Carlos Torres Vila: Mexico’s opportunities reaffirm our desire to continue investing

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Carlos Torres Vila also highlighted the decarbonization of the economy as one of the great upheavals in history and one of the future challenges of the world. “It could also be a great opportunity for Mexico, which has a huge competitive advantage thanks to its climate and geography, to invest in renewable energy or reforestation projects to offset carbon emissions,” said he declared.

On this topic, Onur Genç, CEO of BBVA also praised the good performance of sustainable finance in Mexico, which continues to accelerate: in 2021, investments to combat climate change increased fivefold, while investments in social programs doubled. For Onur Genç, this strong position is due to more than 40,000 people who work in Mexico to make BBVA the best bank in the country.

The group’s CEO also explained to BBVA Mexico’s RNCR 2022 attendees that globally, the bank has a strong leadership position, as evidenced by double-digit market shares in its key markets. In some countries, the market share is close to 20% or even more.

For Onur Genç, the BBVA franchise in Mexico”Powerfully models all the Group’s strengths. It is the leading financial institution in Mexico and, beyond that, it is a reference both inside and outside the Group as a digital precursor, with 74% of customers acquired digitally in the first quarter of this year,” he said.

Ninety years serving Mexico

During his intervention at the RNCR 2022, BBVA Mexico Country Manager Eduardo Osuna said the strength of the bank, which is now celebrating its 90th anniversary in the country, makes it a source of strategies for developing products and services that help individuals and businesses achieve their financial goals.

BBVA Mexico, explained Eduardo Osuna, consolidates its position as the bank that offers the best opportunities to individuals and companies and, beyond that, as the largest fintech company in the country. Customers now total 25.3 million, or 31% more than in 2019, across all individual segments (wealth management, private banking, commercial banking, express transactions and beneficiaries of social programs). In the corporate sector, BBVA Mexico has 778,000 clients, ranging from micro-enterprises to global enterprises, with a growth of 28% compared to 2019.

Osuna announced that BBVA Mexico will continue to support SMEs, which it considers a key driver for the country’s development. Loans to this segment reached 764 million euros from January to April 2022. At the end of 2021, the total portfolio amounted to 3.77 billion euros, with the acquisition of 639,000 new customers. The objective is to add one million small and medium-sized enterprises by 2024 through a strategy based on the concept of “local banking”: BBVA seeks to bring credit closer to this core business segment by increasing the banking.

The bank’s leadership in Mexico is based on a strategy based on four pillars: development new products and processes; the design of a range of products offered via the smartphone application; build a powerful physical structure; and enhance security and availability. These priorities will be pursued through an ambitious investment program of around €3 billion for the 2019-24 period, with an expenditure of €620 million for 2022 alone.

Looking to the future, the bank’s goal is to continue driving economic growth through responsible lending and encouraging a culture of savings among the Mexican public. From the first four months of 2022, the total portfolio amounted to 62 billion eurosan increase of 9.8% year-on-year and 10.1% compared to the same period in 2019. The acquisition of customer deposits totaled some 67 billion euros, or 14.8% more than in 2021 and 28.9% more than in 2019.

In the first four months of 2022, BBVA Mexico placed 552,000 credit cards79% more than the same period in 2019. Consumer loans totaled €2.25 billion, up 20%, while new mortgages reached more than €1 billion. euros from January to April 2022, up 35% compared to 2019.

Supporting diversity and inclusion is a pillar of our global strategy for the years to come. Excellence in education is supported by the BBVA Mexico Foundation by granting scholarships to children and young people from secondary school to university. There ‘Chavos that inspired‘, first launched in 2002, awarded 400,000 scholarships to high-achieving low-income students to help them complete high school and college. In addition, BBVA has invested some €170,000 to provide scholarships to 100 young people with disabilities, to support academic excellence and create opportunities for them in the labor market.

The BBVA Group is resolutely is committed to the environment and aims to migrate to an offer that supports economic and environmental sustainability. In 2021, BBVA Mexico financed sustainable projects for approximately 3.34 billion euros. The objective for this year is to grant more than 4.25 billion euros in sustainable financing, with the bank maintaining its leadership in the financing of sustainable projects.

BBVA Mexico leads the transformation of the financial system through investment, a firm commitment to innovation in products and services, continuous improvement of processes to improve the customer experience, and programs to attract and develop the best talent. These elements combine to help build a country of opportunity in banking and social responsibility.

¹The exchange rate is 20.95 Mexican pesos per euro, as of 07/06/2022.

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