Banco de Vizcaya
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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.
BBVA head-office building in Bilbao.
BBVA building in Madrid.
The BBVA is included in the IBEX 35, the official index of the Spanish Continuous Market composed of the 35 most liquid stocks traded on continuous market. The BBVA has a market capitalization of about 51,882 million euros with a share value between 5 and 8 euros.
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Wikipedia