BBVA Bancomer has successfully placed a 10-year senior bond issue for USD 750m, with an interest rate of 4.375%, a very similar figure to that of the Mexican sovereign bond. Moody’s has given it an A2 rating with a stable outlook. The issue was placed on international markets and was oversubscribed four times, demonstrating the confidence of investors in both the bank and the country.
On February 12th, 2014, Moody’s raised BBVA Bancomer’s long term foreign currency deposit rating from Baa1 to A3 with stable outlook and changed to positive the outlook for its financial strength. The above is partly a consequence of the rating upgrade of Mexico to A3.
As part of its 2013-2016 Investment Plan, BBVA in Mexico aims to give quicker and more secure access to financial services through digital channels. This has been reflected in the fact that pre-approved consumer loans are available through channels such as ATMs, among others. A new image for the website www.bancomer.com has also been launched, incorporating significant improvements to make customer transactions quicker and easier and to increase their security.
With respect to awards and prizes, BBVA Bancomer has been recognized as “Best Bank in Mexico” by the magazine Global Finance for its profitability, good service, innovative products and the achievement of the best results in 2013. The publication has also highlighted the good solvency level and ample liquidity position, which will enable BBVA Bancomer to support future growth.
Lastly, the following initiatives should be mentioned with respect to corporate responsibility, in products with a high social impact, BBVA Bancomer has been recognized by the Inter-American Development Bank (IDB) with the “Beyond Banking 2013” award in the Responsible/Impact Investment category for its community involvement carried out through the “B+Educa” fund. The shareholders in this Mexican fund contribute 25% of returns obtained directly to the integration scholarship program “Por los que se quedan” (For those left behind). Thus, the BBVA Bancomer Foundation received 81 million Mexican pesos (€4.8m) in 2013 from 28,202 shareholders in this fund for scholarships granted to young children of emigrants who are studying the three years of junior high school.
