22 September 2025
Bilbao Campus
Under the title “Corporate Financing in the New Economy: Challenges and Opportunities”, the Icaza Auditorium (La Comercial Building, University of Deusto) hosted the 12th Deusto Business School–Deusto Business Alumni Financial Conference on Monday, 22 September. Organised in collaboration with Kutxabank Investment and Bilbao Plaza Financiera, this year’s conference focused on analysing the new corporate financing strategies in the current context of economic and digital transformation.
The welcome was given by Antón Azlor, President of Deusto Business Alumni, who emphasised the importance of creativity in finding financing solutions: "The economy has always needed imagination to secure funding. Today, the new economy offers huge opportunities, but also requires solutions that go beyond traditional banking.” During the institutional opening, Anton Arriola, President of Kutxabank, highlighted the importance of consolidating a solid and agile financial system that supports business growth. Kutxabank launched a €500 million fund last March.
The event was opened by José Ignacio Goirigolzarri, Chair of the Deusto Business School Board, who took part in a panel titled “Economic Challenges in an Environment of Uncertainty”, moderated by Mikel Larreina, Vice-Dean for International and Institutional Relations at Deusto Business School. Goirigolzarri noted that the expected GDP growth for the Basque Country this year, and likely next year, will be “slightly below the Spanish average”, due to the weight of the industrial sector. "This industrial component is a competitive advantage in the long term, but in the current European climate it is creating pressure points," he said.
The banker drew attention to the relative evolution of the economic weight of the Basque Country within Spain. In recent decades, the Basque Country’s GDP as a proportion of Spain’s has fallen from 7.8% to 5.9%, and in the past five years private employment has grown by only 1.8%,” he pointed out. In his view, this “shrinkage” should be a cause for concern for both institutions and the business sector. One of the determining factors is demography. "The Basque population has only grown by 5% in the last 20 years, and this has direct consequences on the capacity for economic growth," he said.
He also admitted being surprised by the strike and absenteeism statistics in the region, which, in his view, pose additional challenges for competitiveness. In response to this, he insisted on the need to "relaunch the figure of the entrepreneur" as a driving force for development and a generator of employment. He concluded by stressing that the Basque Country maintains a "very good starting position", but warned that in order to secure its future, it will be necessary to decisively tackle the structural challenges that threaten to limit its weight in the Spanish economy.
Financing options
Next, a roundtable was held where representatives from leading institutions discussed the financing options available to support business growth. The discussion covered best practices, as well as the main challenges and opportunities in accessing finance in the current economic environment.
This debate, moderated by Manuel Martín-Muñío, Managing Director of Kutxabank Investment, featured Ignacio Faus, Partner and CFO/COO at Permira; Amaya del Villar, Director General of the Basque Institute of Finance; Ana Beobide, Board Member of the Bilbao Stock Exchange; Amaia Arrizabalaga, Investment and Portfolio Analyst at Seed Capital Bizkaia; and José Iturriaga, Managing Director of Indar Kartera.
Among the conclusions, the importance of patient capital to support long-term projects was highlighted, along with public-private collaboration to strengthen the business fabric and the diversification of instruments beyond traditional banking, such as debt funds, venture capital, or asset tokenisation, which opens up new opportunities to democratise investment.
The impact of digitalisation and fintech also featured prominently in the debate. Speakers agreed that technology is transforming the way companies access finance, while calling for investment in training and attracting talent to meet the challenges of a constantly evolving market.
The meeting was brought to a close by Noël d'Anjou Olaizola, the Basque Government's Minister of Finance and Treasury, who reaffirmed the institutional commitment to boosting business financing: "We are at a crucial moment where collaboration and innovation are essential to maintaining our competitiveness in the global market. Only through companies committed to their region can we consolidate a robust economy ready to face future challenges.”
