Awards for Excellence 2019
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As trade disputes between China and the US continue, Latin America has been caught in the middle. Countries across the continent have been forced to choose whether they trade with their American neighbour or their Asian partner.
As a result, corporates require a nimble partner with deep regional knowledge and cutting-edge technology to help them with their cross-border trade and cash management issues, which are complicated by inconsistent trade tariffs and foreign exchange volatility.
The bank most trusted to navigate through this political and economic uncertainty is BBVA, which is Latin America’s best bank for transaction services this year.
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Jose Luis Lopez-Sors |
Under Jose Luis Lopez-Sors, managing director and head of global transaction banking Americas, BBVA has continued to support its clients through its deep network across the region, while also leveraging its branch network in Asia and Europe.
In trade finance, BBVA has a number of e-trade platforms, each adapted to their individual country to account for variations in regulatory requirements and currency issues.
In cash, the bank has been updating its digital offering through its ATM network and has streamlined online access to accounts for treasurers, who now only need one password to view all accounts. BBVA provides a complete product suite, including cross-border payment and collections, letters of credit, guarantees, liquidity and FX capabilities.
The bank’s trade finance division also has a strong focus on sustainability. In November 2018, BBVA signed the first credit with Spain’s export credit agency CESCE coverage to receive ‘green’ certification.
The bank provided €16.5 million over five years to the Colombian company Hidralpor, to finance a trade contract between Voith Spain and Hidralpor to implement the Hydroelectric Mine School Project.
