In the first quarter of 2024, BBVA’s corporate and investment banking (CIB) segment mobilized €10.4 billion, an increase of 79 percent compared to the previous year. This success can be attributed to the strong performance of all products within this segment, including long-term financing options, short-term financing options, green, social, and sustainable bond brokerage services, and cleantech financing for wholesale clients.
One notable achievement was the bank’s support for renewable energy projects and reverse factoring initiatives tied to sustainability goals. This included the financing of renewable energy projects that amounted to around €800 million in the first quarter of 2024, more than double the amount reported in the same period of 2023. The bank also continued its focus on promoting digital solutions tailored for mass consumers, highlighting potential savings that customers could achieve by adopting energy-saving measures at home and while on the go. An impressive €124 million was allocated specifically for financing hybrid or electric vehicle purchases in retail business sector.