Global kings continue reign

摘要

Will Spanish banks continue to surprise the world? In the past decade, the bold initiatives and accomplished performance of the country's financial institutions have repeatedly taken markets aback. The surprises began in the 1990s with the sweeping consolidation of the six biggest groups from which Grupo Santander and Banco Bilbao Vizcaya Argentaria (BBVA) have emerged as kings of retail banking. Now, after building profitable empires in Latin America — where they have invested more than $26bn in the past decade — Spain's dominant duo have set out to become audacious conquistadores in two of Europe's most challenging markets.