BBVA, the largest bank in Mexico and the only foreign bank operating in Venezuela through its BBVA Provincial firm, has surpassed an annual utility of over 4,000 million dollars. In recent years, BBVA has sought to reduce its operations in Venezuela, specifically its branch network, and has already made significant progress by enabling part of its workforce to work remotely. BBVA controls 55% of the capital of Provincial. The Spanish bank entered the South American country at the end of the 1990s and managed to navigate through the entire Chavist era without being expropriated, despite repeated threats from the governments of Hugo Chávez and Nicolás Maduro. Sources from the bank indicated to LPO that, following greater U.S. intervention, the fall of Maduro, and the rise of Delcy Rodríguez, BBVA expects to be able to close part of its branch network in Venezuela, something it could not do due to Maduro's pressures. The bank has 3 million customers in Venezuela, a network of 160 branches, and around 2,000 employees. In 2025, it reported a profit of 55 million euros, which is 0.7% of the group BBVA's total result. The annual profit usually hovers around 50 million dollars.
