- standards of transparency and accountability. Xabier tells us, “Our strategic plans revolve around sustainable competitiveness. Our most recent campaigns raise social awareness about caring for the planet and considering the future of upcoming generations. At BBK, we are committed to a model that puts an end to ‘short-termism’. We want to involve everyone: businesses, institutions, entities, and citizens. The model embraces fair competitiveness, and promotes technology and talent, whilst respecting social, environmental, and governance criteria. It’s crucial to reflect on the consequences of every decision we make.” BBK’s model has arisen from the need to prioritise the welfare of the region and its people over purely economic interests. It is based on holistic, consistent decisionmaking which considers all aspects of life in Bizkaia and the roles of its inhabitants. Xabier says, “Our vision focuses on values, ethics, and humanism, moving away from competitiveness based only on price. We differentiate ourselves through innovation, quality, and excellence. We encourage the development of talent and creativity by contributing to the generation of quality jobs. This approach ensures environmental respect and preservation, equal opportunities, and social integration for all.” In recent years, BBK has undergone significant evolution. And, as a result of its strategic decision making BBK has seen many successes emerge. We ask Xabier to elaborate. He explains, “In 2021, we decided not to go public. This proved to be very wise. A study from the University of Deusto subsequently showed that we avoided the loss of over 2 billion euros as a result. This decision permitted us to remain the majority shareholder of Kutxabank. This enabled us to maintain and modernise social initiatives which are essential to the success of Bizkaia.” Also initiated in 2021 was BBK’s Kuna project. The project centres around applied research for social transformation on an international, national and regional scale. By creating a space for citizens, universities, research centres, public administration and private companies to come together, Kuna enables Sustainable Development Goals (SDG) and future challenges to be addressed. And, in March 2023, BBK achieved its own goal of attaining the minimum target volume for the Reserve Fund required by law. In doing so, the foundation assures its control of Kutxabank. BBK employs 6,000 people in the Basque Country (Euskadi). So what does the future hold for BBK? Xabier says, “Despite everything we’ve been through until now, we’ve managed to carry out our mission for the benefit of the people of Bizkaia. In the future, we’ll focus all our efforts on protecting and growing these social initiatives. This is a long-term project. We may have reached some milestones, but our goal is to make BBK bigger, better, and stronger to drive those social initiatives forward.”
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