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BBVA Paraguay

BBVA Paraguay

BBVA continued leading the way to innovation in Latin America during 2017, becoming the region’s digital bank par excellence. That distinction was confirmed by Global Finance magazine, which judged BBVA’s mobile banking app to be the best in Latin America. BBVA’s local franchises in the region have set the pace in the development of products and services which, just as in the case of mobile banking, aim to make their customers’ lives easier and deliver on the Group’s intent to bring the age of opportunity to everyone.

Creating Opportunities is the BBVA Group’s new tagline. After a decade, ‘Adelante’ is giving way to a new tagline that fits with the bank’s new purpose: To bring the age of opportunity to everyone. In this interview, Carlos Ricardo, the BBVA Group’s Marketing Director and Brand Director Carlos Pérez Beruete explain the process that led to the new tagline. It will also be accompanied by a new image, identity, sound and value proposition. “2017 will be the year that consumers clearly see how the bank has been transforming in recent years,” they say.

The day after Thanksgiving, or the last Friday of November, is celebrated nearly all over the world as Black Friday, the day that marks the first day of Christmas shopping. Over the years, with the arrival of new technologies, sales have been extended to Monday, known as Cyber Monday when discounts are offered for online shoppers.

Slow recovery of commodity prices and weak economic activity have affected tax revenue. This has lead to adjustments in government spending in many Latin American economies. Therefore, despite some recovery in commodity prices over recent months, BBVA Research has lowered its growth outlook for the region to an expected contraction of -1.1% in 2016. In its Latin America Economic Outlook report on the second quarter, BBVA Research affirms that it does expect to see 1.7% growth in 2017.

Brazil's economic recession may end up affecting all other Latin American countries, especially its closest neighbors: Argentina, Uruguay and Paraguay. The negative effects of this situation will be mostly felt on trade but they will also impact tourism, foreign direct investment (FDI), and fund flows, among others. However, according to BBVA Research, the general effect of Brazil's negative circumstances is not strong enough to bring a crisis situation to other countries in the region.

Economic recovery, balancing national budgets and controlling inflation are just some of the challenges facing Latin American countries in the coming year. After a less than dynamic 2015, it is hoped that 2016 will see a return to economic growth, though this is one objective which will not be easy to achieve.