Remote commerce has grown exponentially in recent years, a trend that has been driven by the pandemic. During lockdowns, ecommerce skyrocketed and payments via apps and cell phones grew at a dizzying rate. On top of this, new technologies were already favoring the emergence of new, more convenient payment methods and boosting e-commerce.

As a result of the voluntary takeover bid for the 50.15 percent that BBVA did not own in Garanti BBVA, the Group acquired shares of its Turkish unit, which account for 36.12 percent of its social capital, reaching a total stake of 85.97 percent.

BBVA CEO Onur Genç stated that “BBVA has a competitive advantage” in the context of digital acceleration resulting from the COVID-19 pandemic. “Digitization boosts our business,” he said during his presentation at the 17th Banking Industry Meeting organized by IESE in Madrid. In March 2022, BBVA added 90,000 new customers in Spain - the largest monthly figures in its history. Over half (52.25 percent) of these customers reached the bank through digital channels.

At the presentation of results for the first quarter, BBVA's CEO, Onur Genç, said the bank sees an improved outlook for Spain and Mexico in 2022, "thanks to better-than-expected business dynamics." He pointed out that business dynamics are "highly positive" in all geographies.

BBVA's Board of Directors has agreed to increase the price offered for each share of the 50.15 percent of Garanti BBVA, from the initially announced (12.20 Turkish lira) to 15 Turkish lira.

BBVA has reached an agreement to purchase Tree Inversiones Inmobiliarias SOCIMI from Merlin Properties. The company has 665 offices rented to BBVA. These offices that currently belong to Merlin are part of the package that BBVA sold to Tree Inversiones in 2009-2019 under a sale and lease back contract.