Although Banco Bilbao Vizcaya Argentaria, S.A. has its roots in Spain, only about one-quarter of its profits are generated in its home market. On a normalized basis, BBVA’s leading franchise in Mexico is expected to deliver roughly half of total earnings, while its business in Turkey should contribute around 15%. The remainder of BBVA’s earnings comes from smaller operations across South America. BBVA is primarily a retail and commercial bank, with corporate and investment banking representing a relatively small share of the business. Through its banking networks, the group also distributes insurance and investment products.