BBVA confirms its leadership and commitment to the region: Best Trade Finance Bank in Latin America for the fourth year in a rowMarch 12, 2013
Global Trade Review magazine (GTR) has recognised BBVA as ‘Best Trade Finance Bank in Latin America'. The bank has won this award for four years in a row thanks to the work done by Global Trade Finance team at BBVA Corporate & Investment Banking.
GTR's award as Best Trade Finance Bank in Latin America is not the only one received by BBVA in the region. In addition, BBVA has also been named by Trade & Forfaiting Review (TFR) as the second Best Trade Bank in Latin America after winning this award for six years in a row (from 2005 until 2010), and has participated in several Deals of the Year.
Up to five Deals of the Year awarded by Trade Finance Magazine include the participation of BBVA; one in Venezuela for a buyer credit to national steel plant EPSSN (ECA: HERMES); another in Panama for the financing of the metro Line 1 (ECA: COFACE); two in Mexico for the construction of a petrochemical plant (Etileno XXI - ECA: SACE) and a wind farm in Oaxaca (ECA: EKF) and one in Middle East for the issuance of contractual bondings for the high speed railway Medina-La Meca project which will be built by a Spanish consortium (ECA: CESCE).
The list of awards is further increased with the Deal of the Year that has been awarded by GTR for the EtIleno XXI project, and another selected by TFR in the U.S. for the exclusive financing that BBVA provided to Horsehead Corporation (ECA: CESCE), a zinc manufacturer, in acquiring operating licenses for Tecnicas Reunidas.
Over and above these awards, BBVA Global Trade Finance unit's greatest success is its continued positioning as one of the best banks year after year. Especially in Latin America, where TFM awarded BBVA ‘Best Trade Bank in South America' in 2010, and also in countries like Peru, Colombia and Panama (2011).
Despite a very challenging international environment, the above-mentioned recognitions from the industry (exporters / importers / peer banks) show the sound knowledge as well as the structuring, delivering and handling capabilities of the BBVA Global Trade Finance teams in the various geographies and their great contribution to BBVA's customer base transactions in highly demanding and uncertain markets conditions.