Euromoney, one of the world’s leading financial publications, chose BBVA as “Best Bank in Latin America” during its presentation of the Euromoney Awards for Excellence 2012. These awards are some of the most coveted titles in the financial world. The prize recognizes BBVA’s leadership in innovation and efficiency as well as its solvency and profitability in various countries of this region. BBVA was also chosen as “Best Bank in Venezuela”. The awards were collected by Eduardo Fuentes, Global Head of Insurance and Pensions America; and Philippe Paddack, COO CIB Europe.
- BBVA Provincial was also chosen as best bank in Venezuela for the sixth year running
- Vicente Rodero, head of BBVA South America, said the awards reflect BBVA’s focus on customers and the Group’s desire to offer them products and services that are increasingly easy to understand.
According to Euromoney BBVA was distinguished by its good earnings and increased lending: two factors that helped it expand its market share significantly in the region. The magazine also highlighted the sustained asset quality of its portfolios thanks to a prudent risk management.
Euromoney said, “Traditional banking services in the entire region are growing significantly and because of its outstanding performance BBVA is the top bank in the region this year. Its acquisition of Crédit Uruguay Banco (later merged with BBVA Uruguay) and its 24.5% stake in the Forum finance company in Chile, together with organic growth that boosted gross income 31.2%, make BBVA the winner in this category.”
Furthermore Euromoney drew attention to BBVA’s strategy, which focuses on closer contact and knowledge of its customers, through a comprehensive management and multi-channel distribution model based on intensive use of technology.
Every year the magazine’s editors conduct an exhaustive selection around the world to identify the banks that stand apart from their competitors, using criteria that consider excellence, innovation and solvency.
Vicente Rodero, head of BBVA South America, said the awards reflect BBVA’s focus on customers and its desire to offer them products and services that are increasingly straightforward, targeting each business segment in a specific manner.
Mr. Rodero also drew attention to the enormous efforts made by BBVA’s franchises in Mexico and South America to improve procedures and channels. These resulted in better service and greater customer satisfaction.
Euromoney also chose BBVA Provincial as the best bank in Venezuela for the sixth year running and said it was one of the most profitable banks in that country. The magazine referred to the bank’s solid earnings despite a scenario complicated by elections and drew attention to the 47.5% rise in total income and the 84.8% jump in net income in 2011.
The prizes were presented today in London at a ceremony attended by important leaders from the international financial world.