Banco Bilbao Vizcaya Argentaria BBVA

Banco Bilbao Vizcaya Argentaria, S. A. is a customer-centric global financial services group founded in 1857, operating in the banking and financial services industry. The company provides a broad range of services including retail banking, asset management, wholesale banking, insurance, and digital banking solutions, with a strong focus on enhancing customer experience through online and mobile channels. BBVA places sustainability at the core of its strategy, integrating environmental and social considerations into its business operations and product offerings.

BBVA generates revenue primarily through net interest income from lending activities, fee and commission income from banking and asset management services, and trading income from financial markets. The company earns interest from loans and advances to customers, including mortgages, consumer loans, corporate financing, and public sector lending. Additionally, BBVA generates revenue from off-balance sheet funds such as mutual funds and pension funds, insurance premiums, and services related to corporate and investment banking, including capital markets and advisory services. Its revenue streams are diversified across its global operations, serving individual customers, small and medium-sized enterprises, large corporations, and public institutions.

The company operates through the following segments: Spain, Mexico, Turkey, South America, and Rest of Business.

• Spain includes all banking and non-banking activities in Spain excluding those in the Corporate Center. It encompasses the Spanish Retail Network serving individual customers, private banking, small businesses, and domestic market clients; Corporate and Business Banking managing small and medium-sized enterprises, corporations, and public institutions; Corporate and Investment Banking handling large corporations, multinational groups, trading floor operations, and distribution activities in Spain; and other units including the insurance business in Spain (BBVA Seguros), asset management unit managing Spanish mutual funds and pension funds, lending to real estate developers, foreclosed real estate assets, and certain proprietary portfolios and structural interest-rate positions of the euro balance sheet not included in the Corporate Center.

• Mexico comprises the banking, insurance, and asset management business conducted in Mexico by BBVA Mexico, including its agency in Houston. It provides retail and corporate banking services, insurance products, and asset management solutions to customers in Mexico, supported by a growing digital platform and mutual fund offerings that cater to higher-return investment demand.

• Turkey consists of the activities of Garanti BBVA as an integrated financial services group operating in banking, insurance, and asset management in Turkey. It includes corporate, commercial, SME, payment systems, retail, private, and investment banking, along with subsidiaries in pension and life insurance, leasing, factoring, brokerage, asset management, and international operations in Romania and the Netherlands.

• South America includes the Group’s banking, finance, insurance, and asset management business primarily in Argentina, Chile, Colombia, Peru, Uruguay, and Venezuela. It covers retail and corporate banking operations across these countries and insurance businesses in Argentina, Colombia, and Venezuela, with a focus on adapting to local economic conditions including hyperinflation environments in certain markets.

• Rest of Business mainly includes wholesale banking activities in Europe (excluding Spain), the United States, and Asia through BBVA branches, as well as the Group’s digital banks in Italy and Germany. It serves institutional and corporate clients through cross-border lending, deposit taking, and financial market activities, supported by digital banking initiatives in European markets.

BBVA holds a strong position as one of the largest financial institutions in the eurozone and a leading bank in Spain, Mexico, and South America. It competes with major global and regional banks such as Santander, CaixaBank, BNP Paribas, HSBC, and Citigroup. The company’s competitive advantages include its diversified geographic footprint, early and sustained investment in digital transformation, strong brand recognition in key markets, and a balanced business model that combines traditional banking strengths with innovative fintech capabilities. Its focus on sustainability and responsible banking further differentiates it in an increasingly ESG-conscious investment landscape.

BBVA serves a diverse customer base including individual retail customers, small and medium-sized enterprises, large corporations, multinational groups, and public sector institutions. The company provides services to private banking clients, mortgage and consumer loan borrowers, credit card users, investors in mutual funds and pension funds, and policyholders through its insurance subsidiaries. Its digital platforms attract tech-savvy users seeking convenient, mobile-first banking experiences across its global markets.