Global Finance magazine has chosen BBVA as the best private bank in Latin America in its “World’s Best Private Banks 2018” awards. Among its attributes, the magazine said, are the Group’s “high technology credentials”.
Global Finance pointed out that even though BBVA does not have the biggest private bank in Latin America, it has made inroads, and built a very strong franchise in the region. Among other things, it highlighted the strength of the Mexican subsidiary, BBVA Bancomer, and the Group's optimum positioning in a ‘resurgent’ Argentina.
“Perhaps BBVA’s secret weapon is its broad banking network in the Sunbelt of the United States—through its subsidiary BBVA Compass—that is increasingly gaining traction in Latin America”, the magazine said. “More than a few families with large assets have a presence on both sides of the border”.
In selecting BBVA as the best private bank in Latin America, Global Finance also took into account the “high technology credentials” that the group has shown this year. It’s also noteworthy that BBVA’s cell phone app was chosen as the best in the world by the US consultant Forrester. “That surely will attract new high-asset customers as the Latin American economy recovers”, he added.
This year, The Banker magazine of the Financial Times Group recognized BBVA Spain as the best private bank in the world, in terms of digital communication, and BBVA Bancomer as the best private bank in Mexico. In addition, World Finance magazine chose BBVA Continental as the best private bank in Peru.