Banco Bilbao Vizcaya Argentaria
|Traded as||BMAD: BBVA
|Founded||Bilbao, Spain 1857|
|Services||Banking, insurance, asset management|
|Revenue||€21.39 billion (2013)|
|€10.19 billion (2013)|
|Total assets||€599 billion (end 2013)|
|Total equity||€44.81 billion (end 2013)|
Number of employees
|109,305 (end 2013)|
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 biggest bank in Spain.
As of March 2013[update] BBVA had the following debt ratings with the four major rating agencies:
|Rating Agency||Long Term Rating||Short Term Rating|
|S&P||BBB- (Outlook: Stable)||A-3|
|Moody’s||Baa2 (Outlook: Positive)||P-3|
|Fitch||BBB+ (Outlook: Stable)||F-2|
|DBRS||A (Outlook: Negative)||R-1 (middle)|
Mergers and acquisitions
In February 2014, BBVA acquired Simple, a then four-year-old direct bank for 117 million. 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.
U.S. sports market presence
On September 13, 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 May 12, 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.
- BBVA Bancomer, Mexican subsidiary
- BBVA Banco Francés, Argentinian subsidiary
- BBVA Banco Provincial Venezuelan subsidiary
- BBVA Banco Continental Peruvian subsidiary
- BBVA Compass Southwestern and Southeastern US subsidiary
- Liga BBVA professional association of the Spanish football league
- BBVA Rising Stars Challenge NBA exhibition basketball game
- BBVA Foundation Frontiers of Knowledge Award annual science and humanities award since 2009
- "Annual Results 2013". BBVA. Retrieved 7 February 2014.
- "Los cuatro grandes, más fuertes que nunca (The big four, stronger than ever) (spanish)". ABC.es.
- "S&P Research Update: BBVA 'BBB+/A-3' Ratings Affirmed Despite Rising Economic Risk In Spain; Outlook Stable", December 2, 2013
- "Moody’s Rating Report", March 4, 2014
- "Fitch Downgrades Santander & BBVA to 'BBB+'/Negative Outlook on Sovereign Action", November 8, 2013
- "DBRS Lowers BBVA to 'A' After Downgrade of Spain to A (low), Trend Now Negative", August 10, 2012
- David Wolman (February 26, 2014). "The Bank and the Anti-Bank". The New Yorker. Retrieved 26 January 2015.
- "BBVA becomes NBA sponsor" September 13, 2010, Reuters
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