-BBVA wants unify your brand globally, a decision that would disappear all the local brands of the entity, which nevertheless, will study to apply this measure country by country.
One of the first countries in which BBVA has already applied this change has been Argentina as has been advanced on Thursday El País, where BBVA Francés has announced that "as a result of the decision of the holding company", "a process of transition to the BBVA global brand has begun".
This implies, the entity has added in the document sent to the Argentine Stock Exchange, «that all the assets identified with local brands will be denominated with the unique brand BBVA ». BBVA has taken this decision after both the group and its subsidiaries have produced reports "from which arise various foundations that expose the convenience of migrating to a global brand", including digital transformation.
In this sense, from the French Bank have explained in a statement that in this context of digital transformation that the entity carries out, a global brand is considered a factor "must" to achieve a rapid evolution in terms of digital financial services. This translates into cost efficiency, favors synergies, expansion into new markets and sectors, and increases brand value.
"A very strong and progressive brand image It is crucial to take advantage of the opportunities in the world of digital financial services, "said the entity, which will now be renamed BBVA Argentina.
The BBVA group did not want to comment on this decision. Market sources consulted by Efe have explained that in some cases,This measure can be difficult to implement, as in Mexico or Turkey, where the BBVA Bancomer and Garanti brands are deeply rooted, so the entity will study it country by country