Onur Genç: “At BBVA, we are adopting AI better than our competitors, just as we did with digitalization”
BBVA CEO Onur Genç said in London on Tuesday that artificial intelligence (AI) will drive the next major transformation of the sector and that the bank is very well positioned to address this new cycle. The Group was a pioneer in the digitalization era and is taking the same approach to AI: early adoption, rapid scaling and a transformation around this new technology. “We do believe we are embracing this technology better than our competitors,” he said during his participation in the CEO conference organized by Bank of America.
Onur Genç highlighted that innovation and transformation are part of BBVA’s DNA and constitute one of its structural advantages. AI will make it possible to better understand and serve customers, while also changing the way the bank operates. As he explained, BBVA is moving towards a hyper-personalized and conversational model, in which Blue, the personal assistant for customers, is evolving into a financial assistant capable of better understanding and anticipating customers’ needs.
In his view, the opportunity offered by this technology goes far beyond cost efficiencies, with significant potential on the revenue side through greater personalization, better advice and stronger commercial productivity.
The virtuous circle of capital generation, profitable growth and shareholder value
Onur Genç also highlighted BBVA’s business model, based on profitable growth and disciplined capital allocation. In this regard, he stressed that BBVA offers a unique profile, at the forefront of European banking, combining growth and profitability. From December 2020 to June 2026, the bank’s loan book grew by 62% in current euros, compared with an average of 13% for its European peer group. At the same time, BBVA’s CEO underscored that over the past five years the Group has widened the profitability gap with its peer banks. In the first half of 2026, it achieved a ROTE of 22.2%, well above the 15% average of its European competitors.
Genç highlighted four factors that make this profitable growth sustainable over time: the low leverage in the countries where BBVA operates; having meaningful scale in each market; its commitment to innovation; and disciplined capital allocation that ensures attractive risk-adjusted returns above the cost of capital.
BBVA’s profitable growth has helped drive capital generation and shareholder distributions. In this regard, he recalled that over the past four years the dividend has tripled (from €0.31 charged against 2021 earnings to €0.92 in 2025). He also expressed confidence that this year’s shareholder remuneration will be significantly higher. “As long as growth is profitable, there is no trade-off: growth allows you to generate more capital, distribute it to shareholders and continue investing to drive further growth, thus creating a virtuous circle,” he said.
Positive outlook for Mexico, Spain and Turkey
Asked about Mexico’s future, Onur Genç said that both the macroeconomic outlook and the outlook for the financial sector are positive, with stable GDP growth and low leverage in the economy. He also highlighted that Mexico continues to maintain a highly competitive position in its trade relationship with the U.S., with strong export performance, and that the two economies need each other. He also pointed to the evolution of private investment in Mexico, where he expects a positive boost from Plan México, launched by President Claudia Sheinbaum.
Regarding competition from other banks and fintechs in the country, he said that BBVA is very well positioned to compete and capture market opportunities across all segments, supported by a highly differentiated franchise with structural advantages that are difficult to replicate: leadership, scale and physical infrastructure, and a commitment to innovation, among other factors. “We have the best technological capabilities in Mexico and the best customer satisfaction figures in the banking sector. We are acquiring more customers than any digital bank in the country,” he stressed.
Regarding Spain, BBVA’s CEO expects the economy to continue growing well above the eurozone, driven largely by immigration, the services sector and increased investment. This, together with several years of private-sector deleveraging, supports sustainable and healthy credit growth.
Onur Genç highlighted BBVA’s position in the country, its brand recognition and its deep customer relationships, which allow the bank to be closely connected to their day-to-day financial activity. Thanks to this strategy and disciplined capital allocation, over the past five years (through July 2026), BBVA has gained around 260 basis points of market share in consumer lending and 250 basis points in enterprises.
On Turkey, he acknowledged that the short-term environment has become more complex due to higher-than-expected inflationary pressures as a result of rising energy prices. This has led to a pause in the country’s monetary easing cycle, with implications for BBVA’s business, which has positive sensitivity to lower rates. Against this backdrop, the bank maintains a downward bias to its €1 billion net profit forecast for 2026. However, Genç said that BBVA’s long-term view of the country has not changed. BBVA’s CEO expects the Turkish franchise to increase its contribution to the Group as inflation moderates over the coming years: “We have the best bank in the country,” he said.
Regarding the Rest of Business area, he highlighted that the key for BBVA is to stay close to its clients wherever they are. Thanks to this strategy, the bank is achieving high levels of activity growth (above 50%) while ensuring that this growth is profitable.