Technological changes and consumer preferences are transforming society and the way of doing business…
A new environment that poses a significant challenge for the financial industry
(1) CET1 average, including BBVA and its European Peer Group (BARC, BNPP, CASA, CS, CMZ, DB, HSBC, ISP, LBG, RBS, SAN, SG, UBS and UCG).
…and promoting an accelerated and profound transformation of the banking industry.
The socio-demographic changes taking place also need to be added to these trends:
In addition, this new environment poses a significant challenge for the financial industry, since:
… are exerting a pressure on the system's profitability, calling into question the viability of certain businesses and limiting the ability of banks to finance their growth.