This improved the bank’s capability to increase the size of its operations, its customer base and business opportunities. These moves were closely monitored by a highly skilled managerial team and staff, all of whom placed a sharp focus on risk management with special attention on the NPL ratio. The latter has been progressively managed down over the past three years, to 2.08% of the loan book in 2006, compared with 2.26% in 2005 and 3.68% in 2004.
The bank grew its capital base last year, as well as its deposits and number of clients, all of which enabled the group to boost its lending activity and investments. This, in turn, increased critical mass, income and profits, which allowed for the introduction of new products and a more diverse business mix. Continental is now active in corporate banking, financing agriculture and cattle ranching, trade finance, FX and other key sectors.
“BBVA is proud to receive this significant award in a country where the financial sector is currently in full growth and development – facts that are making the bank increasingly competitive,” says president Vincente L Bogliolo. “Leading international banks – of which several arrived only a short time ago – are doing business in our market; BBVA is the only local bank that has consistently obtained the highest rating from Superintendency of Banks, a division of the Central Bank of Paraguay, during the past five years.”
