The ECB will keep interest rates unchanged and extend its bond-buying program until the end of 2017, although for a lower amount, starting in April. Draghi did not rule out the possibility of new extensions if conditions are not favorable. The market reacted with significant increases.
Just as the BBVA Group is reinventing itself to offer the best customer experience and customer experience and lead the new financial industry, we at BBVA Paraguay are hard at work to contribute to this transformation process. And we have the best talent in the country to do so.
BBVA Compass repeated its participation in the AFPAware Community Service Day and helped the most disadvantaged. This year, the Community Service Day took place in Orlando and raised 4,500 kilos of food and 2,000 care kits for abuse victims and families in need.
In the last five years, Paraguay’s economy grew at an annual average rate of around 5% – one of the highest in the region. This economic performance is especially remarkable considering it occurred in a rather volatile international environment, characterized by turbulent international financial markets, lower capital inflows to emerging economies and falling prices for metals and agricultural products. The Paraguayan economy was also affected by declining activity of some the region’s most significant trade partners.
Reflecting on BBVA’s long and successful history in Paraguay, Agustín Antón highlights some of Paraguay’s most favorable characteristics, a “country that, grossly overlooked as it may be, is blessed with a number of strengths which translate into great opportunities”, as the basis to continue improving as a universal bank in all its aspects.
Around 300 female managers participated in Encuentro Promociona which was held at Ciudad BBVA. This event, chaired by Her Majesty Queen Letizia, is part of the Promociona Program designed to promote women’s access to senior management positions and boards of directors of companies.
One of the questions hanging over the European economy and more specifically, the financial sector, is if the ECB will maintain its current policy of low, or even negative, interest rates for an extended period of time. Moreover, after the warnings announced last Thursday by the Chair of the Federal Reserve, Janet Yellen, who predicted a hike of the interest rates “relatively soon” if the improvement in the labour market and the inflation continues.
Economists and experts differ over whether this policy is reaching its end, or is here to stay for a while. While the ECB decides if the low rates will remain or start to increase, banks are reflecting on how to face this new environment that is putting their profitability at risk. One key way is through digitization.