January-June 2013

Main highlights

As mentioned at the beginning of this chapter, in this environment of reduced activity, the Group’s goal in Spain is to increase its customer base and customer bundling, making the most of the current situation of the financial system and leveraging the strength of the BBVA brand. To this end, several commercial actions have been carried out in each one of the segments served by the area. During the first half of 2013, the Retail Banking business has launched various savings and investment products, since customer funds and transactional banking are currently the main means for attracting new customers. Specifically, the following commercial actions were carried out during the quarter:

  • Launch of a new range of deposits designed to encourage closer relationships with customers: “Depósito 12, 18 ó 24” and the new “Depósito BBVA Tranquilidad”.
  • Promotion of mutual funds among customers whose characteristics and needs match this type of investment.
  • In insurance, implementation of a new campaign for the 10-year “PPA BBVA” (Guaranteed Pension Plan) product and the new life insurance “Seguro Vida BBVA”, a flexible and modular product that adapts to changing customer needs.
  • Bolstering of the “Adiós Comisiones” (Goodbye Commissions) program with the launch of a commercial campaign aimed at increasing customer bundling.
  • In the elderly customer segment, a decision was made to bring forward the pension payment date to the 25th of each month. This has been identified as an important lever for improving customer experience and, therefore, for attracting new pensions.
  • In the “Premium” customer segment, the Bank is publicizing the portfolio management service, which enables customers to obtain the equity structure best suited to their investor profile.

In Corporate and Business Banking (CBB), the following initiatives are being carried out to attract new customers:

  • In the difficult environment faced today by businesses, particularly SMEs, BBVA has set itself the goal of increasing the volume of lending. To do so, it has launched an ambitious plan together with the risks area, called “Plan + Negocio”, with a twofold aim: continue to give special support to solvent customers while taking the opportunity to approach new potential customers.
  • In addition, BBVA is very active in concluding partnership agreements with the various regional governments. Over the last three months agreements have been signed with: the Basque regional government, Aval Castilla la Mancha and Aval Madrid, Institute of Finance of Castilla la Mancha and Institute of Finance of Cantabria, Transaval, Cordoba City Council, the Institute for Economic Development of Asturias and the Federation of Self-Employed Worker Associations (ATA).
  • The Bank understands that the foreign sector is one of the fastest growing today and with the highest potential. Because of this, it has designed a new service that provides financial support to customers operating abroad through the coordination of the 20 SME Banking networks worldwide.
  • A methodology has also been implemented for harnessing the “Customer’s Voice” in this segment in order to continue improving the service provided to this group.

Other relevant highlights in the quarter include:

  • Successful completion of the integration of the Unnim network into BBVA on May 26, thus closing the process started in July last year. This integration has taken place after the successful completion of the swap of Unnim preferred and subordinated securities, which were distributed through the retail network, for BBVA shares; the labor agreement reached with Unnim staff; and the partnership agreement signed with Unnim’s social projects area. Since then, Unnim operations have been completely integrated into BBVA’s systems and the entire network is working in a unified manner under the BBVA brand. At present, the bank is consolidating its position in Catalonia as the number one financial institution in business with institutions, corporate banking and large companies, and the third institution in individual customer, small business and SME banking.
  • BBVA continues to develop its multi-channel concept, which is essential for making quality compatible with growth in the customer base. The new website www.bbva.es was launched during this quarter. It has involved a significant increase in the functions available through this channel.
  • BBVA has been chosen as one of the three most attractive companies to work for in the banking sector in Spain in the “Randstad Employer Branding”.
  • Lastly, in the area of corporate responsibility, apart from the boost already mentioned to the “Yo Soy Empleo” (I am Employment) initiative, BBVA has joined the agreement signed with the Madrid regional government to provide easier access to loans for entrepreneurs, with an initial total volume of €150m.