BBVA is the best bank in Latin America in 2019, according to Global Finance
Global Finance magazine named BBVA the best bank in Latin America, and the best bank in Peru in 2019. According to the publication, over the past year BBVA has stood out for numerous factors, including its customer service, risk management, the range of products and services it offers and the intelligent use of technology.
At its 26th edition, Global Finance’s Best Bank Awards indicated that the best banks are those that carefully meet their customers’ needs in difficult market conditions and achieve the best results while laying the foundation for future success. The selection process took into account the opinions of industry analysts, sector executives and technology experts who evaluated the banks for topics related to financial soundness and security, strategic relations and corporate governance, price policy, capital investment, innovation in products and services and adequate attention to customer needs.
Antonio Bravo, Director of Business Development and Digital Banking at BBVA for South America, noted that this award is a recognition of the BBVA team’s hard work across Latin America to improve customer experience and make the opportunities of this new era available to them.
“I would like to call attention in particular to BBVA’s leadership in the region in the digitization of products and services that make our customers’ lives easier. Thank to this, we are starting to be able to increase contact points with our customers and strengthen our relationship with them,” added the director.
BBVA has been a pioneer in Latin America, with diverse innovations that have translated into a better customer experience and higher digital sales.
“I would like to call attention in particular to BBVA’s leadership in the region in the digitization of products and services"
A solid business based on technology
Over the past twelve months, BBVA has demonstrated the soundness of its business strategy in Latin America. It has set the standard for innovation in the different countries of the region, offering increasingly agile and simple products and services thanks to the use of technology.
BBVA’s business in Latin America has performed well, with significant progress in all countries. South America registered a yoy increase of 9.7 percent in credit investment and an 11.8 percent increase in assets. Meanwhile in Mexico, credit investment rose 7.4 percent year-over-year and assets climbed 3.6 percent.
In terms of digital transformation, BBVA has been a pioneer in the region with different innovations that have translated into a better customer experience and an increase in digital sales. In fact, by the end of 2018, BBVA sales on digital channels reached 54% of total sales in South America, and more than tripled over the past two years in Mexico, currently comprising 37 percent of the total.
BBVA, the best bank in Peru
Global Finance selected BBVA Continental as the best bank in Peru - an award the bank has taken as an incentive to continue offering Peruvian customers the best experience in the country’s financial system.
“This recognition makes us feel very proud and committed, and it comes at a time when we are immersed in a very profound transformation process, the goal of which is to continue assisting our customers in the best possible way,” said BBVA Continental CEO Eduardo Torres-Llosa.
The bank currently remains focused on strengthening its digital capacities, integrating its platforms (mobile banking is the equivalent of half of the network of branches), bolstering digital sales (which now represent around 44 percent of total retail sales), and developing new analytical capacities with an emphasis on big data and machine learning.