(1888PressRelease)
July 17, 2009 - BBVA is also leader in financing for public administration, providing 40% of financing to local and regional government offices”, according to Francisco González, Chairman and CEO of BBVA, during a series of working meetings held today in Valencia. At the end of May, BBVA had a loan book of €22,926 million and assets under management of €11,722 million, with a total business volume of €34,648 million in the region. “These figures underscore BBVA’s strong commitment to the Valencia region, its citizens, businesses and institutions”, added Francisco González.
* BBVA is also the leading entity in financing for public administration in the region with a share of 40%
* BBVA Chairman and CEO Francisco González highlights the bank’s commitment to the Valencia region, its citizens, businesses, and institutions.
* BBVA has a significant presence in the Valencia region: with a business volume of €34,648 million, a network of 372 branches and a headcount of 2,072.
In his meeting with the management team, Francisco González highlighted that against the backdrop of the prevailing economic crisis engulfing Spain, “BBVA continues to outperform thanks to its winning business model, which meant that in 2008, the bank was able to extend its sustained earnings track record. This trend was ongoing in the first quarter of 2009 when BBVA posted excellent results, including €1,238 million in attributable profit.”
According to the Chairman and CEO of BBVA, “the entity’s strengths are based on the recurring nature of its income, on our preoccupation with continually raising productivity and prudent risk management. These factors give us the impressive wherewithal to generate capital organically, enabling us to remain a benchmark in Europe.”
Francisco González said that BBVA will be strengthened by the current economic climate because “we have a unique strategy, more relevant than ever before, based on three main pillars: principles, people, and innovation”.
“These three main pillars provide the foundation for a winning and robust business model, characterized by corporate positioning with a strong focus on retail banking and business diversification, prudent risk management, strict cost control and highly disciplined balance sheet management,” he added.
He also underscored the importance of the business in Spain and in particular the Valencia region, “without a doubt one of the main growth drivers at the group.”
Turning to 2009, Francisco González said that “faced with a challenging and complex environment, at BBVA we are taking all precautions to further strengthen our balance sheet, because the 21st century bank is faced with a real revolution, based on innovation and transformation and underpinned by technology. Only a handful of banks will make is past the finishing post and BBVA is well on its way”.
BBVA, leader in the banking business
Francisco González, who was accompanied on his trip by the head of the eastern division, Javier Pérez Cardete, expressed his pleasure at being in Valencia and having the opportunity to meet the entire management team.
BBVA currently has a network of 372 branches and a headcount of 2,072 and is leader in the Valencia region in loans, with a market share of 28.3%, and deposits, with a market share of 23.7%. It is leader in the business segment, with a market share of 28.9%, and a total of 112,000 companies and businesses in the region are customers of the bank. BBVA is also leader in financing for public administration, financing 40% of loans to local and regional government offices.
BBVA has an extensive network of specialist branches put in place to service companies’ needs. The strategy is predicated on relationship management combined with specialization. It is the leader in the business segment, working with more than 100,300 customers, and the SME and large corporate segments, with 11,600 customers.
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