The plan, which focuses on becoming the best-bank-in-the-best-region (dubbed “BiB”), provides an ambitious road map aimed at growing the bank while transforming the way it does business through continuous improvements in data, technology and operations.
Rodríguez Soler: "We created a thorough and collaborative plan that we believe is ambitious, achievable and fully aligned with BBVA Group global objectives."
“Over the course of many months in 2019, the strategic planning team took a look at the external and internal factors that may impact the operating environment for BBVA USA,” Rodríguez Soler said. “Based on a solid understanding of the macro environment in the region of the country where we operate, our market position and some of opportunities we see to transform certain areas of the bank, we created a thorough and collaborative plan that we believe is ambitious, achievable and fully aligned with BBVA Group global objectives."
Underscored by six pillars that are guiding BBVA globally, the plan for continued growth at BBVA USA includes developing solutions that help clients improve their financial health through advanced technological innovation and a focus on a future grounded in sustainability.
Rodríguez Soler: "We must align our business efforts with the social and environmental challenges that we all face for continued success."
“Our Executive Chairman Carlos Torres Vila has said many times that the future of finance is financing the future,” Rodríguez Soler said. “This means that we must align our business efforts with the social and environmental challenges that we all face for continued success - as our society goes, so too do we.”
BBVA has solid reason to believe it will be successful in its efforts, with advantages over both traditional and digital competitors, including solid operations in key geographies, relevant areas of opportunity within lines of business, ample competitive advantages as part of a Global Group, and a strong and engaged employee base. Rodríguez Soler indicated that these advantages will be key as it looks to maintain and increase growth.
Rodríguez Soler: "BBVA USA operates in the world’s strongest economy, one that possesses a leading business climate and a solid core of innovation."
He said, “BBVA USA operates in the world’s strongest economy, one that possesses a leading business climate and a solid core of innovation. Texas, where BBVA is the strongest, even boasts the single largest economy in the BBVA global footprint. We have one of the most, if not the single most, attractive operating environments of any of BBVA’s subsidiary banks.”
BBVA USA President and CEO Javier Rodríguez Soler
Even as it looks to maintain and increase growth, Rodriguez Soler says the bank also intends to deepen the transformation that has changed the way it does business and, in so doing, set a solid foundation for its future.
Rodriguez Soler: "The plan to grow and transform at the same time is complex, but necessary."
“The plan to grow and transform at the same time is complex, but necessary. Even so, we’re going to need every U.S employee, as well as strong collaboration with our colleagues throughout the rest of the Group, to help us meet our lofty objectives,” said Rodríguez Soler. “Now that the strategy is in place, it’s time for coordinated and focused execution.”
Rodríguez Soler said that while he doesn’t expect the execution of the plan to be easy, he can see a clear path to the bank’s future. He says it’s the bank’s most important asset, its employees, and their willingness to throw their weight behind the vision of what the bank can become with its sound digital and sustainable value propositions, that will carry it into the future.
Watch BBVA.com in the coming weeks for stories describing each of the six strategic pillars in more detail.