Spanish banking giant BBVA has unveiled plans to invest over 100 billion pesos ($5.19 billion) in Mexico during the 2025-2030 period, representing a significant long-term commitment to the Latin American market.

The announcement was made by chair Carlos Torres Vila during BBVA Mexico's 2025 National Meeting of Regional Advisors, where he outlined the bank's strategic priorities for the coming years. "The 100 billion pesos that we are announcing is not only an investment. It's confidence. It's a long-term vision. Because when Mexico grows, we all grow," Torres Vila said.

The investment forms part of BBVA's new five-year strategic plan, which focuses on six key priorities including embedding a "radical client perspective" and boosting sustainability as a growth engine. Torres Vila emphasised the bank's commitment to Mexico, stating: "BBVA is with Mexico, and Mexico will always have BBVA."

BBVA reported strong financial performance in 2024, with net attributable profit reaching €10.05 billion, representing a 25 per cent increase over the previous year. The bank's lending business grew by 14.3 per cent globally, with BBVA Mexico showing particularly strong growth of more than 17 per cent.

The bank has experienced remarkable customer growth, with its active customer base expanding from 53 million to 77 million over the past five years. In Mexico specifically, customer numbers increased from 21 million in 2019 to 32 million in 2024.

Eduardo Osuna, vice president and chief executive officer of BBVA Mexico, highlighted the importance of digitising Mexico's economy to address informality and reduce cash dependency. He said that 85 per cent of payments in Mexico were made in cash in 2024, with only 15 per cent allowing for financial tracking.

"Digitising the economy is the first step toward curbing informality and use of cash," Osuna said, emphasising the need for collaboration between government and private sector to implement Plan Mexico effectively.

BBVA Mexico currently manages a portfolio worth 1.9 trillion pesos and injected 2.8 trillion pesos in new credit into the Mexican economy over the past 12 months. The bank aims to support Mexico's goal of raising investment to over 25 per cent of gross domestic product.

Torres Vila noted Mexico's strategic position as the United States' largest trading partner, having surpassed China, with bilateral trade exceeding $760 billion. "Mexico has the structural strengths and competitive advantages needed to emerge stronger in this increasingly complex world," he stated.

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