Spanish Bank Strengthens Asian Presence via Hong Kong

BBVA leverages its century-long banking experience and Hong Kong’s unique position to drive business growth in Asia.

Founded in 1857, Banco Bilbao Vizcaya Argentaria (BBVA) is a Spain-based banking and financial group with an extensive international presence and leading franchises in various markets, including Spain, Mexico, South America, and Turkey. With its customer-centric approach, digital capabilities, and sustainability strategies, BBVA enables its clients to achieve solid performances in their investment management and grow businesses internationally.

Eyeing massive business opportunities in Asia, BBVA established an Investment Solutions team within its Hong Kong branch in 2022 to bolster the global product capabilities of BBVA in manufacturing structured investment products for private banks and asset managers. Currently, the bank has a global network of branches and representative offices, providing financial services to over 30 countries.

Asia’s Top Financial Centre

Eric Michl, Head of Equities of BBVA Asia, views Hong Kong as an ideal business location for international banks. “BBVA is a leading financial group with over EUR40 billion market cap, hence it is crucial for us to establish a presence in Asia and the rest of the world. Hong Kong has become our Asian hub thanks to its unique geographical position, ease of doing business, and the strong possibility to attract and hire talent from across the region and worldwide, helping us cover various markets. It was a strategic decision for us,” Michl stated.

In addition, Hong Kong’s many distinctive advantages, such as the world-class financial system and the transparent and internationally aligned regulatory system, make the city attractive to BBVA. Stephen Sun, Managing Director cum Head of Equity Sales Asia of BBVA, explained, “Hong Kong is an international asset and wealth management centre, leveraging the opportunities brought about by the economic growth and wealth creation in Asia, and increase in portfolio allocation to the Asian markets.” He added, “Global financial product providers, such as BBVA, want to invest in Hong Kong since the city has an effective and robust regulatory system, attracting capital substantially. Moreover, Hong Kong, a compact city, has a vibrant financial ecosystem, facilitating clients and providers to connect and interact with each other readily.”

Leading Digital Transformation and Investing in Sustainability

BBVA’s pioneering commitment to digitisation over a decade ago is a competitive advantage that enables the company to accelerate growth. Recently it has developed “epricer,” a web-based solution for equity and credit investment products, and “C-fit” to provide its equity trading team with one of the most cutting-edge platforms available in the financial sector.

Sun revealed, “BBVA has 89 million customers worldwide, with a 78 percent ratio of digital sales. Our digital capabilities allow us to offer environmentally friendly solutions and personalised advice to our clients, helping them make better banking decisions.” He continued, “Asia’s sizable population is about 60 percent of the total world population. Therefore, with our sustainability strategies and strength in automation, our presence in Asia can substantially contribute to reducing adverse environmental impacts.” Notably, BBVA’s commitment to sustainability has been widely recognised, as evidenced by being rated among the world’s most sustainable banks in the Dow Jones Sustainability Index, the benchmark global reference for sustainability.

As a personal note, the French native Michl has lived in Hong Kong for about 15 years and appreciates the city’s vibrant living culture. For him, multiculturalism, top international schools, exciting happenings in town, and Hong Kong’s breathtaking natural scenery are excellent reasons to make Hong Kong home.