In 2010, the United States area focused on:
- The consolidation of the BBVA franchise in the country. This has led to increased revenue synergies, more effective and better coordinated management of risks, relations with supervisory bodies and access to financial markets, as well as a notable gain in market share. BBVA is now in 18th place in the United States in terms of volume of customer funds, compared with 24th place a year earlier. These results are explained by the successful integrations of Guaranty, BBVA Bancomer USA and the WB&AM business in the country within BBVA Compass.
- The Transformation Plan for the business to a customer-centric model. A number of initiatives have been undertaken in this respect. First, the sales process has been transformed through the introduction of a new working environment following the implementation of the “Business Scenarios” tool. This provides an integrated view of the customer at the start of each of the business processes and makes the customer relationship easier. This has had a positive impact on commercial productivity. The development and introduction of this tool also ensures progress in the process of aligning the infrastructure of BBVA Compass with the corporate technological platform. Second, a new value-based customer segmentation has been introduced, by which customers are offered different products and services depending on their specific needs, as well as being assigned appropriate managers and/or advisers.
- Improvement in distribution capacity through the implementation of the corporate management and sales model. This has also led to an increase in commercial productivity, thanks to factors such as the greater use of alternative channels to the branch network, such as cell phones and the Internet.
- BBVA’s new brand positioning in the country. A long-term agreement has been signed with the National Basketball
- Association (NBA) to turn the Group into the official bank of the most important basketball league in the world. This strategic alliance represents a gain in global dimension for BBVA, and also responds to its commitment to sport and sporting values. The first advertising campaign in the United States promoting the NBA sponsorship has already been launched, called “Team. Works.” It emphasizes the importance of teamwork in achieving success, and the Bank’s effort to become a team colleague and create winning experiences. Another key component of this association is support for “NBA Cares,” the league’s social responsibility initiative. The aim is to remodel schools in the five markets where BBVA Compass operates.
- Strict monitoring and risk control, which has resulted in selective growth in the loan book towards lower-risk items. The aim of these measures is also to prepare the Bank for the new economic and regulatory environment to be faced by the sector.
The management priorities for 2011 will continue in line with the work begun and developed in 2010, and focus on:
- Making progress in implementing the technological platform. The implementation will be the basis for the new strategic growth plan for the area.
- Developing, attracting and retaining the best talent.
- Continuing to work on the new brand positioning. This will include the development of a new design for the branch network. The various acquisitions in recent years have resulted in a mixture of images in each of the branches forming the United States franchise. It is therefore crucial to continue with the creation of a single branch format to strengthen BBVA’s brand image.
- Implementing a Differentiation Plan that is capable of supplying the products and services required for the needs of the Bank’s different customers through the appropriate channels. And, of course, technology will play an important role in all this.
To sum up, work will continue in 2011 with a customer-centric approach, in line with the Group’s corporate model.