Spain's Bilbao Vizcaya Argentaria Bank (BBVA.US) integrates technology business Spark to enhance its CIB department.

Spanish bank BBVA (BBVA.US) is strengthening its corporate and investment banking departments by integrating technology business from other areas of the bank. According to an internal memo from BBVA, the second largest lending institution in Spain, the bank plans to integrate its BBVA Spark, focused on high-growth tech companies, as well as its digital assets and blockchain strategic department, into the corporate and investment banking departments. As part of this restructuring, Roberto Albaladejo, head of BBVA Spark, will assume the role of global head of sustainable development, industry and cross-border business for the corporate and investment banking departments, reporting to Javier Rodrguez Soler. Santiago Muguruza will lead the Spark department. The corporate and investment banking departments of BBVA account for approximately 25% of the bank's total profit. The department reported a net income of 2.78 billion euros (approximately 2.9 billion US dollars) last year, a 24% increase from 2023. In recent months, BBVA has been recruiting personnel to expand its corporate and investment banking business in the United States and the United Kingdom.