BBVA Switzerland celebrates fifty years since it opened its doors in the city of Zurich, the world capital of private banking. Since then, the bank has focused on financial excellence to bring opportunities and solutions adapted to the evolution of the world and of future generations.
Since its inception half a century ago, the growth journey of BBVA in Switzerland has been an exciting one. The challenges have been great; and the achievements, remarkable. The bank has focused on offering an exceptional international private banking service, with a business model centered on the customer, and technology as a key element to deal with the transformation process facing the financial industry.
The DNA of BBVA Switzerland
BBVA Brand
On the one hand, one of the main features of the unit is its open architecture. BBVA Switzerland has the flexibility and efficiency of a bank with a multidisciplinary team of 123 professionals from the most diverse areas. With over 14 nationalities represented, its employees speak up to 8 different languages and share a culture and values with their customers, who are primarily located in Europe and Latin America.
Thus, on a small scale, BBVA Switzerland has decided to integrate all the management and operational departments typical of a large financial institution. With a focus on efficiency and personalized service, this compact structure combines the functions of the different teams to provide the best solution to customers, from the first line of the commercial area with expert bankers, to other departments like investment, advice, financial, risks, legal, regulatory compliance, AML, technology, customer solutions, and more.
At the same time, it brings together the opportunities available to it as part of a large group such as BBVA, with a history of 165+ years and an extensive presence in the countries where the Swiss unit operates. This is not only a great resource pool, it also allows it to gain a close understanding of the reality facing its international customers.
Swiss brand
Beyond chocolate, watches and its spectacular lakes and mountains, Switzerland is known worldwide for being a prosperous and solid country, to the point of becoming a global financial center with more than 270 years of history and tradition. Switzerland manages over 25% of private assets held abroad worldwide. It has a AAA credit rating and leads the global ranking of innovation and sustainability. In addition, in recent years it has cemented itself as a blockchain hub, with more than 1,100 companies in Crypto Valley.
Recently, the bank announced the launch of its latest initiative, a series of 10 educational pills on Switzerland that will be published monthly on its website. From a historical context, its concept of cross-cutting efficiency, to the advanced regulatory framework of the crypto ecosystem, BBVA Switzerland aims to explain and highlight all the components that have helped the country become a global powerhouse in well-being, economy and innovation.
Historical changes
The history of BBVA in Switzerland dates back to 1974, when it opened in Zurich as Banco Exterior (Suiza), a subsidiary of Banco Exterior de España.
Despite the international uncertainty, Switzerland offered confidence and political stability, making it the perfect environment for Banco Exterior (Switzerland) to consolidate itself institutionally and lay the foundations for its expansion. Soon, its customers discovered the bank's unique value proposition compared to other private banks.
The transformation of banking
The world is changing. We live in a complex macroeconomic environment characterized by more uncertainty globally, lower economic growth, low interest rates, increasing regulatory requirements and customer expectations, strong competition, geopolitical tensions, environmental challenges and the emergence of new risks (cybersecurity or the Covid-19 pandemic, for example).
Given these circumstances, small banks in Switzerland have experienced a greater contraction in recent years. Of the 122 banks in 2010 with a volume of AUM below 10 billion francs, only 56 were left by the first quarter of 2023. In this space, BBVA in Switzerland has been able to reposition itself, returning to its roots, to innovation, efficiency and productivity in its operational model.
![Number of Swiss private banks by asset volume](/en/content/dam/public-web/suiza/images/blog/sobre-bbva/sobre-suiza/50-aniversario/50-aniversario-bancos.im1716796267769im.png?imwidth=3200)
Creating opportunities
The rapid adoption of BBVA Switzerland's digital asset trade and custody service has made BBVA a key figure in guaranteeing the operational security of its institutional and private banking customers, and underscored the essential role of banking within the blockchain ecosystem. In the years since its incorporation, BBVA Switzerland has received numerous accolades.
Recently, the company received the “Best Digital Asset Service” prize at the latest edition of The Innovator awards, organized by the international magazine Global Finance. And just a few months ago, it was also a winner at the Private Banking & Wealth Management Switzerland Awards 2023 in the 'Excellence in Client Experience' category.
On this path towards the banking of the future, BBVA Switzerland has demonstrated resilience and commitment, strengthening its services and customer relations through four main drivers:
Switzerland, a winning formula
DEMOCRATIZATION OF INVESTMENT
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TECHNOLOGY AS AN ALLY
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To rectify the idea that investing is not for everyone, democratizing access to finance and the world of investment, with all the options available on the market.
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To focus the business model to keep offering value and enable synergies that guarantee a streamlined, unique and personalized advisory service.
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FINANCIAL EDUCATION
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SUSTAINABILITY AND VALUES
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To help boost the culture of financial education as a personal and societal goal, providing a great benefit to improve the quality of life of people and society.
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To contribute to the transformation towards a greener world by relying on values as a core element, where people are critical to consolidate change.
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