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2024-04-30 00:09:50

Banco Bilbao Vizcaya Argentaria

Spanish multinational financial services company
Spanish multinational financial services company
Banco Bilbao Vizcaya Argentaria, S.A., known as BBVA, is a major financial institution founded in 1857. With assets of around €775 billion, it operates in over 30 countries and is Spain's second largest bank.
1857-05-28
Foundation of Banco de Bilbao
Banco de Bilbao was founded on May 28, 1857, in Bilbao, Spain. It later became part of the multinational financial services company BBVA.
1859
Issuance of 1,000 reales de vellón banknote by Banco Bilbao
In 1859, Banco Bilbao issued a 1,000 reales de vellón banknote, showcasing the bank's significant presence in the financial landscape of the time.
1901
Establishment of Banco de Vizcaya
Banco de Vizcaya was founded in 1901 in Bilbao, Spain and gradually expanded its operations throughout the country.
1902
BBVA's International Presence Begins
In 1902, Banco de Bilbao opened a branch in Paris, marking the beginning of BBVA's international presence. This move was followed by the opening of another branch in London in 1918, making BBVA the first Spanish bank with a presence abroad.
1918
Expansion of Banco de Vizcaya into Madrid
In 1918, Banco de Vizcaya expanded into Madrid by acquiring Banca Luis Roy Sobrino, establishing its first branch in the capital. This expansion marked the bank's national presence and growth.
1929
Stock market crash impact on Spanish financial institutions
The stock market crash of 1929 had a major impact on Spanish financial institutions, leading to insolvency for major banks like Banco de Barcelona and Credito de la Union Minera.
1936
Accounting difficulties in the Civil War
During the Spanish Civil War, the banking industry faced challenges in maintaining accurate accounting records due to the country's division into two opposing sides. By 1936, banks struggled to close their accounting books.
1939-04-01
BBVA's History During Spanish Civil War
During the Spanish Civil War, BBVA (Banco Bilbao Vizcaya Argentaria) faced pressing challenges due to the wartime conditions. The bank's operations and capabilities were significantly affected by the conflict, highlighting the impact of the war on the banking sector.
1946-12-31
Passing of New Banking Law in Spain
On the last day of 1946, a new banking law was passed in Spain as part of the urgent measures adopted by Franco's government to expedite the reconstruction of the economy. The law outlined the new scenario in which banking institutions would be required to operate during the next decade.
1972
Change in Private Banking in Spain
In 1972, Franco's government focused on a change in private banking as part of the efforts to normalize the financial system in Spain.
1979
BBVA Acquires Commercial Bank of Mayagüez
In 1979, Banco de Vizcaya acquired the Commercial Bank of Mayagüez in Puerto Rico, which later became BBVA Puerto Rico. This acquisition marked the beginning of BBVA's growth stage through acquisitions in the region.
1988-01-27
Merger of Banco de Bilbao and Banco de Vizcaya
On January 27, 1988, Banco de Bilbao merged with its local rival, Banco de Vizcaya. The merger was driven by the desire to grow and meet new economic realities, with both banks being well-managed organizations in the same market.
1991
Creation of Argentaria by Spanish Government
In 1991, the Spanish government under Felipe González established the public bank Argentaria, which later merged with BBV to form BBVA.
1994
BBV's '1,000 Day Program'
In 1994, Banco Bilbao Vizcaya (BBV) initiated the '1,000 Day Program' to position itself as a leading financial institution in Spain and Latin America, aiming to become the preferred financial provider in the region.
1995
BBVA Expands into Peru and Mexico
In 1995, BBVA entered Peru through the acquisition of Banco Continental and expanded into Mexico by purchasing Probursa, which later merged with BBVA Bancomer. These moves strengthened BBVA's presence in the banking and insurance sector.
1996-08
Stake in Banco Ganadero in Colombia
In August 1996, BBV acquired a 40 percent stake in Banco Ganadero, the largest bank in Colombia, as part of its growth-through-acquisition strategy in Latin America.
1997
BBVA Enters Venezuela and Expands in Argentina
In 1997, BBVA entered Venezuela by acquiring the Provincial Bank and expanded its presence in Argentina with the acquisition of Banco de Credito Argentino.
1998
BBVA Expands in Chile, Brazil, and Argentina
In 1998, BBVA installed in Chile after buying Banco BHIF, entered Brazil with the purchase of Banco Excel-Econômico, and in Argentina, acquired the insurer Consolidar.
1999-10-19
Merger of BBV and Argentaria: Creation of BBVA
On October 19, 1999, Banco Bilbao Vizcaya (BBV) and Argentaria announced their merger project, forming the new bank BBVA with significant size and financial strength.
