BBVA is breaking out of its banking mold in Turkey, selling used cars and renting iPhones through Garanti. The bank is testing these new business lines before deciding if Spain will get them too.
BBVA is moving past traditional banking in Turkey. Through its subsidiary Garanti, the bank now sells used cars and rents out iPhones. This is a clear push to find new ways to make money and see how consumers respond. Turkey has already been BBVA’s main test market for digital ideas.
Garanti, BBVA’s Turkish branch, lets customers buy second-hand cars right from its app and website. The service started for small businesses and individuals. Now, all private clients can use it, and Garanti plans to open it up to more companies soon. For people who want the latest tech but don’t want to own it, Garanti BBVA has launched an iPhone rental. Customers can lease new Apple phones for 12 or 24 months and pay a monthly fee. When the contract ends, they return the phone and can upgrade to a newer model. This is a true rental, not a financing plan. The phones come with insurance.
In September 2026, Garanti BBVA sold a portfolio of non-performing loans in Turkey valued at around 3 trillion Turkish lira, with the deal closing at approximately 449 million lira after discount.
Turkey is BBVA’s innovation lab. In 2023, Garanti was the first in the group to offer bitcoin and ether custody and transfer. Later, it added more digital currencies. Only after this Turkish pilot did BBVA bring crypto services to Spain in 2025. The pattern is set: Garanti tests new business lines first. BBVA has not said if it will bring these latest services to Spain.
BBVA is not the only bank trying this. In Spain, Santander has used tech rentals—like iPhones and MacBooks—to build closer ties with customers, often linking rentals to other banking products. CaixaBank has also moved beyond loans and mortgages. It now runs platforms to sell homes, cars, and tech, and offers tech rentals through CaixaBank Payments & Consumer. Banks are looking for new ways to keep clients and earn money outside of classic banking.
For Spanish readers, banks moving into mobility and tech is not a surprise. As reported earlier, the car industry is changing fast. New models and services are aimed at city drivers and are changing how people get cars.
According to recent corporate and investor communications, Garanti BBVA continues to be a highly active player in Turkey’s financial sector, with ongoing regulatory and antitrust proceedings highlighting the dynamic environment in which the bank operates. The group’s Turkish subsidiary is frequently cited in industry reports as a testing ground for BBVA’s new digital products and risk management strategies.
BBVA’s choice to test these services in Turkey, not Spain, says a lot. The Turkish market is open to digital change, and Garanti already has strong digital systems. This makes Turkey a good place to try new ideas. If these projects work, Spanish customers might see them later. For now, BBVA is watching the results before making any promises.
This careful move beyond banking is part of a bigger trend among big banks. But BBVA’s slow, test-first style stands out. By using Garanti as a sandbox, the bank keeps risk low and can move fast if a new business line takes off. For now, BBVA is ready to push the limits of what a bank can do—but only if the numbers and customer feedback make it worth the risk.
