- Euromoney named BBVA Latin America’s Best Digital Bank, citing nearly 57 million regional customers and about 75% mobile penetration.
- BBVA plans to invest over 100 billion Mexican pesos in Mexico during 2025–2030 to boost digitalization, customer experience, enterprise banking, sustainability and inclusion.
- The group also won multiple Euromoney awards across markets and categories, including sustainable finance, investment banking, customer experience and diversity & inclusion.
- BBVA is doubling down on Latin America despite Mexico-linked currency and regulatory headwinds that have pressured subsidiary profitability.
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The recognition by Euromoney positions BBVA as a clear leader in digital banking across Latin America, underpinned by measurable metrics: nearly 57 million customers served, ~75% mobile penetration, and strong momentum in scalable cross-border platforms. Such digital metrics not only serve as reputational capital but also likely contribute to lower costs, higher recurring fees, and deeper customer loyalty.
The announced investment plan in Mexico of over 100 billion pesos for 2025-2030 underscores a strategic bet: despite recent profitability pressures from currency devaluation and regulatory volatility, BBVA is investing heavily in both infrastructure (digital platforms, AI, customer experience) and ESG-aligned growth (sustainable finance, inclusion). This suggests confidence in Mexico’s long-term macro fundamentals and role in regional opportunity.
BBVA’s sweep of awards across countries and categories—best bank, investment bank, sustainable finance, customer experience, diversity & inclusion—demonstrates not just execution in digital transformation, but also the ability to deliver across multiple dimensions of modern banking. This diversification strengthens its resilience against any one market’s or line’s downturns.
However, notable headwinds remain. The Mexican subsidiary’s margin and profitability have been impacted by peso devaluation and federal policies; BBVA’s margins from Mexico have, in some recent quarters, turned into net detractors to group earnings. Currency and regulatory risk remains a key variable. Also, scaling investments (especially in tech and ESG) often carries upfront costs and delayed returns, meaning there’s a period of financial strain before payoff.
Looking ahead, strategic implications include: leveraging its competitive lead in digital platforms to expand into underserved segments (MSMEs, informal sector); deepening AI, open banking and data platform investments for both cost savings and product innovation; mitigating risks via hedging, regulatory relations, and geographic diversification; and assessing how to monetize sustainability and inclusion efforts in a way that balances impact and return.
Open questions remain: Can digital adoption rates continue accelerating amid competition? What pace of return will the new Mexican investment plan deliver? How will external risks—currency, regulation, macroeconomics—shape net margins in the Latin American operations? And how will BBVA scale innovation (AI, data, ESG) without compromising risk controls or profitability?
Supporting Notes
- Euromoney named BBVA “Latin America’s Best Digital Bank” and cited it serves nearly 57 million customers with ~75% mobile penetration, plus strong cross-border platforms like Horizon and ADA.
- BBVA plans to invest more than 100 billion pesos in Mexico between 2025-2030 (~US$5.2 billion/€4.6 billion), to enhance enterprise banking, customer experience, sustainability, digitalization and inclusion.
- In 2024, BBVA’s group net attributable profit reached €10.05 billion, up 25% year over year, and lending rose by 14.3%, with Mexico growing above 17%.
- Awards were broad: BBVA subsidiaries won Best Bank, Best Investment Bank, Sustainable Finance, Customer Experience, Diversity & Inclusion in Mexico, Peru, Spain, Türkiye, and CEE region at Euromoney 2025 Awards for Excellence.
- Recent pressures: Mexican subsidiary profitability has suffered losses of approx. €94-€109 million in recent quarters vs same periods year prior, largely due to peso depreciation and US-Mexico trade tensions, though compensated in part by stronger Spain and corporate center results.