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BBVA expect to Boost Market Share in Spain

Source: Bloomberg - Tue 12th Feb 2013
 BBVA expect to Boost Market Share in Spain

Banco Bilbao Vizcaya Argentaria SA, Spain's 2nd-biggest bank, expects to increase its share of the domestic market to 20% from 12.5%, Chairman Francisco Gonzalez said.

"The crisis is for us an enormous opportunity to have a much bigger brand," Gonzalez said in a seminar in Madrid today. "I believe in the years to come that BBVA will have at least 20% of this market, so it's very important."

Government orders for banks to clean up soured real estate assets that piled up on their books during Spain's property crash has pressured some to merge or seek state aid. The process has favored larger lenders such as BBVA and Banco Santander, Spain's biggest bank, that can rely on revenue from businesses outside Spain to absorb the costs of the clean-up and an economic recession at home.

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