Mission Statement, Vision, & Core Values (2024) of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)

An Overview of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)

General Summary of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), founded in 1857, is a global financial group headquartered in Madrid, Spain. It provides a wide range of banking services including retail banking, corporate banking, investment banking, and asset management. As of 2024, the bank operates in over 30 countries, primarily in Europe, the Americas, and Asia.

BBVA's main products and services include:

• Personal Banking
• Commercial Banking
• Investment Solutions
• Corporate and Investment Banking
• Wealth Management

In 2024, BBVA reported total sales of approximately €25 billion, reflecting its diverse portfolio and global outreach.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reporting period, BBVA achieved a record-breaking revenue of €27.1 billion, representing a 15% increase compared to the previous year. The bank's net profit reached €5.5 billion, driven significantly by its core product sales in retail and corporate financing.

Key financial metrics from the latest reporting period include:

Introduction to BBVA as a Leading Company in the Industry

BBVA stands out as one of the leading companies in the banking industry, renowned for its innovation in financial technology and commitment to sustainable banking practices. With a robust global presence, BBVA has successfully integrated digital solutions to enhance customer experiences across its services.

The bank is consistently ranked among the top banks in Europe and Latin America, illustrating its competitive strength and market influence. To learn more about how BBVA continues to excel in the banking sector, follow the links below:

Mission Statement of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)

Mission Statement of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)

The mission statement of BBVA is to create opportunities for a better future. This guiding principle underpins the bank's commitment to its customers, shareholders, and the communities it serves. The significance of the mission lies in its ability to direct the bank's strategies and operations towards fulfilling its long-term goals while aligning with its core values.

Customer Orientation

BBVA emphasizes a strong customer-centric approach as a core component of its mission. The bank aims to provide tailored financial solutions that address the unique needs of its diverse clientele. As of 2023, BBVA reported over 30 million customers globally, a significant increase from previous years, showcasing its expanding reach and commitment to customer service.

Innovation and Technology

Innovation stands at the forefront of BBVA's mission. The bank invests significantly in technology to enhance its services and improve operational efficiency. In 2023, BBVA allocated €1.5 billion to digital transformation initiatives, underlining its commitment to integrating advanced technologies such as artificial intelligence and blockchain into banking services.

• Investment in digital banking platforms: €1.5 billion
• Year-on-Year Growth in Digital Channels: 25%
• Mobile App Downloads in 2023: 12 million

Social Responsibility

BBVA's mission incorporates a strong sense of social responsibility, aiming to contribute positively to society. The bank's initiatives include promoting financial inclusion and supporting sustainable development. In 2023, BBVA reported a total of €10 billion allocated to sustainable financing projects, demonstrating its commitment to environmental, social, and governance (ESG) criteria.

Vision Statement of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)

Overview of BBVA's Vision Statement

As of 2024, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) embraces a vision that emphasizes being at the forefront of financial services innovation while maintaining a deep commitment to sustainability and customer-centric approaches.

Customer-Centric Approach

BBVA aims to enhance customer experience through technology and personalized services. As of late 2023, BBVA reported that over 38 million customers utilize its digital banking services, representing a significant increase of 15% year-over-year.

• Top Services Offered:
  • Mobile banking applications
  • Digital payment solutions
  • Investment services
• Customer Satisfaction Rate: 76% based on recent surveys
• Net Promoter Score (NPS): 32, indicating customers' willingness to recommend BBVA to others

Sustainability Goals

BBVA is committed to sustainable finance. The bank has pledged to allocate €100 billion towards sustainable projects by 2025. In 2023, BBVA reported financing of €15 billion in sustainable projects, focusing on renewable energy and green infrastructure.

Innovation and Technological Advancement

As part of its vision, BBVA emphasizes continuous innovation. In 2023, BBVA invested €1.5 billion in technology and digital transformation initiatives, resulting in a significant increase in operational efficiency and customer engagement.

• Key Investments:
  • Artificial Intelligence and Machine Learning
  • Blockchain technology
  • Cybersecurity enhancements
• Digital Engagement Growth: 20% increase in app usage
• Focus on Cybersecurity: €200 million allocated for cybersecurity in 2023

Global Expansion and Market Position

BBVA's vision includes expanding its global footprint. As of 2024, BBVA operates in more than 30 countries, with a strong presence in Spain, Mexico, and South America. The bank's assets stood at €703 billion at the end of 2023, positioning it among the top financial institutions worldwide.

Commitment to Diversity and Inclusion

BBVA recognizes diversity and inclusion as a core pillar in its vision. The bank has implemented initiatives aimed at promoting gender equality, currently reporting that women make up 50% of its management positions.

• Inclusion Initiatives:
  • Training programs for career advancement
  • Diversity hiring goals
• Current Representation:
  • Women in Leadership: 50%
  • International Workforce: 25%

Conclusion

BBVA’s vision for 2024 encompasses innovative customer service, sustainability, technological advancement, global expansion, and a strong commitment to diversity. Through these core components, BBVA aims to solidify its position as a leading banking institution.

Core Values of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)

Core Values of BBVA

Customer Centricity

The value of customer centricity is fundamental to BBVA, emphasizing a commitment to understanding and meeting the needs of customers.

In 2023, BBVA achieved a customer satisfaction score of 86%, reflecting its efforts to focus on client feedback and service improvement.

BBVA has implemented initiatives such as the Customer Experience Program which led to a 30% increase in Net Promoter Score (NPS) from 2022 to 2023.

Through the introduction of the BBVA Digital Banking App, which reported over 10 million active users as of Q3 2023, the bank has enhanced customer interactions and accessibility.

Innovation

Innovation is a core value that drives BBVA to develop new products and services that meet the evolving financial needs of its customers.

In 2024, BBVA invested €1.8 billion in technology and innovation, focusing on AI and data analytics.

The launch of the BBVA Open Innovation platform facilitated over 200 collaborations with fintechs and startups, enhancing product offerings within the year.

Additionally, BBVA's investment in blockchain technology has led to the reduction of processing times for international transfers by 40%.

Integrity

Integrity serves as a cornerstone of BBVA’s operations, ensuring transparency and ethical practices across all business transactions.

BBVA’s commitment to integrity is evidenced by its compliance with international regulations, leading to a 0% record of major regulatory breaches in 2023.

The bank operates under the BBVA Code of Conduct, which includes regular training programs for over 80,000 employees on compliance and ethical behavior.

Moreover, BBVA has adopted a whistleblower protection policy that encourages employees to report unethical practices without fear of retaliation.

Responsibility

Responsibility encompasses BBVA's commitment to social impact and sustainable practices in its operations.

As of 2023, BBVA has directed €10 billion towards sustainable financing aimed at supporting green projects and renewable energy initiatives.

The bank has also pledged to achieve carbon neutrality by 2025, with over 60% of its energy consumption in Spain sourced from renewable energies in 2023.

Through its Financial Inclusion Initiative, BBVA has successfully provided banking services to over 1 million unbanked individuals across Latin America in the last year.

Diversity and Inclusion

Diversity and inclusion are pivotal values for BBVA, promoting a workplace where all employees can thrive.

As of 2023, BBVA has achieved a workforce gender balance with women representing 50% of the total employees and 40% in leadership positions.

The Inclusive Leadership Program was launched to enhance leadership skills among diverse teams, resulting in a 25% improvement in employee engagement scores.

BBVA’s partnership with organizations promoting diversity has led to a 15% increase in hiring from underrepresented groups in 2023.