BBVA (Spanish: BBVA, Abbreviation BBVA) Is The Main Bank In Spain. It Was Established In 1999 And Its Head Office Is Located In Bilbao, Basque Country.
Summary
In 1999, It Was Merged By Banco Bilbao And Argentaria, And Its Name Was Changed To BBVA (BBVA). Among Them, Banco Bilbao Itself Was Formed A Few Years Ago By The Merger Of Three Banks: Banco Bilbao, Banco Vizcaya And Vizcaya. BBVA Started Sponsoring The Spanish First Division Football League In The 2008-09 Season And Lasted For 8 Seasons Until The 2015-16 Season. In 2010, It Also Started Sponsoring NBA Until 2017.
In 2018, Banco Bilbao Vizcaya Argentaria Became The First Bank In The World To Use Blockchain Technology To Issue Loans. It Also Ranked 3rd In The "Top 100 Most Valuable Spanish Brands 2018" List And 224th In The Fortune Global 500 2018.
In 2020, BBVA USA Was Sold To PNC Financial Services For $11.60 Billion.
International Expansion
BBVA's International Operations Began In 1902 When Banco Bilbao Opened A Branch In Paris And Another In London In 1918, Thus Becoming The First Spanish Bank To Operate Abroad. BBVA Was Configured As An International Group In The 1970s, Establishing Operating Offices And Representative Offices In Financial Centers In Europe, America, And Asia; It Also Expanded Through The Acquisition Of Local Banks.
- BBVA Guaranteed Bank: 2010-2022 Progressive Acquisition Of A Majority Stake In Turkey Guaranteed Bank
- BBVA USA: 2004-2009 Acquisition Of Several Small Banks Such As Valley Bank, Laredo Bank, Texas Regional Bank, Alabama Compass Bank, Texas Guaranteed Bank In Texas And California Through BBVA Mexico With Holdings. Sold To PNC In 2021.
Latin America
- BBVA Argentina: Acquired French Bank Of La Plata River In 1996 And Credit Bank Of Argentina In 1997.
- BBVA Brazil: Acquisition Of Bank Of Excellence In Economics In 1998
- BBVA Colombia: Acquisition Of Livestock Bank In Colombia In 1996
- BBVA Mexico: Acquisition Of Bank Of Commerce In Mexico In 1995, And Of Bank Oriental Of Mexico And Crimea In 1996.
- BBVA Peru: Acquisition Of Bank Continental Of Peru In 1995
- BBVA Venezuela: Acquisition Of Provincial Bank Of Venezuela In 1997.
- BBVA Puerto Rico: Acquisition Of Commercial Bank Mayaguez Of Puerto Rico In 1979, Sold To Bank Oriental Of Puerto Rico In 2012.
- BBVA Chile: Acquisition Of AFP Provida, A Pension Fund Company Of International Financial Mortgage Banks, In 1997. In 2018, It Was Sold To Scotiabank In Canada And Renamed Scotiabank In Chile.
