Spain's second-largest bank, BBVA, plans to launch a brokerage business in Japan as part of its global expansion, marking the first such venture by a Spanish firm in the Asian market. The Bilbao-based lender aims to establish a local securities subsidiary by year-end, pending approval from Japan's Financial Services Agency.
BBVA, Spain's second-largest bank headquartered in Bilbao, is pursuing entry into Japan's brokerage sector as part of its broader global expansion strategy. According to individuals familiar with the matter, the lender intends to set up a local securities subsidiary in Japan by the end of the year, subject to regulatory approval from the Financial Services Agency. This would position BBVA as the first Spanish company to operate a brokerage house in the Japanese economy.
The initiative aligns with efforts by BBVA and its larger Spanish competitor, Banco Santander, to bolster investment banking operations. These moves aim to diversify beyond retail-focused models. BBVA's Corporate and Investment Banking unit achieved a record €6.6 billion ($7.8 billion) in revenue last year and targets doubling that figure from 2024 levels by 2029.
By establishing a presence in Japan, BBVA seeks to tap into the Asian market's opportunities, enhancing its international footprint in securities services.
