BBVA Bancomer continues to support growth in Mexico
BBVA Bancomer's outstanding loan portfolio is growing at a rate of 13%, meaning that the financial institution is continuing its support and cover of the credit needs of corporate banking, retail banking, and SMEs and consumer finance, thus underpinning economic growth.
This is what Eduardo Osuna Osuna, Deputy Chairman and CEO of BBVA Bancomer explained at the National Meeting of BBVA Bancomer executives organized by the biggest financial institution in the country every year. He also commented that there are still opportunities for lending growth due to growth factors such as real growth in formal employment, the increase in remittances and the boost recorded in private consumption.
Osuna reported that until the first quarter of 2016 the small company portfolio grew by 21% in annual terms; the corporate portfolio by 14%; finance for SMEs by 27%; and consumer finance by 24%.
Eduardo Osuna Osuna, Deputy Chairman and CEO of BBVA Bancomer
Present at the inauguration of the meeting were Chairman and CEO of the BBVA Group, Francisco González; and the Chairman of the Board of Directors of the BBVA Bancomer Financial Group, Luis Robles Miaja, who welcomed those attending and set out the scope and goals of the meeting.
Osuna explained that bank deposits in BBVA Bancomer are growing at a rate of 16%, highlighting that demand deposits are growing by 18% and time deposits by 10%, according to figures through March this year.
The goal is to become a simple, agile, transparent bank with a culture of service
The positive results on the financial balance sheet were leveraged by an ambitious Investment Plan of US$ 3,500 million announced in 2013, of which US$ 2,561 million have already been executed (73% of the total) on the following items: new headquarters, US$ 970 million; technology, US$ 618 million; and branches, US$ 973 million.
The Deputy Chairman and CEO of BBVA Bancomer noted that "we are also committed to digital development that can offer better customer service, developing a new banking model" that can offer new products with a customer-centric design, data-based intelligence, with easily accessed mobile teams; and a fair and transparent offer integrated into a digital ecosystem.
The goal, according to Osuna, is to become a simple, agile, transparent bank with a culture of service, supported by digital records and reduced transaction times, booting pre-approved loans and post-sale services. The overall goal is to provide customers with a unique experience of transparency, clarity and accountability.