Banco Bilbao Vizcaya Argentaria : BBVA proceeds with its 2.5 billion investment plan and exceeds three million digital clients

800 million dollars invested in South America over the last 18 months

• BBVA expects to reach 6 million digital clients in 2016
• BBVA's Chief Operating Officer, Ángel Cano, stressed that today, more than ever, South America is one of the basic pillars for the Group's advancement
• "We want to offer our clients the best experience in all channels and to become the leading bank in terms of client satisfaction in South America", said Ángel Cano

BBVA's President & Chief Operating Officer, Ángel Cano, announced today that the bank is expecting to double the number of digital clients in South America, reaching 6 million in 2016. Ángel Cano emphasized BBVA's commitment to the region and highlighted the fact that 800 million dollars have already been invested as part of the 2.5 billion investment plan announced last year by the bank. "Today, more than ever, South America is one of the basic pillars for the Group's advancement", the Chief Operating Officer pointed out during the BBVA Economic Conferences, "Liderando la banca del futuro en America del Sur", in Bogota (Colombia).

Ángel Cano said today that the South American region shows sustainable growth, a trend that will carry on in the medium- and long-term. Additionally, he stressed that BBVA operates in South America for over 18 years now - it can be found in 7 countries and has almost 16 million clients, 1,600 branches and about 30,000 employees. The region represents a fourth of the BBVA Group's gross income and over 30% of its pre-tax profit. The Chief Operating Officer highlighted the company's positive progress in the region. "We maintain a balanced growth both in terms of investment and resources, with double-digit year-on-year increases".

Ángel Cano explained that the BBVA Group is currently undergoing a transformation process toward a more digital model, which the COO considered to be necessary to meet the challenges the finance industry is currently facing: greater regulation, greater transparency and accountability levels and greater competitiveness due to changes in client preferences resulting from the technological revolution.

Over the last year BBVA has increased the number of digital clients in the region and has now reached 3 million; it has also tripled the number of clients using mobile platforms, totaling over one million. Nevertheless, Ángel Cano pointed out that in regions such as South America there is still a lot of scope for the traditional business to keep expanding its client relationships and to attract people outside the banking world. "For this reason, we keep opening new branches and installing ATMs at the same time as we develop new mobile solutions", he stressed.

Investment plan in South America

The Chief Operating Officer announced that the Group has already invested 800 million dollars in South America as part of the 2.5 billion dollar investment plan for the region announced last year. 40% of the investment will go to technological projects so that BBVA becomes the region's leading bank in terms of digital channels; the remaining 60% will go to projects focused on growth in infrastructures and distribution networks.

The completed investment has been aimed at adapting the technological platforms - they enable the connection between the new channels and the new products required by the clients.

There has also been investment in the branch network to keep attracting clients via this method. One hundred new branches have been opened, over 600 new ATMs with the latest technology have been installed and about 3,000 new agents have been added to the network of banking correspondents, which stimulates innovative models of cellphone-based financial inclusion.

BBVA has also launched new websites such as the new corporate site for BBVA Banca Continental in Peru and the new online bank in Uruguay (adaptable to any device). Additionally, BBVA has developed new mobile banking solutions in the region, such as the app BBVA Móvil in Colombia, which has resulted in quicker and more agile service delivery to its clients.

Ángel Cano stressed that BBVA not only needs to invest in channels, it also needs to design products for sale through those channels. "That is why we are developing a more digital offering", he explained. "This is about developing products from a digital perspective, conceived in different ways, just as a digital native would image them: less data, more interaction and with solutions for social media." Here are two examples: SMS Banking in Peru which has been developed for clients without a smartphone and which makes it possible to transfer money and pay government services via SMS, and BBVA Link in Chile, the first Facebook bank account in Latin America.

Ángel Cano explained that this transformation process toward a more digital model also involves process simplification through digitization and automation. Nowadays more than 90% of financial translations are completed outside the branches thanks to service digitization and the new branch model.

BBVA's Chief Operating Officer stressed that the plan is already bearing fruit in the region: there has been an increase in the business share which is now almost 11%, as well as an improvement in the efficiency ratio which is now around 42%. Furthermore, over the last year the number of clients has increased by over one million; there has been an increase of over 30% in digital clients and the number of clients using mobile platforms has tripled.

The segment of digital clients has actually shown the biggest growth and BBVA has revised its objectives up. "We will reach 6 million digital clients in the region in 2016", said Ángel Cano.

"We want to offer our clients the best experience in all channels and to become the leading bank in terms of client satisfaction in South America", highlighted the Chief Operating Officer, who also stated that BBVA wants to keep its position as a leading bank in the future. "We are sure about this and we will remain committed to this region because South America is part of BBVA and BBVA is part of South America", concluded Ángel Cano.

Contact details: 
BBVA Corporate Communications
Tel. +34 91 374 35 53
comunicacion.corporativa@bbva.com

For more financial information about BBVA visit:
http://shareholdersandinvestors.bbva.com

About BBVA

BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.