BBVA’s Chief Executive Officer, Onur Genç, has reaffirmed the bank’s unwavering commitment to its 2025–2029 Strategic Plan, which centres on profitable, sustainable, and fully organic growth. Speaking at the Financial Times’ Global Banking Summit in London, Genç outlined the bank’s robust momentum across its European operations, driven principally by its digital-first model and strengthened market positioning.
Rapid Expansion in Italy and Germany
A major focus of his address was BBVA’s substantial progress in Italy, where the bank has been operating for four years. Since launching digital banking services in the country, BBVA has amassed over 800,000 customers, doubling its initial expectations and placing itself two years ahead of forecast. Genç stated that the bank now aims to exceed one million customers in Italy by 2026, reinforcing its status as a major digital entrant in the European market.
In Germany, where BBVA only recently began offering its services, early performance has surpassed internal projections. According to Genç, customer reception has been “highly encouraging,” with demand accelerating faster than anticipated. BBVA’s fully digital offering includes bank accounts, deposits, loans, mortgages, insurance, and investment services, allowing German customers to access a comprehensive suite of financial products through a seamless and technology-driven platform.
He stressed that BBVA’s European growth strategy is built on combining the reliability of a traditional European bank with a cutting-edge digital experience—a combination that is quickly proving attractive in markets with rising demand for online banking solutions.
Structural Advantages Driving Growth
Genç highlighted three structural advantages that underpin BBVA’s continued organic expansion:
Geographic diversification, allowing the bank to balance performance across multiple markets
Dominant market positions in key regions
A solid digital advantage, supported by years of investment in technology and innovation
He noted that BBVA has boosted its commercial market share in Spain by 50 basis points each year, emphasising the bank’s strength in both traditional and digital segments.
Record Customer Acquisition in 2024
The CEO revealed that BBVA attracted 11 million new customers in 2024, with nearly two-thirds joining through digital channels. This surge underscores the bank’s strong brand appeal and its ability to meet evolving customer expectations across markets.
Genç acknowledged that Europe’s banking system continues to face structural challenges, including fragmentation, regulatory pressures, and competitive shifts. Even so, BBVA stands out: it already ranks number one in profitability and growth among Europe’s fifteen largest banks, a position he described as both a milestone and a motivator for future performance.
With its long-term strategic plan in place, BBVA appears well positioned to maintain its growth trajectory, leveraging its digital leadership and diversified European footprint to expand responsibly and profitably over the coming years.