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Financial education 16 Sep 2016

Responsible business: BBVA Bancomer’s social vision

As a result of the integral transformation process kicked off in 2016, BBVA Bancomer established a scheme to implement a strategy based on the new concept of “Responsible Business” as the focal point of its social responsibility actions. The strategy is built on three cornerstones in first place, social actions aimed at fostering education and which are carried out through the BBVA Bancomer Foundation; the second, financial education; and third the promotion of entrepreneurship, primarily with a societal focus.

The new vision of social responsibility pursues clear objectives. For example, the Financial Education Program seeks to educate consistent savers, responsible borrowers and prudent investors. The plan entitled Future Values will consist of actions to train children and young people through 63 workshops, so that, from the earliest stages of their education they can become aware of how important money is, how it permeates all facets of our daily lives and how to use it responsibility, within a value-driven context. Also, program also consists of nine Finance for Life Workshops and three workshops built around contents for the development of Small and Medium-Sized Enterprises (SMEs).

The BBVA Bancomer Financial Education Program has developed a network with over 100 instructors, which teach the workshops in 20 permanent classrooms, 15 classrooms and 15 mobile devices, through internet and following more traditional methods. - BBVA Bancomer

Another key lines of action is the promotion of social entrepreneurship, through the Momentum Project, a global initiative to which Mexico has contributed 30 social entrepreneurs, which have increased their influence through training, mentorship, accompaniment and access to credit in preferential conditions. The scope of the project was expanded in the 2016 edition, and the number of participating companies was increased to 100, where BBVA Bancomer has pledged MXN100 million in loans to these companies.

Being aligned within a Responsible Business strategy leads BBVA Bancomer to have a transparent, clear and responsible communication, in line with the global purpose of the Group which is to “bring the age of opportunity to everyone.”

The strategy is also supported by the more than 38,000 collaborators of the Financial Group, through initiatives such as corporate volunteering and environmental-care actions. Within the headquarters, each one collaborates within the Global Eco-efficiency Plan of the BBVA Group, promoting measures to reduce the use of natural resources, such as paper and water; the adoption of recycling actions, and the promotion of mitigation actions such as reforestation, with the sowing of trees in the 40+ hectare Bancomer Forest, in the middle stretch of the Ajusco volcano, in Mexico City.

The largest financial group in the country is also the pioneer in the design and implementation of actions that leave a positive footprint in the world, and in the economic environment in which they are developed, and competes with other companies that seek to claim a prominent spot in the field of social responsibility. The result is the reflection of the recognition that BBVA Bancomer has earned from the Mexican Philanthropy Center (CEMEFI) for 16 consecutive years, over which it has acknowledged the company’s efforts through the award of the Socially Responsible Business seal. BBVA Bancomer also stands out among other companies in the country because it devotes 1% of its yearly profits after taxes to social initiatives.

For BBVA Bancomer social responsibility is an attitude and is part of the corporate culture. It is part of the fundamentals that inspire the corporate principles and its success lies in the involvement of all layers of the organization, from the managing team to the collaborators, in each one of the cities in which the bank operates. Daily actions must be reinforced to build a responsible business that benefits society, collaborators, partners and shareholders. The generation of economic and social value has a direct impact on the bank’s results and reputation, and that is why it needs to be promoted every day, without dropping our guard.

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