Executive Summary
BBVA Corporate & Investment Banking (CIB) is executing a strategy centered on sustainable growth, sector specialization, and global expansion. In 2025 its revenues rose sharply—recording €1.71 billion in Q1 (+36 % YoY) and €3.194 billion in H1 (+28 % YoY)—while its sustainable finance activity climbed substantially, aligned with a new target of €700 billion over 2025-2029. BBVA aims to double its CIB revenues from a 2024 baseline of €5.8 billion by 2029 alongside expansion in key geographies like Brazil and investment in technology and AI.”
Analysis
BBVA CIB’s recent performance and its strategic outlook suggest a shift toward higher-margin, sustainable, and globally diversified banking operations. Surging revenues across Global Markets, Global Transaction Banking, and Investment Banking & Finance units indicate that BBVA is effectively leveraging macro volatility and client demand in sectors like energy, industry, and consumer services to drive earnings growth. The uptick in sustainable finance—€31.9 billion mobilized by CIB in H1 2025, including €1.6 billion for renewable energy alone—underscores ESG finance as a core accelerator for future earnings and reputation. By setting a more ambitious sustainable business target (€700 billion for 2025-2029) and outperforming 2024 goals ahead of schedule, BBVA is aiming to make ESG integral to all its businesses, not just a peripheral offering.
On the revenue growth front, doubling CIB revenues from €5.8 billion in 2024 to around €11-12 billion by 2029 reflects aggressive expansion, both organically and through strategic hiring, particularly in Brazil. This expansion comes at a time when competition for investment banking mandates is intense and regulatory, interest rate, and macroeconomic risks continue to pressure bank margins globally.
Strategic priorities announced by BBVA for 2025-2029 reinforce its operational philosophy: radical client focus, sustainability as a growth driver, technology and AI-enhanced transformation, and optimized capital deployment. These suggest incremental value through cross-border capabilities, sector-specialized advisory, improved client journeys, and efficiency gains. However, execution risks include slowing global deal flows, regulatory headwinds (particularly ESG regulation), maintaining profitability in low-margin segments, and potential overexposure to country risk, especially in emerging markets.
Altogether, BBVA CIB is positioning itself as a global partner for companies navigating energy and digital transitions, seeking resilient capital structures, and requiring advisory and tailored financing solutions. For investors, this represents a pivot toward long-term growth, higher ESG alignment, and diversification—but also demands scrutiny of delivery on ambitious revenue targets, cost-management effectiveness, and risk oversight across geographies.
Supporting Evidence
- In Q1 2025, BBVA CIB generated revenues of €1.71 billion, up 36 % YoY excluding hyperinflationary effects; its attributable profit reached €828 million, a 41 % increase YoY. [1]
- In the first half of 2025 revenues were €3.194 billion (+28 % YoY), and profit €1.553 billion (+34 % YoY). [2]
- CIB’s sustainable finance activity reached approximately €31.9 billion in H1 2025, up 34 % YoY, with €1.6 billion alone in renewable energy project financing. [2]
- BBVA has raised its target to channel €700 billion into sustainable business between 2025-2029, doubling its previous 2018-2025 target. [3]
- BBVA’s strategy for 2025-2029 includes six strategic priorities: radical client perspective; sustainability as growth driver; developing corporate banking; capital optimization; transforming via technology and AI; and culture rooted in purpose and people. [4]
- BBVA aims to double revenues of its Corporate & Investment Banking division from a 2024 base of €5.8 billion to around €11-12 billion by 2029. [5]
- Significant geographic expansion plans, including a substantial boost to its Brazil office, to support the revenue growth ambition. [5]
- Business unit performance across GBM, GTB, IB&F all saw double-digit revenue growth—GM +31–52 % YoY, GTB +17–19 %, IB&F +32–33 % in various measured periods. [1][2]
Sources
- [1] www.bbvacib.com (BBVA CIB) — 29 April 2025
- [2] www.bbva.com (BBVA) — April-May 2025
- [3] www.bbva.com (BBVA) — 5 August 2025
- [4] www.bbva.com (BBVA) — 18 June 2025
- [5] www.reuters.com (Reuters) — 12 March 2025