BBVA and Kyndryl renew service agreement with new joint ventures in Spain and Mexico

MADRID, September 30, 2025 - BBVA (NYSE: BBVA), a global financial services group, today announced the renewal of its technology services agreement with Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services, with the creation of two joint ventures in Spain and Mexico. Through this agreement, the bank will improve its customer user experience, invest in talent and support the stability, security, resilience and robustness of its IT operations.

This partnership combines BBVA's experience and expertise with Kyndryl's latest IT innovations and operational practices to strengthen the bank's leadership position in the financial industry.

The main objective of this collaboration is to protect and optimize the management of the bank's mission-critical systems, adhering to high standards of quality, service and security to meet new regulatory requirements and market trends. The partnership also incorporates artificial intelligence capabilities to support functions, such as optimizing operations and anticipating incidents.

This technology partnership will not only help BBVA to focus on improving the user experience and offering its customers a continuous, reliable and protected service, but also to support the stability and robustness of IT operations. This collaboration model positions BBVA to lead, drive and accelerate the transformation of the financial sector, utilizing the latest technologies and operational practices to stay at the forefront.

"This agreement is a clear example of how we understand partnerships at BBVA: relationships that go far beyond the classic supplier-customer model. Kyndryl becomes a strategic partner that will help strengthen our ability to operate with the highest levels of resilience, flexibility and efficiency in an environment where market, technology and regulatory trends are evolving at breakneck speed," said Carlos Casas, Global Director of Engineering (CIO), BBVA.

"We are very proud that an institution of BBVA's international stature has placed its trust in Kyndryl and its technology consulting services, Kyndryl Consult, to work side by side with its team to support the ongoing systems transformation," said David Soto, Kyndryl President, Spain and Portugal. "We are committed to the bank's innovation and the expansion of its ecosystem with Kyndryl to create even more value for its customers."