Banco de Bilbao
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BBVA head-office building in Bilbao.
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| Sociedad Anónima | |
| Traded as |
BMAD: BBVA : BBVA |
| Industry | Financial services |
| Predecessor |
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| Founded | Bilbao, Spain 1857 |
| Headquarters | Bilbao, Spain |
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Key people
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Francisco González (Group Executive Chairman) Carlos Torres Vila (CEO) |
| Services | Banking, insurance, asset management |
| Revenue |
 €23.680 billion (2015)
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€6.81 billion (2015)
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€2.642 billion (2015)
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| Total assets |
€750.07 billion (2015)
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| Total equity |
€55.43 billion (2015)
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Number of employees
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137,968 (2015) |
| Website | www |
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) (Spanish pronunciation: [ˈbaŋko βilˈβao βiθˈkaʝa arxenˈtaɾja] is a multinational Spanish banking group. It was formed from a merger of Banco Bilbao Vizcaya and Argentaria in 1999, and is the second largest bank in Spain. The company is a constituent of the IBEX 35 and Euro Stoxx 50 . In 2007, the firm started an initiative to digitally transform the bank. Following implementation, it saw a 19% year-on-year increase in new customers. As of 2015, the total number of these clients stood at 14.8 million.
As of March 2013[update] BBVA had the following debt ratings with the four major rating agencies:
In February 2014, BBVA acquired Simple, a then four-year-old direct bank for 117 million. In its push towards a digital future BBVA has also acquired such companies as Madiva, a big-data company, Spring Studio, a digital-design specialist, digital banks in America and Finland, and 29.5% of Atom, a British online bank.
BBVA executive chairman, Francisco González, explained why banks must get with the technology program: "Some bankers and analysts think that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree. What is more, I think banks that are not prepared for such new competitors face certain death." The banking industry recognizes BBVA to be more pro-technology than many of its competitors.
In 2016, BBVA acquired Finnish online banking startup Holvi, based in Helsinki, Finland. Holvi was founded by Kristoffer Lawson and Tuomas Toivonen in 2011, and provides entrepreneurs, small and medium-sized businesses with a range of business services as well as traditional banking through its online platform. According to Maaseudun Tulevaisuus, Holvi offers SMEs an alternative to traditional banks, with a business account, a payment card, a bookkeeping tool, a billing application and an online store. Card access can be managed via a smartphone app, which also includes notifications of any charge on the card.
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Wikipedia