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BBVA to open office in Miami

Thu 22th Sep 2011

The second-largest Bank in in Spain, Banco Bilbao Vizcaya Argentaria (BBVA) is due to open a commercial banking facility in the financial district of Miami in the USA.

The bank will operate as a subsidiary company, BBVA Compass, and will focus on corporate banking with a number of government agencies and schools as well as clients from the healthcare and real estate sectors.

BBVA has followed Spain's Banco Santander, Banco Popular and Banco Sabadell in forging a presence in Florida.

"The Spanish banks that have come here have come in a very committed way. They're here for the long haul. The Spanish banks are good operations - they're patient capital." according to Ken Thomas, a Miami-based independent banking consultant and economist .

Thomas added that he expects BBVA to expand beyond their new base in South-Florida in the relatively near future.

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