05 May 2025
Bilbao Campus
Deusto Business Alumni, in collaboration with PwC, held a meeting on 5 May with Antón Arriola, president of Kutxabank, titled Plan Benetan 2025-2027: Client, Digital Transformation, and People. In the talk, he discussed this 'ambitious and transformative' process that the organisation will roll out over the next three years.
After the welcome remarks by Antón Azlor, President of Deusto Business Alumni, Asier Atutxa, PwC partner responsible for the Basque Country, provided an overview of the current economic situation, focusing both on the Basque economy and the main global trends. To this end, he presented a monthly economic report with special focus on the local context, highlighting some key data and notable developments.
Among these, he highlighted the increase in Chinese financing for strategic metals, a sign of the global adjustments linked to the energy and technological transition. He also warned about the possible recession in Mexico, reflecting how some emerging economies are beginning to show signs of slowdown in an uncertain international environment.
Atutxa also emphasised two key challenges for business development: the rapid pace of digitalisation affecting all sectors and the increasing difficulty in attracting and retaining talent, which has become a strategic factor for competitiveness.
Five revolutions and the role of banking
Antón Arriola opened his talk by highlighting that we live in an era marked by five major revolutions: the technological revolution, driven by artificial intelligence; the geopolitical revolution, with rising tensions and a rollback of globalisation; the demographic revolution, characterised by a decline in the working-age population; the energy revolution, linked to the green transition and dependence on Russian gas; and a regulatory revolution that is beginning to focus on simplifying regulations.
In this context, he argued that markets remain the best defence for the global economy and that banks must adapt with agility and vision. In the case of Kutxabank, he highlighted that the years 2023 and 2024, marked by a sharp rise in interest rates, have been used to strengthen investment in talent and digitalisation, with a firm commitment to growth.
This strategy is based on diversification, strengthening capabilities, and brand unification. One of its pillars is the Plan Benetan, through which Kutxabank aims to lead in digitalisation, efficiency, product range, customer service, and social commitment. The goal: to be a benchmark not only in the Basque Country but also in key regions such as Córdoba.
Growth, impact, and pride of belonging
Arriola outlined some of the group’s measurable goals for the coming years: to add 100,000 new customers, grow by 30% within three years, and reach €50 billion in assets under management. He also highlighted the human element: "We want people to be proud to work at Kutxabank," he said, referring to initiatives in training, communication, and corporate culture.
On the financial front, the group aims to reach €150 billion in business volume, over €510 million in net profit, and a diversified loan portfolio reaching 39% by 2027. In this regard, he highlighted the creation of a key instrument for the Basque industrial fabric: a €500 million investment to boost leading companies and strategic projects through platforms such as the public fund Finkatuz and private initiatives like Artizarra.
Additionally, he announced the launch of Indar, a new investment portfolio endowed with another €500 million, designed as a key tool to drive significant operations in the Basque Country. “Indar represents a significant shift in our investment landscape”, he explained, highlighting that it will enable transactions of up to 100 million euros — a range that has so far lacked sufficient coverage in the Basque financial ecosystem.
Currently, a dozen transactions are under review, focusing both on direct investments in key driving companies and on projects coordinated with the Basque Government, family offices, and platforms such as the Artizarra Foundation. The objective is to build a solid and attractive investment portfolio that, if it develops positively, could even lead to a future initial public offering (IPO).
Final debate and looking ahead
The event concluded with a debate moderated by Almudena Eizaguirre, Director General of Deusto Business School Executive Education, covering both the macroeconomic situation and the bank’s strategic priorities, as well as its vision for the future of the Basque Country.
Regarding the current context, Arriola acknowledged the ongoing uncertainty and some slowdown in business investment but remained cautiously optimistic: "There are also green shoots. Growth continues and and we trust that this global uncertainty will stabilise and that the horrific wars we are witnessing will come to an end.”
Asked about the role of the Basque Country in Europe’s reindustrialisation process, he expressed optimism: "We have very important companies that we need to know how to leverage. Europe is going to undergo many changes, and the Basque Country must be well positioned". He also highlighted the positive reception that Indar has received: "Operations are already under way. The response has been very significant.”
Finally, he wanted to send a message of confidence in the potential of the Basque business fabric: "I’m very optimistic. The level of our companies is extremely high. There are significant challenges, such as demographic ones, but the essential thing is to generate economic growth on all fronts.
Regarding talent attraction, Arriola stated that Kutxabank aims to “attract with inspiring projects”. He acknowledged that many young people leave for Madrid after completing their studies, but stressed the need to strengthen an attractive local ecosystem: “Creating a strong economy and good projects is the key." Regarding the use of emerging technologies such as generative artificial intelligence, he admitted that they are currently in a phase of observation and adaptation: "We are struggling to find the right profiles, but we’re making gradual progress. Our approach is cautious: we expect the technology to settle before integrating it effectively.”
