BBVA Outlines Its Roadmap for Mexico Through 2029, Focused on Growth and Transformation

The forum was opened by BBVA CEO Onur Genç, who explained that during this session the bank will delve deeper into the priorities of its 2025–2029 Strategic Plan and the main areas underpinning its long-term targets. In this regard, he anticipated that “we will continue to deliver on our targets, in a context of uncertainty such as the current one.” To this end, BBVA relies on structural strengths such as its diversification, its presence and leadership in markets with high growth potential, and its competitive advantage in innovation and digital capabilities. “We are very focused on our strategy,” he said.

During his speech, BBVA’s country manager in Mexico, Eduardo Osuna, first provided a detailed overview of Mexico’s economic environment. BBVA expects economic activity to recover to 1.8 percent in 2026 and to 2.0 percent in 2027, driven by private investment and job creation, with inflation gradually converging toward the central bank’s target and the reference rate estimated at around 6.5 percent. “Looking ahead, we have a much better macroeconomic outlook for Mexico than in 2025,” said Osuna.

He also highlighted the still-low penetration of credit in Mexico vs. other comparable economies. “BBVA has been able to benefit from this potential, but it remains a major source of opportunity,” he said. In his view, despite the progress made in recent years, financial inclusion in Mexico still has ample room to expand, particularly in the micro, small and mid-sized enterprise (MSME) segment, supported by the country’s demographic structure.

This is complemented by the favorable environment for foreign direct investment in Mexico and the positive impact of nearshoring and the first measures promoted by Mexican president Claudia Sheinbaum under ‘Plan México'. Furthermore, amidst the review of the Free Trade Agreement with the U.S. and Canada, Mexico is strengthening its competitive position in global trade, which has translated into an increase in market share in imports from the U.S. “Mexico is clearly consolidating its role as the leading trading partner of the United States,” Osuna added.

Secondly, Eduardo Osuna provided an overview of the competitive environment of the Mexican banking sector, where BBVA holds a clear leadership position, with a market share above 25 percent in lending and 24 percent in deposits. “We have increased our lending market share by 300 basis points since 2018. We are the fastest-growing competitor among the large banks,” he said. The bank also leads across products and segments in both wholesale banking — including large enterprises and SMEs — and retail banking, with key products such as credit cards, consumer loans, mortgages and insurance.

BBVA Mexico has strengthened this leadership through a product-focused commercial strategy and strong execution capabilities, with particular momentum in credit cards, payroll loans and the corporate segment. In wholesale banking, the bank has reinforced its industry-based segmentation, achieving a 28.3 percent penetration among mid-sized companies -from 10 percent three years ago- and a 21.8 percent market share in corporate lending, growing in sectors such as real estate, agribusiness and institutions, with sustainability becoming an additional driver of growth. At the same time, “BBVA has reshaped the SMEs market in Mexico.” Since launching its specialized network in 2019, the bank has significantly expanded its presence in this segment, adding more than 530,000 new customers through initiatives such as ‘Banco de Barrio’,aimed at fostering access to banking services.

From a customer experience perspective, Osuna noted that BBVA’s main competitors are now fintech players. The bank maintains a clear advantage in customer recommendation and brand strength vs new entrants. BBVA reached a Net Promoter Score (NPS) of 69.7 points in 2025, above fintech competitors and well ahead of traditional incumbent banks.

“We consider ourselves the largest fintech in Mexico,” he added. This is reflected in digital customer acquisition, which already accounts for 81 percent of total acquisitions, compared with 25 percent in 2019. The digital customer base has grown to 27 million — 2.7 times more than in 2019 — and digital end-to-end sales now represent over half of total sales. This progress is supported by the BBVA app, which serves as the gateway to a zero-fee transactional ecosystem for individuals, with more than 24 million customers with increasingly personalized experiences enabled by artificial intelligence. “We have 27 million personalized apps, one for each customer,” he added.

BBVA continues to gain market share in the credit card market despite intensifying competition. The bank’s market share has increased to 31.4 percent, up from 30.8 percent in 2022, representing a gain of 60 basis points and remaining well ahead of neobanks. Currently, more than 10 million customers have an active credit card with BBVA, representing 30.7 percent of its total customer base as of December 2025. Moreover, among customers who also use neobanks, more than 99 percent of credit card spending continues to be carried out with BBVA twelve months after the shared relationship begins.

Artificial intelligence, key to improving the customer experience

Over the past 15 years, BBVA Mexico has undergone a deep transformation — from improving its branch network and customer experience processes to becoming a digital leader with the leading banking app and strong end-to-end digital sales capabilities. Today, artificial intelligence has become a strategic priority and a source of competitive advantage. This transformation has enabled the bank to scale its customer base through digital capabilities while maintaining a disciplined set of onboarding criteria and risk management. This has been accompanied by a shift in the focus of the commercial network toward higher-value segments such as insurance, auto finance and mortgages. Eduardo Osuna explained that when customer growth, cost control and risk discipline come together, they clearly contribute to improved efficiency.

BBVA is incorporating the customer perspective in Mexico — as in the rest of the Group — in a radical way into everything it does. “Artificial intelligence is the foundation on which we are redefining how we do banking in Mexico,” he noted. In this regard, he explained that the bank’s strategy includes reinventing interactions with customers through hyper-personalized experiences; expanding service through voice solutions integrated into digital channels — such as the Blue advisor —; and enhancing the advisory capabilities of relationship managers in SMEs, as well as in commercial and corporate banking, through support robots. In addition, AI will also help improve productivity in areas such as risk management, accelerating processes and optimizing decision-making.

Finally, Eduardo Osuna highlighted the bank’s ability to attract talent in Mexico: “We are the second company where people want to work in Mexico, both among university students and young professionals, across all industries,” he concluded.