South America
South America
Management priorities in 2009
- Successful management of customer spreads.
- Favorable effect of the policy of austerity measures to curb expenses in all units.
- Excellent results in banks, pensions and insurance.
- Maintenance of the NPA at very low levels, with a high coverage ratio.
Customer base
- In 2009, the South America area has increased its customer base thanks to the banking penetration strategy initiated in 2007. This plan has concentrated on building loyalty with paycheck customers.
- The area has also worked on a model of relationship that is based on offering an accessible and differential service that adapts to the needs and preferences of every segment. This has required increased knowledge of and familiarity with the market, its trends and consumer behavior in each country where the Group operates.
BBVA, best bank in Latin America according to Euromoney magazine
Euromoney magazine annually grants one of the most prestigious awards in the financial industry, and in 2009, it honored BBVA with the title of Best Bank in Latin America. The award was granted in recognition of BBVA’s leadership in the region and the outstanding results it achieved despite the complicated backdrop created by the international crisis. In addition, BBVA was also named Best Bank in Mexico, Argentina, Venezuela and Paraguay.
According to the publisher, BBVA has shown great strength in Latin America in terms of income. Euromoney also highlighted announcements made by Vicente Rodero, General Manager of BBVA South America, regarding acting with prudence and assessing risks in today’s international crisis situation, while also maintaining the firm commitment to continue increasing market share in the different countries where BBVA operates.
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