Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) (Spanish pronunciation: ['ba?ko ?il'?ao ?i?'ka?a arxen'ta?ja] 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 stock market index. 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.
Video Banco Bilbao Vizcaya Argentaria
Credit ratings
As of March 2013 BBVA had the following debt ratings with the four major rating agencies:
Maps Banco Bilbao Vizcaya Argentaria
Mergers and acquisitions
Simple
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.
Holvi
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.
The startup launched IBANs for its customers in 2014, allowing businesses in 19 countries across Europe to operate pan-European accounts not tied to a single country.
In December 2014 Forbes magazine put it on a list of "5 Finnish Startups To Watch".
Holvi partnered wih the Government of Estonia to provide businesss banking services to people using the country's e-residency programme.
Holvi uses a system from GBG for online identity verification. Holvi is authorised by the Financial Supervisory Authority of Finland for operations across the European Union.
In 2014 Talouselämä magazine reported that Holvi employed 9 people.
Presence on stock market indexes
IBEX 35
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.
Eurostoxx 50
BBVA bank lists in Eurostoxx 50 along with other banks like Santander Bank and Deutsche Bank.
International subsidiaries
- BBVA Francés
- BBVA Prevision AFP
- BBVA (Chile)
- BBVA (Colombia)
- BBVA Bancomer
- BBVA (Paraguay)
- BBVA (Portugal)
- BBVA Continental
- Garanti Bank
- BBVA Compass
- BBVA (Uruguay)
- BBVA Provincial
- Simple Finance Technology Corporation
- Holvi
U.S. sports market presence
On 13 September 2010 BBVA became an official sponsor of the NBA. From 2011 to 2014, BBVA sponsored the Birmingham Bowl, a postseason college football game played in Birmingham, Alabama, during which time the game was known as the BBVA Compass Bowl. For the first three editions under the sponsorship contract, the game featured teams from the Big East Conference and Southeastern Conference. Following the 2013 split of the Big East along football lines, the former Big East berth was inherited by that conference's football-sponsoring offshoot, the American Athletic Conference. On 12 May 2012, BBVA Compass Stadium opened in downtown Houston, Texas. It was built as the home for the Houston Dynamo soccer team, and from its opening has also hosted the Texas Southern University football team. Since 2014, the stadium has also hosted home games of the Houston Dash, a team in the National Women's Soccer League that is owned and operated by the Dynamo.
See also
- BBVA Rising Stars Challenge NBA exhibition basketball game
- BBVA Foundation Frontiers of Knowledge Award annual science and humanities award since 2009
- Big Four (Spanish banking)
References
External links
- Official website
- BBVA Foundation (in Spanish)
Source of article : Wikipedia
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