The 1950s in Paraguay was a decade of new ideas, projects and reforms. As a result, in 1959, the government decided to obtain lines of credit from the Spanish government to finance public works.
As the business relationship gained ground, the Banco Exterior de España made the decision to put a branch in Paraguay on July 18, 1961.
The growing exchange between Paraguayan and the Spanish governments led the Banco Exterior de España’s branch to incorporate capital from Paraguay, and become a Paraguayan limited liability company, adding local talent and a Paraguayan touch to the team.
From the 1970s onwards, Banco Exterior de España S.A changed as a result of mergers in Spain which led to today’s Banco Bilbao Vizcaya Argentaria.
This led to the birth of BBVA Paraguay, a bank with a 55 year uninterrumpted history in the country, making it one of the oldest in the Group.
Since its arrival in Paraguay in 1961, BBVA observed the strength of the country, full of opportunities, with hard-working people and all the right ingredients for a growing economy. That’s why the bank has continued to grow since it opened its doors in the country, and is now part of its culture and essence. Today it is a multinational bank with a local heart.
BBVA Paraguay, in Asuncion.
A budding future
With a robust foundation, BBVA Paraguay continues to build its path to the future through a long-term strategic plan based on six pillars that are incorporated in all of the bank’s products and services globally.
In this context, the bank is utilizing all its corporate banking experience to implement processes, create synergies and leverage growth in retail banking – a division that currently represents 20% of the bank’s gross income even though it represents only 11% of the bank’s activity.
Thanks to this expertise developed over five decades, the bank offers financial advising and a specialized value proposition for SME – the driver of today’s economy, creating more than 80% of the country’s jobs. All while continuing to support productive sectors like agriculture, positioning Paraguay as one of the most significant producers in the region.
Customer experience is our driving force
For BBVA Paraguay, being at the cutting-edge means putting customers at the heart of everything, and we place special importance on the quality of their experience. This is reflected in the Net Promoter Score, known as NPS, which measures customer recommendations. In recent years, we have been in the top positions month after month and we are committed to continue working to provide the best customer experience.
Although the most important accolades come from customers, BBVA Paraguay has also received awards that inspire us to continue growing. Our headquarters receiving silver in the LEED certification for its environmental management is one example. So is the distinction of being awarded ‘The best private bank in the country’, being included in ‘One of the 10 best places to work’, and without a doubt, being named ‘Dream company of Paraguayan youth’. These and other awards are a reflection of our hard work and deepen our commitment to the country.
Building on its long tradition, BBVA Paraguay has become a cutting-edge bank that inspires to bring the age of opportunity to everyone and help customers make their dreams come true.
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