The forum was opened by BBVA CEO Onur Genç, who explained that during this session the bank will delve deeper into the priorities of its 2025–2029 Strategic Plan and the main areas underpinning its long-term targets. In this regard, he anticipated that “we will continue to deliver on our targets, in a context of uncertainty such as the current one.” To this end, BBVA relies on structural strengths such as its diversification, its presence and leadership in markets with high growth potential, and its competitive advantage in innovation and digital capabilities. “We are very focused on our strategy,” he said.
During his speech, BBVA’s country manager in Mexico, Eduardo Osuna, first provided a detailed overview of Mexico’s economic environment. BBVA expects economic activity to recover to 1.8 percent in 2026 and to 2.0 percent in 2027, driven by private investment and job creation, with inflation gradually converging toward the central bank’s target and the reference rate estimated at around 6.5 percent. “Looking ahead, we have a much better macroeconomic outlook for Mexico than in 2025,” said Osuna.
He also highlighted the still-low penetration of credit in Mexico vs. other comparable economies. “BBVA has been able to benefit from this potential, but it remains a major source of opportunity,” he said. In his view, despite the progress made in recent years, financial inclusion in Mexico still has ample room to expand, particularly in the micro, small and mid-sized enterprise (MSME) segment, supported by the country’s demographic structure.
This is complemented by the favorable environment for foreign direct investment in Mexico and the positive impact of nearshoring and the first measures promoted by Mexican president Claudia Sheinbaum under ‘Plan México‘. Furthermore, amidst the review of the Free Trade Agreement with the U.S. and Canada, Mexico is strengthening its competitive position in global trade, which has translated into an increase in market share in imports from the U.S. “Mexico is clearly consolidating its role as the leading trading partner of the United States,” Osuna added.
Secondly, Eduardo Osuna provided an overview of the competitive environment of the Mexican banking sector, where BBVA holds a clear leadership position, with a market share above 25 percent in lending and 24 percent in deposits. “We have increased our lending market share by 300 basis points since 2018. We are the fastest-growing competitor among the large banks,” he said. The bank also leads across products and segments in both wholesale banking — including large enterprises and SMEs — and retail banking, with key products such as credit cards, consumer loans, mortgages and insurance.
BBVA Mexico has strengthened this leadership through a product-focused commercial strategy and strong execution capabilities, with particular momentum in credit cards, payroll loans and the corporate segment. In wholesale banking, the bank has reinforced its industry-based segmentation, achieving a 28.3 percent penetration among mid-sized companies -from 10 percent three years ago- and a 21.8 percent market share in corporate lending, growing in sectors such as real estate, agribusiness and institutions, with sustainability becoming an additional driver of growth. At the same time, “BBVA has reshaped the SMEs market in Mexico.” Since launching its specialized network in 2019, the bank has significantly expanded its presence in this segment, adding more than 530,000 new customers through initiatives such as ‘Banco de Barrio’,aimed at fostering access to banking services.