2000
Merger of BBV Probursa with Bancomer in Mexico
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.
2001
Implementation of Unified Platform in Latin America
In 2001, the implementation of the unified platform for all businesses and countries was completed, and the BBVA brand was installed in the Group's entities in Latin America.
2004
BBVA Acquires Hipotecaria Nacional in Mexico
In 2004, BBVA acquires 100% of Hipotecaria Nacional, a private entity specialized in the mortgage business.
2006
BBVA Acquires Banco Granahorrar de Colombia
In 2006, BBVA acquired the old savings and housing corporation, Banco Granahorrar de Colombia, and later merged it with BBVA Colombia, creating one of the largest banking groups in the country.
2007-09-07
BBVA Acquires the Company
Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain, acquired the company.
2008-01
Gary Hegel Becomes CEO
In January 2008, Gary Hegel assumed the position of CEO of the company.
2008-03
BBVA Integrates Subsidiary Banks
In March 2008, BBVA announced the Federal approval to integrate its four subsidiary banks into a single organization, initially named 'Citation', which later became 'BBVA Compass'.
2008-12
Manolo Sanchez Becomes CEO
In December 2008, Manolo Sanchez took over as the CEO of the company.
2009-08-21
BBVA Compass Acquires Guaranty Bank
On August 21, 2009, BBVA Compass acquired the deposits and core assets of Guaranty Bank of Austin, Texas in an FDIC-supervised transaction, expanding its presence in California and Texas.
2010
Acquisition of Turkiye Garanti Bankasi AS
In 2010, BBVA acquired 24.9% of the capital of Turkiye Garanti Bankasi AS, the second largest bank in Turkey, and later increased its share to 25.01% through an agreement with Dogus Group.
2011-04
Construction of BBVA Compass Corporate Office Building
In April 2011, BBVA Compass announced the construction of an eco-efficient corporate office building in Houston's Galleria area to serve as its headquarters.
2012-07
BBVA Compass Settlement for Overdraft Fees
BBVA Compass was part of a lawsuit involving improper manipulation of checking account transactions. In July 2012, the bank agreed to pay $11.5 million to settle the case.
2013
Opening of BBVA Compass Plaza
In 2013, BBVA expanded its regional presence with the opening of BBVA Compass Plaza, a large office building in Houston.
2014-04
BBVA USA Development Center Opening
In April 2014, BBVA USA inaugurated its renovated Development Center.
2014-11
Acquisition of additional shares in Garanti Bank
In November 2014, BBVA acquired an additional 14.89% of Garanti bank from Dogus Holdings for €1.988 billion, increasing its share to 39.9%.
2017-02
Purchase agreement with Dogus for more shares in Garanti Bank
In February 2017, BBVA reached a new purchase agreement with Dogus to acquire 9.95% more shares from Garanti bank for €859 million, raising its participation to 49.85%.
2018-04-02
BBVA Ranked 42nd Largest Bank in the World
On April 2, 2018, BBVA was ranked as the 42nd largest bank in the world based on total assets. This highlights its significant presence in the global financial sector.
2019
BBVA Rebrands and Renames
In 2019, BBVA underwent a significant rebranding process, changing its name and dropping local brand names in Argentina, Mexico, Peru, and the United States. The bank also renamed Garanti in Turkey to Garanti BBVA.
2020
BBVA Negotiations with Sabadell
In 2020, BBVA entered into negotiations with smaller competitor Sabadell to create Spain's second-biggest domestic lender by assets. The deal would have resulted in a combined market value of 26.7 billion euros, but talks ended due to disagreement on price.
2021-11-15
Offer to purchase remaining shares in Garanti Bank
On November 15, 2021, BBVA offered to purchase the remaining 50.15% of shares in Garanti bank.
2022-02
BBVA Ranks First in Dow Jones Sustainability Index
In February 2022, BBVA ranked first in the 'Dow Jones Sustainability Index', becoming one of the most sustainable banks in the world.
2022-03
BBVA Financial Education Program Implementation
In March 2022, BBVA implements a plan to promote financial education programs in line with the European Commission and OECD's framework, aiming to improve financial inclusion and health of one million people.
2022-05
BBVA reaches 86% stake in Garanti BBVA
In May 2022, BBVA reached an 86% stake in Garanti BBVA.
2022-07
BBVA Joins Carbonplace Platform
In July 2022, BBVA joins the 'Carbonplace' platform as a founder with the aim of facilitating access to carbon credits for individuals and companies.
2023
BBVA in 2023
Information about BBVA's activities, achievements, and financial performance in the year 2023.
End of the Timeline
Banco Bilbao Vizcaya Argentaria

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Banco Bilbao Vizcaya Argentaria

Spanish multinational financial services company
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