, Madrid The international presence of BBVA began in 1902, when the Banco de Bilbao opened a branch in
Paris and in 1918 another in
London, thus becoming the first Spanish bank with a presence abroad. In the 1970s, Banco de Bilbao, Banco de Vizcaya and Banco Exterior were configured as international groups, with the installation of operational and representative offices in the financial capitals of Europe, America and Asia. Likewise, the bank initiated a policy of expansion in America through the purchase of local banks in various countries of the continent. In 2019 the Bank changed its name to BBVA, dropping local brand names in Argentina (
Francés), Mexico (
Bancomer), Peru (
Continental), and the United States (
Compass). In addition to the rebranding, Garanti in Turkey was renamed
Garanti BBVA. In February, 2025 BBVA seeking an investment partner, hiring Rothschild to sell part of its 75.5% stake in the Crea Madrid Nuevo Norte real estate project. The project, which is expected to be completed by 2035, includes 1.6 million square meters of office space and Spain's tallest skyscraper in its capital.
Latin America The Banco de Vizcaya acquired the Commercial Bank of Mayagüez in
Puerto Rico in 1979, a bank founded in 1967 by a group of merchants and industrialists. When it became BBVA Puerto Rico, in 1992 it began a growth stage through acquisitions, which gave rise to BBVA Puerto Rico. In 1995, the group entered
Peru, with the privatization and subsequent acquisition of Banco Continental, and in
Mexico, with the purchase of Probursa, which later merged with
BBVA Bancomer to form the financial group BBVA Bancomer that operates in the banking and insurance sector. In 1996, it entered
Colombia with the acquisition of Banco Ganadero, and
Argentina with the acquisition of
BBVA Francés. It also made new acquisitions in Mexico, buying Banca Cremí and Banco de Oriente. In 1997, BBVA entered
Venezuela by acquiring the Provincial Bank, which had been founded in 1953. It also expanded its presence in Argentina with the acquisition of Banco de Credito Argentino. It also entered into the pension funds business in Bolivia, founding BBVA Previsión AFP. In 1998, the bank entered
Chile after buying Banco BHIF, and AFP Provida one year later. It also entered
Brazil with the purchase of Banco Excel-Econômico; and in Argentina, BBVA bought the insurer Consolidar, created in 1994. In 2000, the merger of BBV Probursa with Bancomer occurred in
Mexico to create
BBVA Bancomer, the first bank in the country by volume of assets. At the beginning of 2004, the Group announced the takeover bid for 100% of the shares of Bancomer that did not yet belong to BBVA, buying all the shares of the Mexican bank. In 2004 it acquired 100% of Hipotecaria Nacional, a private entity specialized in the
mortgage business. In 2001, the implementation of the unified platform for all businesses and all countries was completed, and the BBVA brand was installed in the Group's entities in
Latin America. in
Mexico City In 2004, the banks of Chile (BHIF) and Colombia (Banco Ganadero) changed their commercial denomination and were simply called BBVA. In 2006, through a public auction, it acquired the old savings and housing corporation, Banco Granahorrar de Colombia, whose shares belonged to the Grancolombian group, and with the financial and economic crisis of the late 90s, it passed into the hands of the state through Fogafin. Later, it merged with BBVA Colombia, creating one of the largest banking groups in the country. In 2017 BBVA acquired the Mexican company Openpay, a startup
fintech specializing in online payments. As of 6 July 2018
Scotiabank Chile assumed control of BBVA Chile, with which the legal trademark would be renamed Scotiabank Azul until its full integration with Scotiabank. The total change was made in October 2018.
United States In 2004, the Group began another line of international expansion with entry into the US market, with acquisitions of entities in the south of the country (
Sunbelt region), taking advantage of the strength of its Mexican subsidiary
BBVA Bancomer. In the second quarter of the year, the Group announced the purchase of Valley Bank in California through BBVA Bancomer. In 2005, it bought the Banco Laredo (located in
Texas), and in 2006 the Texas Regional Bancshares (Texas State Bank). In 2007, BBVA acquired Alabama Compass Bank in the US, strengthening its franchise in that country. Later, BBVA unified its corporate image in the country by reorganizing its entire portfolio of brands under the name "
BBVA Compass". In 2009, it acquired the
Guaranty Bank in Texas, following the collapse of this entity. In 2014, BBVA acquired the US digital banking company
Simple for 117 million dollars. In its push towards a digital future in 2015 acquired the California company Spring Studio, specializing in user experience and digital design. By 2018,
BBVA USA was one of the 30 largest banks in the US. In 2020,
BBVA USA was sold to
PNC Financial Services for US$11.6 billion.
Turkey In 2010, the Group acquired 24.9% of the capital of
Turkiye Garanti Bankasi AS, the second largest bank in Turkey, and reached an agreement with the Dogus Group — the reference shareholder of Garanti — to manage the entity jointly. Subsequently, this participation increased to 25.01%. In November 2014, BBVA acquired an additional 14.89% of the Garanti bank from Dogus Holdings for €1.988 billion, bringing its share to 39.9% of the entity. In February 2017, it reached a new purchase agreement with Dogus to acquire 9.95% more from
Garanti bank for €859 million, increasing its participation to 49.85%. On 15 November 2021, BBVA offered to purchase the remaining 50.15% of shares in Garanti bank. In May 2022, BBVA reached a 86% stake in Garanti BBVA. == Other European operations ==