This has been coupled with an investment of $29m for an IT upgrade, expansion of its ATM network and the implementation of an IP Voice service in 177 branches.
These strategies are already bearing fruit. In 2007, BBVA increased net profits by 45.5% and grew assets by 40.4%.
The bank is focused on three key areas: its lending portfolio, loan risk and administrative expenses. With the introduction of new products – it is now the first bank in Colombia to offer a 20-year mortgage – it has secured a leading position in the country’s mortgage market and is now ranked first in the personal credit segment. At the same time, it has reduced the percentage of non-performing loans in its portfolio from 1.62% to 1.43%, and cut administrative costs by 9%.
“We are very proud to receive this award for the second consecutive year. The significant results we have achieved over this past year reflect on the teamwork, the passion and the ethics with which we have been performing our activities,” says Oscar Cabrera Izquierdo, CEO of BBVA Colombia.
“Our main goal is to consolidate our position in the Colombian market as a universal bank, and to grow our market share in the different segments in which we operate. At BBVA Colombia, we have managed to consolidate a management style with a special focus on teamwork that is clearly oriented towards results.”
