Spanish financial services company BBVA has laid out an investment plan totalling €4.57bn for its operations in Mexico, spanning the years 2025 to 2030.
This announcement was made by Carlos Torres Vila, the chair of BBVA, during the National Meeting of Regional Advisors in Mexico, which serves as the bank’s primary forum for engaging with business leaders in the country.
Addressing over 500 members of the business community, Torres Vila conveyed that this initiative represents a significant commitment to BBVA’s customer base in Mexico.
Torres Vila reviewed BBVA’s financial results for 2024, highlighting a net attributable profit of €10.05bn, which reflects a 25% increase from the previous year. The bank’s earnings per share similarly rose by 28%, supported by share buybacks.
He pointed to the bank’s strategic focus on profitable growth, bolstered by strong franchises and key areas like innovation and sustainability, as drivers of these outcomes.
In terms of lending activity, BBVA reported a global increase of 14.3% in 2024, with Mexico experiencing a growth rate exceeding 17%. This expansion in lending facilitated housing purchases for 160,000 families and enabled approximately 715,000 small and medium-sized enterprises and self-employed individuals to expand their operations.
Additionally, about 70,000 large corporations accessed financing through BBVA.
Torres Vila also discussed BBVA’s progress in innovation and digital transformation. The bank achieved a record level of customer acquisition in 2024, adding 11.4 million new customers globally.
Over the past five years, the group’s active customer base has increased from 53 million to 77 million worldwide, with Mexican customers rising from 21 million in 2019 to 32 million in 2024. He highlighted advancements in artificial intelligence and partnerships with organisations such as OpenAI as pivotal elements of the bank’s strategy.
The new strategic direction for BBVA encompasses six priorities: focusing on client needs; leveraging sustainability as a growth driver; scaling up across all enterprise segments; fostering value and capital creation within the organisation; harnessing AI and next-generation technology; and enhancing human resources to reinforce team effectiveness.
Torres Vila noted an evolution in BBVA’s role towards acting as a catalyst for collective growth and improvement, with an emphasis on anticipating customer needs and providing solutions that support aspirations.
