BBVA in 2012


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In 2012, the Uruguayan economy posted solid growth (up 4%, according to estimates), thanks to strong domestic demand in both consumption and investment. The annual inflation rate stood at around 7.5%.

BBVA Uruguay has kept its second place in the private bank ranking for the loan volume produced, with year-on-year growth of 13.6% in gross lending to customers and a 20% market share. Customer funds are up 2.4% of which lower-cost funds have performed strongly (current and savings accounts are up 7.0%). In conclusion, the net attributable profit stands at €27m (up 196.6%).

The highlights of the year have been the major effort made in the retail segment, supporting banking penetration in the country, and the growth in credit cards, through alliances with distributors and differential promotions. The call center has also been resized and a “serves to sale” concept has been adopted, developing the distribution channel and adding quality certifications and complaints service.

Regarding asset/liability management, 2012 has been characterized by positive handling of liquidity and strong activity in local currency operations, where the bank has been extremely active in the primary and secondary markets, both with its own portfolio and customer brokerage.