BBVA Consolidates Tech Units, Plans Hiring of 2600 STEM Professionals
Spanish banking giant BBVA (BME:) has announced the integration of its three tech subsidiaries – BBVA Next Technologies, BBVA IT España, and Datio into a unified entity, BBVA Technology.
BBVA, one of Spain’s largest banks, is taking a significant step towards enhancing its technical capabilities by consolidating its three tech subsidiaries — BBVA Next Technologies, BBVA IT España, and Datio. The integration, set to be completed next year, will bring together approximately 3,000 employees from Madrid, Barcelona, and Bilbao under the umbrella of BBVA Technology. The newly formed entity will be headed by Ricardo Jurardo.
Strengthening Technical Prowess and Creating Growth Opportunities
The main objective behind this consolidation is to bolster BBVA’s technical expertise while creating new avenues for professional growth. By streamlining operations and establishing a unified brand identity, the bank aims to enhance its value proposition. BBVA Engineering has identified software development transformation as a strategic priority, making it the primary focus of the consolidated company.
BBVA’s Financial Performance and Stability
BBVA’s financial health is reflected in its market capitalization of 47.08 billion USD and low P/E ratio of 6.33, indicating a favorable valuation. The bank has also witnessed a revenue growth rate of 23.85% and achieved a commendable return on assets of 1.07%. These figures underscore BBVA’s stability and solid performance in the market.
A Leader in the Banking Industry
BBVA is a prominent player in the banking industry, consistently increasing its earnings per share. The bank’s commitment to its shareholders is evident through its uninterrupted dividend payments for 33 consecutive years. This track record demonstrates BBVA’s stability and dedication to providing value to its investors.
Talent Acquisition Strategy and Global Recruitment Initiative
BBVA is not only focusing on internal restructuring but also planning a significant talent acquisition strategy. The bank aims to hire over 2600 STEM professionals worldwide through its dedicated jobs portal. This global recruitment initiative aligns with BBVA’s broader vision of strengthening existing teams, fostering satisfaction and loyalty, and attracting new talent from diverse backgrounds.
Augmenting Technical Expertise and Career Development Opportunities
As an internationally recognized tech-focused bank, BBVA’s latest move underscores its commitment to enhancing its technical proficiency and providing extensive career development opportunities for its employees. This commitment, combined with BBVA’s strong financial performance, positions the bank as a key player in the banking industry.
For more insights and exclusive tips, explore InvestingPro’s premium service. Gain access to a wealth of real-time metrics and valuable information to make informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information, please refer to the terms and conditions.
