January-December 2012
Highlights
- On December 24, 2012, the BBVA Group reached an agreement for the sale of its stake in its subsidiary in Colombia BBVA Horizonte Sociedad Administradora de Fondos de Pensiones y Cesantías S.A. to Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir, S.A., belonging to Grupo Aval Acciones y Valores, S.A. This agreement is still pending regulatory authorization. The final price has been set at USD 530m and will be adjusted based on the company’s earnings from January 1, 2013 to the transaction’s closing date.
- BBVA Chile has been recognized by the Chilean-US Chamber of Commerce with the “Good Corporate Citizen Award” for its program “Niños Adelante” (Children Forward), which provides quality nursery education to children suffering from poverty.
- The good performance of BBVA Continental in Peru is reflected in the awards granted in 2012. For the ninth year in a row, the bank has received the “Best Bank in Peru” award from Global Finance magazine. This same recognition has also been granted by “The Euromoney Awards for Excellence” and Latin Finance. It has also been chosen as the third best Latin American bank by América Economía magazine, two positions up in relation to the rating obtained in 2011. In addition, BBVA Continental has won the “Luis Hochschild Plaut 2012” award during the Annual Conference of Executives (CADE) for its promotion of quality education with the implementation of the program “Leer es estar adelante” (Reading means keeping ahead).
- BBVA Provincial’s sound position and leadership in the Venezuelan financial system has been confirmed once again by the various awards received during the period. For the sixth year running, it has received the “Best Bank in Venezuela” award granted by the prestigious magazine Global Finance. Also for the sixth year in a row it received the “Best Bank in Venezuela” award granted by the international publication Euromoney. For the fourth time in the last six years, The Banker granted BBVA Provincial the “Best Bank in Venezuela” award. This is one of the most important accolades in the financial industry. In addition, for the second year, the bank received the “Best On-line Bank” award granted by Global Finance and was selected as the “Most effective online bank” and the “Bank offering the most effective response” by the Suiche 7B corporation.
- Finally, in Paraguay, BBVA has strengthened its retail business with the purchase of the credit card portfolio of Citibank NA, Paraguay Branch. With this acquisition, BBVA will become one of the main banks in this market and strengthen its position as a comprehensive bank for the preferred customer segment.
