BBVA Accelerates European Expansion Through Digital Banking Model

Speaking at the Global Banking Summit in London, BBVA’s Chief Executive Officer, Onur Genç, reaffirmed the group’s firm commitment to its 2025–2029 Strategic Plan, underlining that the bank’s future growth will continue to be driven by profitable, organic expansion rather than large-scale acquisitions. His remarks highlighted BBVA’s growing confidence in its European digital banking model, particularly in Italy and Germany, where early results have exceeded internal expectations.

Genç described BBVA’s progress in Italy as a standout example of how a fully digital banking proposition can gain rapid traction in a mature market. After just four years of operation, BBVA Italy now serves more than 800,000 customers—double the figure originally projected for this stage. According to Genç, the business is running approximately two years ahead of schedule, both in terms of customer acquisition and operational maturity. The bank’s next objective is to surpass one million customers by 2026, while deepening relationships to become the primary banking provider for a growing share of those clients.

Germany represents BBVA’s newest European venture, having launched only recently. Despite its early-stage status, initial customer feedback has been “very positive”, Genç noted, adding that performance indicators are already ahead of expectations. BBVA’s German offering provides a full suite of retail banking services, combining the stability and regulatory strength associated with a major European bank with what Genç described as a “superior digital experience” designed to rival fintech competitors.

Beyond individual country performances, Genç outlined the three structural strengths underpinning BBVA’s organic growth model: broad geographic diversification, strong or dominant positions in its core markets, and a deeply embedded digital advantage. In Spain, BBVA has increased its commercial banking market share by approximately 50 basis points per year, demonstrating resilience even in a highly competitive domestic environment.

The group’s digital strategy continues to deliver at scale. In 2024 alone, BBVA attracted 11 million new customers worldwide, with around two-thirds joining through digital channels. Genç also addressed the broader challenges confronting Europe’s banking sector, including regulatory pressure, fragmentation, and comparatively low returns. Against this backdrop, he emphasised that BBVA currently ranks first among Europe’s fifteen largest banks in terms of both profitability and growth—an achievement he attributed to disciplined execution and long-term strategic clarity.

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