BBVA stands out for its solidity and solvency. Not only does it have one of the lowest NPL rates among the world’s biggest banks, at 0.83%, it also has no exposure to the subprime market. Even more impressive is that such a cautious approach has been accompanied by a good 20% profit growth and a RoE of more than 36%.
“BBVA is very honoured to receive this distinguished Bank of the Year 2007 award,” says Juan Asua Madariaga, chief executive for the bank’s Spanish and Portuguese operations. “It comes at a very good time for BBVA, because the bank is celebrating its 150th anniversary this year and presenting better results than ever in its history.
“BBVA is the leading bank in Spain and our goal is to be a bank of choice for all of our clients, both individual and corporate. To make this happen, BBVA has implemented a client-based business model, which places the client at the centre of its activities and offers a complete and innovative product-and-service offering for all clients’ needs, beyond the financial ones.
“The innovative approach to banking sets BBVA on the road to becoming a new kind of industrial company for financial and non-financial services distribution, however with a golden rule of always creating value for our shareholders and never sacrificing the profitability and efficiency for which BBVA is so well known.”
