BBVA has again been honored by the international magazine LatinFinance, placing the Group at the forefront of international markets as one of the top award winners at the most recent edition. This distinction is evidence that BBVA is the best business partner for its clients.
Specifically, BBVA won the awards for Best Bank Mexico 2011 (for the second consecutive year), Best Bank in Peru, Best Bank in Venezuela and Best Local Investment Bank in Mexico 2011.
BBVA Bancomer continues to attract top ratings from sector analysts. Its strengths were further buoyed this year by the success of its local investment banking business. The main challenge facing the bank is clear; to maintain its leading position.
BBVA Continental has proved itself to be one of the finest operators in Peru and, despite facing major competition, retained its leading position in several categories, even increasing its coverage to new sectors such as small and medium sized enterprises. The bank is the leader in terms of efficiency and asset quality, as well as one of the most profitable banks in the country. Furthermore, BBVA Continental has acquired a standout profile in international capital markets. The bank was also recognized as the fifth best in Latin America by the magazine América Economía. The Fitch credit rating agency lifted its long-term debt rating in the local currency from BBB to A-.
In Venezuela too, BBVA Provincial showed itself to be very strong, even amid a difficult climate for banks, as the magazine points out. In fact, it recorded one of the strongest results in the country. The prospects for the Venezuelan subsidiary are stable, which, according to LatinFinance, is a reflection of its excellent performance amid a highly unstable climate. It is also the reason why the bank can boast good profitability, controlled asset quality ratios and a strong capital base, according to the Fitch rating agency.
Recognition for investment banking
In investment banking BBVA has been recognized as the Best Local Investment Bank in Mexico, demonstrating that it is at the forefront in global markets and has an excellent positioning in the large corporations and institutional investors segment.
The magazine also highlighted among its achievements the completion of important project financing, bond market and capital market projects.
In project financing, BBVA Bancomer was the lead financier for OHL Group’s construction of the Urbana Norte Highway, which will be one of the most emblematic urban infrastructure projects in the country. Likewise, the Mexican bank financed Vopak Holding and Enagas in their acquisition of a storage and liquefied natural gas terminal in Altamira, Tamaulipas.
The magazine also points out that BBVA is committed to developing Mexican capital markets, via a primary public offering of shares in the Financiero Banregio Group, one of the leading regional banks in the north of the country.
On the bond markets there was the successful placement of Caterpillar Crédito Senior Bonds, of Corporación Interamericana de Inversiones (CII), Gas Natural’s bond issue on the Mexican market and the first issue of Fiduciary Stock Market Certificates (FMS) closed in 2011 by FOVISSSTE.
BBVA’s success at these awards was due to its extensive experience and outstanding position in financial markets. Proof that BBVA is the best option for global clients in need of high added value solutions.