BBVA is gearing up for the first anniversary of the global unification of its brand identity. The introduction in the bank’s different locations is progressing at a good pace, thanks to the coordinated work of local teams to change both physical and digital assets. In fact, some countries like Argentina and Uruguay have already completed the process. On a global scale, in less than a year, over 3,600 branches around the world have been changed, and 1,000 logos have been adapted on different channels.
The change in brand identity has become a new strength for the Group, serving as a catalyst for digital sales. On the other hand, the levels of perception of the change are showing significant positive figures in the countries where BBVA has a presence: it has not affected its awareness and local brands are progressing in their evolution toward BBVA.
At the recent presentation of the bank’s annual results, BBVA Group executive chairman Carlos Torres Vila underscored that one of the most relevant milestones in 2019 was the new brand identity. “We have changed the brand around the world. Now we are one BBVA, with a modern, fresh, dynamic logo that represents the opportunities we aim to create,” he said.
For Brand Finance, this change in identity has recently positioned BBVA as the strongest Spanish brand. In its annual ranking, this international consulting firm that assesses the value of brands recognized the global brand consolidation strategy carried out by the bank. In this ranking, which Amazon led for the third consecutive year, BBVA received the highest score in terms of brand strength for a Spanish company.
Similarly, Interbrand ranks BBVA as the fourth most valuable Spanish brand. The consulting firm reports that 2019 was a year “that could considered iconic for BBVA, as its corporate identity has evolved in order to visually accompany the promise of its tagline, ‘Creating Opportunities’.” According to Interbrand, apart from eliminating local designations, the BBVA brand “continues betting on innovation and digitization to make its positioning tangible, and as the biggest way to set itself apart from competitors.”
Since the brand change was announced in April 2019, BBVA has updated 50 percent of its corporate headquarters and unique buildings around the world. In addition, the bank has produced 21,000 communications for customers with the new brand and over 500 icons for internal and external use.
The BBVA brand identity at a glance. - Source: BBVA
According to Carlos Pérez Beruete , the Global Head of Digital Sales and Marketing at BBVA, the challenge of changing brands goes far beyond the implementation process. “The big challenge is offering a unique value proposition, with a global brand that is capable of adapting to the dynamics of each local market. We know it takes time to change the way consumers remember brands, and they associate themselves with them, but we have had a very positive response. In the largest countries where we operate, we continue to be the bank customers recommend the most.”
The change in brand identity is still underway in other countries, where many of them are over halfway through the implementation process. The Group has over 7,400 branches around the world, and in the digital space, BBVA has around 3,000 applications and platforms that act as a point of contact between the bank and customers and clients.