The prestigious international magazine Euromoney named BBVA the best investment bank in Spain in 2020. The bank also received the title of the best bank in Latin America and repeated as the best bank for sustainable finance in the region. BBVA was also selected as the best bank in Argentina and Mexico.
BBVA was honored as the best investment bank in Spain at the latest edition of the ‘Euromoney Awards for Excellence 2020'. The magazine recognized BBVA for the wholesale banking capacities and solutions it offers large corporate, institutional and private equity and infrastructure fund clients in Spain. This recognition also values the strategic advice the bank offers mid-sized businesses and corporations through investment banking products that are not part of these clients’ recurrent activity.
Jose García Casteleiro, the Head of BBVA Corporate & Investment Banking in Spain explains: “In 2019, BBVA offered investment banking solutions that made it possible to connect the extreme liquidity of private equity and infrastructure funds (financial sponsors) with corporate clients’ need to optimize their capital. Operations like the sale of Ferrovial’s ‘Autopista del Sol’ and the sale of Telefónica’s data center are good examples. Furthermore, our focus was, and continues to be on offering sustainable finance alternatives to our clients in highly attractive market conditions.”
Best bank in Latin America
BBVA was recognized as the best bank in Latin America due to its ability to integrate digitization in the business across the regions - a fact that has benefited from the brand unification process, which began in 2019. The magazine also underscores the contribution of banks in the region to the Group’s overall results.
BBVA has had a breakthrough year in terms of the region’s importance for the bank, according to Euromoney. Louis Bowman, editor of the magazine, stresses: “Not only is its gross income up to 47.3 percent of the bank’s total, the region generated more than half of its operating income and net attributable profit – statistics that show that not only are the bank’s Latin American operations becoming bigger but it is leveraging the global bank’s profitability. The digital integration of the bank across the region also helped BBVA to rebrand its Latin American businesses last year – a reflection of the greater unity between countries.”
BBVA has made significant progress in its transformation strategy in recent years, which has translated into excellent results in its main metrics. In 2019, the acceleration of this transformation process made it possible to improve sales, as well as customer experience and loyalty. The bank’s commitment to its customers is reflected in its top position in the satisfaction index (‘Net Promoter Score’ or NPS) in all locations. Furthermore, nearly 40 percent of clients in South America regularly used mobile channels to interact with the bank - a figure that rose to 45 percent in Mexico. Digital sales represented 64 percent and 55 percent of total sales, respectively.
The best sustainable finance bank in Latin America
BBVA has revalidated its title of the best sustainable finance bank in Latin America. Euromoney is therefore recognizing the bank’s efforts, which announced its Pledge 2025 in 2018 to mobilize €100 billion to fight climate change and promote sustainable development. By the end of December 2019, the bank had already allocated €30 billion through green, social and sustainable bond issues and placement for its clients; sustainable corporate loans; operations certified by the bank’s sustainable transaction banking framework; financial inclusion projects and the Microfinance Foundation’s valuable activities (FMBBVA). This organization has been recognized by the OECD as the second-largest philanthropic provider for development and received the Corporate Citizen of the Americas Award (CCA) presented by the Organization of American States’ Foundation for the Americas.
Best bank in Mexico
BBVA was also recognized as the best bank in Mexico - not only for its financial results, but for its leadership in the digital transformation. BBVA is the most efficient bank in Mexico’s financial system, with a ratio of 36.3 percent at the end of 2019. This result demonstrates BBVA’s success in its transformation and innovation process, the main goal of which is to increase client satisfaction and advance in digitization.
Advances in transformation are reflected in the number of customers who use digital channels. As of December 2019, the bank had over 10 million digital customers and more than 9.6 million mobile customers, which represent 47 percent and 45 percent of the total customer base, respectively. This is due to its unique value proposition. BBVA was the first bank in Mexico to use artificial intelligence integrated with WhatsApp technology, and in 2019, continued to innovate and incorporate new solutions on its mobile app.
Best bank in Argentina
BBVA was also chosen as the best bank in Argentina in 2020. The bank’s financial results are worthy of mention, with the best evolution in equity, efficiency, asset evolution and default in the Argentine financial system. In addition, the new solutions BBVA has made available to its customers, and particularly, its progress in digital transformation were especially significant over the past year.
The Argentine franchise launched a new model relationship model that allows the bank to offer SMEs specialized service at all branches. It has also continued to work on digital solutions like the development of a new feature that allows commercial clients to cash checks at BBVA Net Cash and BBVA Net Cash Mobile from any location, redeeming 100 percent of them and receiving the money in their account in a fully digital process.