How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience? 

We typically prioritise crisis preparedness by developing and regularly updating crisis management plans to ensure a prompt and coordinated response from a dedicated team, as the legal department not only helps in mitigating risks, but also actively contributes to the organisation’s resilience and success. Regulatory vigilance is crucial; staying updated on legal changes helps maintain compliance and mitigate risks. Effective communication with internal departments and external stakeholders is also essential for transparency and trust. 

What are the main cases or transactions that you have been involved in recently?
2024 was another year of strong growth for BBVA in Italy. CIB business volumes are increasing, digital banking is growing faster than expected and the bank has started to offer mortgages to its retail customers.  In April 2024, the bank also launched commercial banking activities in Italy, opening a desk dedicated to financings to small and medium-sized companies.  

The legal team was actively involved in providing advice and ensuring smooth implementation of the new business lines, supporting the bank’s expansion and innovation efforts. 

What do you see as the major legal challenges for businesses in Italy over the next five years, and how are you preparing to address them? 

Over the next five years, businesses in Italy will face significant legal challenges primarily due to the evolving regulatory landscape. Key areas of concern include data privacy, cybersecurity, and fintech regulations. To effectively address these challenges, our team is committed to closely monitoring legislative developments at both the national and EU levels. We are at the same proactively enhancing our compliance frameworks to ensure they are robust and adaptive to new regulations. 

A heightened focus on environmental, social, and governance (ESG) criteria presents another significant challenge for businesses. Companies must adhere to stringent ESG standards, encompassing environmental sustainability, social responsibility, and ethical governance. To address this, we integrate ESG considerations into our legal strategies by advising on sustainable practices, ensuring operations and investments align with environmental goals, and promoting diversity, equity, and inclusion within the organisation. We also focus on transparent and accurate ESG disclosures, which involves comprehensive reporting on our environmental impact, social initiatives, and governance structures. This transparency not only meets regulatory requirements but also builds trust with stakeholders and positions the bank as a responsible and forward-thinking institution.  

Lastly, economic uncertainties and potential financial instability present additional risks. To mitigate these risks, we are strengthening our contractual safeguards and providing strategic advice on financial resilience measures. This approach ensures that our agreements are robust against economic fluctuations and that our clients are well-prepared to navigate financial challenges.