Annual Report 2014 Global growth The regulatory environment in the financial industry Unique banking model A new environment for the financial industry Transformation journey Business organization chart and structure Responsible Business Plan


BBVA Group's digital transformation process made significant progress in 2015 with the definition, among other aspects, of the Bank's new strategy and organizational structure. 

The economic environment in which BBVA has operated during the year has been determined by moderate economic growth, vulnerable to risks, with a slowdown in emerging economies and mild recovery of the developed world. 

The regulatory environment in the financial industry has been marked by the first supervision exercise under the Single Supervisory Mechanism (SSM), with a very positive assessment. In Europe, decisive steps have been taken to strengthen and complete the banking union. The transparency exercise conducted by the European Bank Authority (EBA) showed that banks are now better capitalized. As regards Spain, the Spanish regulatory framework has been adapted to European directives and regulations in the planned timeframes.

BBVA has a banking model based on four pillars that makes us different: diversification and leadership, a management model based on prudence and proactivity, a business model of return adjusted to principles and a customer-centric business approach. The principles inspiring our activity are integrity, prudence and transparency. Our business model is customer oriented, offering a differential service with a very ambitious goal: to be leaders in customer satisfaction across our global footprint.  

We are witnessing a new environment for the financial industry that poses a significant challenge for this sector. Transformation journey: BBVA has to tackle this new environment through a transformation from and to the customers. In 2015, the Group defined a new Purpose: to bring the age of opportunity to everyone. This is the Purpose that must guide the strategy and decision-making process in the Organization. To this end, six strategic priorities have been defined, which are aligned with the Purpose and lead this transformation: to provide a new standard in  customer experience; to drive digital sales; to create / associate with / acquire new business models; to optimize capital allocation; to adapt the model, the processes and the structures to achieve an unrivaled efficiency; and to develop, retain and motivate a first class workforce.

Lastly, in 2015 we continued to promote the Responsible Business Plan, which has been developed around three pillars: transparent, clear and responsible communication (TCR); financial literacy; and high social impact products.