Innovation and success make BBVA's structured products the best in SpainNovember 21, 2013
BBVA, through its Corporate & Investment Banking division, has been recognised as the best bank in Spain for structured products by Structured Products magazine.
The award recognises BBVA CIB's outstanding activity in Spain as a creator of innovative products with recognised success, and its capacity to offer improvements and more interesting products to its institutional clients, outperforming other financial institutions selling structured products in Spain through retail, private and institutional banking.
The magazine highlighted the IBEX 35 Target Volatility index, developed by BBVA in conjunction with Bolsas y Mercados Españoles (BME). This index enables investors to limit risk for the IBEX 35 to certain predetermined levels. Through these indices "the bank helps investors by offering them an instrument that adapts to their risk profile, and also demonstrates its confidence in the Spanish market," according to Juan Ramón Domínguez, Equity Derivative Distribution Manager for the Spanish financial sector.
In addition, the bank offers ULISES, a hybrid product distributed to pension funds that combines a Spanish treasury bond with the Euro Stoxx 50 index. This product has been highly successful, offering high returns during the worst episodes of the European sovereign debt crisis.
On the fixed-income side, credit-linked notes have shone due to their ability to satisfy a trend detected by BBVA: "the return of an appetite for Spanish names and the significant demand in Spain and throughout Europe for credit-linked notes", explains Jorge Abellán, Fixed Income Global Structured Solutions manager for Europe and the USA, which he describes as "the stellar product in private banking".
One of the products most appreciated by the Structured Products magazine is a Guaranteed Deposit with memory feature on a basket of Spanish blue chips. This product demonstrates BBVA Corporate & Investment Banking's capacity to offer tailor-made solutions adapted to the specific needs of the customer in terms of format, returns and risk.