BBVA, named best bank in Latin America by Euromoney

Euromoney sees BBVA’s Latin American business progress as a crucial factor, as this is the most dynamic area for the Group in terms of activity, with substantial growth in both resources and investment. The British publication specifically stresses out the progress made by the bank in its transformation toward digital banking, through an ambitious investment plan in digital channels and technology.

The magazine’s award is a recognition to BBVA’s performance in one of its key markets. BBVA Group has received this award for the fourth time in a row. Euromoney has also distinguished BBVA Continental as the best bank in Peru and BBVA Paraguay as the country’s best banking institution in both cases for the sixth time running.

BBVA Country Networks director Vicente Rodero stated that with this award Euromoney recognizes the efforts of a motivated team, highly committed to the achievement of its goals.  “BBVA has earned the best customer satisfaction indexes in most countries, and has made significant progress to become the digital bank of the region, thanks to its permanent innovation,” he added.

BBVA has a solid commitment in Latin America, where it plans to double its digital customer base to six million customers by 2016. In 2013 BBVA unveiled its strategic plan for South America, which envisaged US2.5 billion in investments during the 2013-2016 period, to become the region’s top digital bank and the most preferred by customers.

The Best in Peru and Paraguay

Euromoney also recognized BBVA Continental’s leadership in the Peruvian financial market, and underscored the strength of its brand, as well as its solid reputation, efficiency, innovation and profitability. The magazine also factored in the management model developed by the bank, especially regarding customer satisfaction and profitable growth, through a varied product and service offering, in line with its leading position in customer service among Peru’s four largest banks.

BBVA Paraguay managed to stand out from its competitors based on the progress of its asset quality indicators, with notable improvements in NPL ratio and risk premium. The bank has managed to sustain its dynamic activity, with growth rates above the system’s average, becoming the leading global bank in the Paraguayan financial system.

Investment Banking

In the investment banking categories, Euromoney named BBVA as the best debt house in Spain, an award it already received in the 2013 and 2014 editions, confirming its leadership in a market where it is regarded as a key player by corporations, financial issuers and the public sector.

Every year the Euromoney Awards for Excellence conduct a thorough selection of financial institutions that manage to stand out from its competitors at regional and global level. Since 1992, they are the most prestigious awards handed out by Euromoney as they recognize the excellence of the institutions in each country and region, as well as globally.