Santander, BBVA expand U.S. corporate banking push as loan growth accelerates
Spanish lenders are drawing more attention to their U.S. corporate and investment banking operations as they deepen efforts to win business in a competitive market. The expansion is surfacing more prominently in earnings discussions as investors examine growth rates and potential exposure to AI-related financing demand.
Highlights
- BBVA's U.S. corporate and investment bank loans jumped 78% in Q3 to nearly 40 billion euros ($44.6 billion).
- Santander reported a 38% increase in its U.S. corporate and investment banking loans, reaching 46 billion euros.
- Analysts are increasingly scrutinizing both banks' exposure to financing AI and data center infrastructure amid concerns about AI capital requirements.
U.S. corporate lending growth gains focus
As reported by Bloomberg, Banco Santander SA and BBVA SA are stepping up efforts to grow their corporate and investment banking franchises in the U.S., an area that previously attracted relatively limited attention from analysts.At BBVA, loans in its U.S. corporate and investment bank rise 78% in the third quarter to nearly 40 billion euros, equivalent to about $44.6 billion. Santander reports a 38% increase, taking the total to 46 billion euros.
AI financing exposure draws investor questions
Analyst interest is also centering on how that growth connects to financing for data centers and artificial intelligence infrastructure. The issue is gaining prominence as concerns build over the scale of capital required to fund the broader AI build-out.The sharper focus suggests U.S. corporate and investment banking is becoming a more material part of the discussion around both banks' growth strategy, risk exposure and earnings outlook.
Our earlier coverage of the surge in U.S. AI data center development highlighted how the build-out is running into tougher financing conditions, construction delays, and power constraints. We noted that only a minority of planned projects were seen as truly credible, while cost overruns and weakening investor confidence were raising doubts about whether developers can deliver capacity on time and within budget.
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