Banco Bilbao Vizcaya Argentaria, S.A. (or BBVA), one of Spain's oldest banks, is a large diversified financial services firm with total assets of €537 billion (US $772 billion).^[1] With 48 million customers, 108,000 employees, presence in over 32 countries, and over 8,000 branches, BBVA is the second largest financial institution in Spain and ranks among the top seven largest financial institutions in the world in terms of market capitalization.^[2] BBVA provides a wide range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance, but its strength lies in traditional retail banking, asset management, private banking and wholesale banking.^[3]

The group's primary source of funds is its customer deposit base, which includes demand, savings and time deposits, accounting for €255.236 billion (US $347 billion) out of €450.605 billion (US $612.6 billion) total deposits--other sources of funds include debt securities in issue, and dues to credit entities.^[4] The group's main source of income is interest on loans provided.^[5]

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