"BBVA is the best partner for its clients in the cross-border business" March 5, 2013
"BBVA is the best partner for its clients in the cross-border business"
Luis Álvarez de las Asturias, head of Global Clients & Cross-border, explains the importance of the "cross-border" concept and the reason why BBVA has the best capacities to seize the business opportunities that result from it.
Q: Why the cross-border concept is so important to BBVA?
Since forever, it has been a key concept for BBVA. We manage corporate clients in a global world with multiple needs that require multi-product solutions (cross-sell) in different geographies (cross-border). Currently, this reality becomes even more important because of two factors: on one hand, clients, both institutional and corporate, are looking for growth strategies, and that force them to look out from its domestic borders, especially towards the emerging markets. On the other hand, the whole industry is changing and there is no "coffee for all" anymore. More and more, financial entities we have to focus on those aspects where we are able to offer value to our clients. In this context, our geographic footprint becomes a differential advantage that will allow us to capture the business flow to Latin America and South Europe.
Q: Has BBVA suitable capacities to take the most of this business?
Of course, we do. We have suitable capacities and I would say even more, we have an extraordinary strength. Our Group has a relevant presence in some of the countries growing at the highest rate in the world, such as Latin America. We still are one of the most solid and reliable banks worldwide, despite being a Spanish bank and in spite of the impact that the "risk Spain" factor has had on our rating. But, overall, we have an established client base with whom we maintain reliable, sustainable and long-lasting relationships and to whom we give solutions in all the aspects where we have differential capacities, both in products and geographies.
Q: What are the trade and investment flows foreseen for 2013?
There are different situations, but all of them offer opportunities. On one hand, we are present in countries with very attractive economic prospects such as Mexico and the three Andean countries Chile, Colombia and Peru, that attract corporate clients as well as institutional ones, and receive both financial and direct investment. In these countries, there are also increasing the regional investment movements from one to others and we are also observing the replacement of European investors by Latin American investors.
On the other hand, we have Spain that, even though is going through a economic situation, is growing interest itself, not only because its economic momentum is more understood, but also as an investment opportunity once the cycle gets to the bottom.