Business · Companies · 2 hrs ago
BBVA surpasses one million customers in Italy
BBVA has passed one million customers in Italy five years after entering the country's retail banking market.
The bank had set this target for the end of 2026, after revising its original plan to attract 100,000 customers a year.
It now wants to become its customers’ main bank, while keeping its digital-only model.
A BBVA study found that only 8% of Italian customers use a digital bank as their main bank, with trust in security, service and the bank's financial strength among the factors involved.
The bank is working to build trust and offers products including mortgages, loans, savings and investments.
Its online account currently pays 4%, and the bank also promotes cashback on card purchases.
Winning more main-bank customers matters for profitability, although BBVA has not disclosed its profitability in Italy; it also plans to continue developing its investment banking business there.
BBVA has surpassed one million customers in Italy, five years after entering the country’s retail banking market.
The bank had set the target for the end of 2026 after revising its original plan to attract 100,000 users a year.
President Carlos Torres said BBVA is entering a new phase focused on becoming its customers’ main bank.
BBVA is expanding its product range and highlighting trust and security as it seeks to deepen customer relationships.
The bank also plans to continue developing its investment banking business in Italy.
- Who
- BBVA, led by president Carlos Torres.
- What
- BBVA surpassed one million customers in Italy and said it would focus on making the bank its customers’ main bank.
- When
- Five years after BBVA began retail banking in Italy, in October 2021. The milestone was reported on 23 October 2026.
- Where
- Italy.
- Why
- BBVA wants to grow in the country and increase customer engagement, which it says is relevant to the business’s profitability.
This story does not have two clearly opposing sides.
BBVA began retail banking in Italy with an online banking offer.
BBVA had set a target of reaching one million customers by this point.
BBVA’s one-million-customer milestone was reported as the bank marked five years in Italy.
- Customers in Italy
- More than 1 million
- Time in the market
- Five years
- Original annual target
- 100,000 users
- Digital banks as main bank
- 8% of Italian customers, according to a BBVA study
- Online Account rate
- 4%
What people are saying
We have reached one million customers, which reflects the success of our 100% digital banking model. Now we are starting a new phase in Italy, focused on becoming our customers’ main bank. Our commitment to Italy is long term and we want to continue growing in the country.