Article · Wikipedia archive · Last revised Jun 14, 2026

BBVA México

BBVA México is the largest Mexican financial institution (2024), having about 26.7%, of the market. Founded in 1932 as Banco de Comercio (Bancomer), and rebranded from 2000 to 2019 as BBVA Bancomer, its main stockholder is the Spanish bank BBVA. Its headquarters are located at the Torre BBVA México on Paseo de la Reforma in Mexico City.

Last revised
Jun 14, 2026
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≈ 2 min
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Wikipedia ↗
BBVA México S.A., Institución de Banca Múltiple, Grupo Financiero BBVA México
BBVA México
Company type
Partially owned subsidiary / private company
IndustryFinance and Insurance
Founded1932 (1932), as Banco de Comercio (Bancomer)
2000 (2000), as BBVA Bancomer
2019 (2019) as BBVA México
HeadquartersTorre BBVA México,
Mexico City, Mexico
Key people
Manuel Espinosa Yglesias, Carlos Torres Vila, (CEO)
ProductsFinancial services
Number of employees
44,718 1
ParentBBVA
Websitewww.bbva.mx

BBVA Méxicoa is the largest Mexican financial institution (2024), having about 26.7%, of the market.2 Founded in 1932 as Banco de Comercio (Bancomer), and rebranded from 2000 to 2019 as BBVA Bancomer,3 its main stockholder is the Spanish bank BBVA.4 Its headquarters are located at the Torre BBVA México on Paseo de la Reforma in Mexico City.

By the end of 2025, BBVA Mexico was the largest financial group in the country, with a network of 1,635 branches and 14,381 ATMs distributed throughout the country's 32 states,1 with a 32.5% market share.5

History

BBVA México, formerly Bancomer (Banco de Comercio), was founded in Mexico City in 1932 by Salvador Ugarte, Raul Bailleres, Liberto Senderos, Mario Dominguez, and Ernesto Amescua, with Ugarte holding about two-thirds of the shares, possibly for other investors. In 1982, Bancomer was nationalized when President José López Portillo nationalized the country's banking system. In 1991, during the presidency of Carlos Salinas de Gortari, Bancomer was again privatized when a group of investors led by Eugenio Garza Lagüera bought the majority of the stock. In July 2000, Spanish Banco Bilbao Vizcaya Argentaria purchased most of Bancomer S.A.'s public stock from Canadian-based BMO Financial Group, merging it with the Mexican BBVA-owned bank Probursa. In February 2004, BBVA bought the remaining shares of Bancomer S.A.'s public stock to take complete ownership of the bank.6

In June 2019, BBVA unified its brand worldwide and BBVA Bancomer was renamed BBVA México.7

As December 2023, BBVA México serves over 30.2 million customers, has 1,706 bank locations, and 14,500 ATMs. It currently operates as fully owned subsidiary of Spanish BBVA Group. It represents 40%8 of the total revenues of BBVA worldwide, making it the biggest bank of the group outside Spain.

BBVA is also the title sponsor of Liga MX soccer since 2002.

Notes

Notes

  1. Legal company name: BBVA México S.A., Institución de Banca Múltiple, Grupo Financiero BBVA México
References

References

  1. "GFBB in Brief". Retrieved 13 March 2025.
  2. Funds Society (30 January 2025). "BBVA México colocó 4.849 millones de dólares deuda en 2024". fundssociety.com. Retrieved 13 March 2025.
  3. America's Insider. "BBCA buys 49% of Bancomer". Allbusiness.com. Retrieved 5 August 2008.
  4. "VISION:Clients: BBVA Bancomer". Vision. Archived from the original on 26 February 2012. Retrieved 5 August 2008.
  5. "Ganancias de los bancos pierden fuerza en 2025" (in Spanish).
  6. "BBVA to Buy the Rest of Bancomer in Mexico - Global Custodian – the Leading quarterly magazine covering the international securities services industry". 4 February 2004.
  7. "BBVA to unify its brand worldwide, changes its logo" (Press release). PR Newswire. December 24, 2019.
  8. La Celosía. "La filial mexicana Bancomer aportó más del 40% del beneficio de BBVA".
External links