|Bilbao Bizkaia Kutxa headquarters in Bilbao|
Bilbao Bizkaia Kutxa, Aurrezki Kutxa eta Bahitetxea (BBK) is a Spanish savings bank based in the province of Biscay in the Basque Country. BBK is the ninth-largest savings bank in Spain based on consolidated assets. It operates through a network of more than 790 branches, 590 of which are located outside the province of Bizkaia. Bilbao Bizkaia Kutxa is the entity resulting from the merger between Caja de Ahorros y Monte de Piedad Municipal de Bilbao and Caja de Ahorros Vizcaína, which was formalised in 1990. As of December 31, 2011, BBK had EUR 28.888 billion in total assets.
In 2011, BBK merged with other Basque savings banks, Kutxa (Caja de Ahorros y Monte de Piedad de Gipuzkoa y San Sebastián) and Caja Vital (Caja de Ahorros de Vitoria y Álava) to form Kutxabank S.A. As of June 30, 2014, Kutxabank had assets of EUR 61.588 billion.
Head office address:
Gran Via 30-32
48009 Bilbao (Bizkaia)
Phone: 900 44 55 66
Main shareholdings (2010)
|Society||% bbk||Book value (thousands of euros)|
|Arecibo Servicios y Gestiones||31.3||267,991|
The Most Significant Subsidiaries (2010):
BBK Bank CajaSur, SAU
BBK Bank CajaSur was incorporated in 2010. In January 2011, it received the assets and liabilities transferred from the now defunct CajaSur.
BBK Gestión, SGIIC
This company manages the Group’s investment funds. It currently manages net assets totalling EUR 2.593 billion distributed among 44 funds. BBK Gestión is placed 14th (out of more than 100 companies) in the investment management industry ranking.
GESFINOR engages in business administration and in the provision of administrative and accounting advisory services. It comprises occupational system pension funds such as Hazia, Gauzatu, and Zaintza and individual system pension funds, including Baskepensiones.
BBK Emprestitos S.A.U.
This company engages in the issuance of notes. At 2010 year-end, the face value of the notes issued was EUR 657.41 million.
BBKGE Kredit EFC
The object of this company is the granting of personal loans and consumer finance products, and insurance products linked to credit facilities. Its investments outstanding amounted to EUR 375,086 thousand at 2010 year-end.
Kartera 1, S.l., Kartera 2, Sl. and Kartera 4, S.A.
These three companies engage in the holding and management of assets. They manage various kinds of investments and their total assets amount to EUR 2.99 billion, EUR 81.72 million and EUR 14.12 million, respectively.
Neinor, S.A. and Neinor Group
This is a company that engages in property development and in which the BBK Group centralises its investments and the management thereof in different sectors of the property industry, both industrial and residential. The total assets of the Neinor Group amount to EUR 512.09 million.
Fineco Sociedad de Valores, S.A. and Fineco Group
With assets over EUR 923 million, the company engages in asset advisory and management services. The Fineco Group mainly specialises in private banking for institutions and high-net-worth individual investors.