In 2011, the Eurasia area focused on:
- In terms of business in Europe, carrying out an adequate management of prices and liquidity tensions, by prioritizing the relationship with customers and cross-selling over volumes.
- Regarding Turkey, managing the relationship with Garanti, the franchise included in the Group’s perimeter as of March 2011. That is, forming working teams in the different functions to facilitate mutual understanding, exchange know-how and search for joint business opportunities with Garanti.
The management priorities for 2012 will focus on:
- In Europe, the focus will continue to be on the prices and cross-selling management, as well as on controlling costs in order to maintain the value of the franchise. We also hope to take advantage of the opportunities presented by BBVA business model in a still difficult environment with little or no growth. Because of this, over the past few months growth plans had to be aligned with the new environment, keeping the focus on the key strategic projects:
- Regarding currency, service quality, access channels, value chain and process automation will be enhanced.
- Regarding lending, BBVA will work on getting a leading position as new issues advisor in the south of Europe for its core clients.
- Both strategic projects will be developed using a customer-centric approach, aimed at increasing product cross-selling opportunities and gathering customer insight.
- Finally, BBVA Group intends to be the “Latin America House of Choice”, encouraging European customers to buy products from Latin America, and Latin-American customers to buy “non-Latin American” products.
- In Turkey, the objective will be to develop new joint business opportunities with Garanti, to boost certain segments and products thanks to the exchange of experiences and knowledge, and to implement best practices in place across the Group.