Awards for Excellence 2009: Paraguay
Best Bank: BBVA Paraguay
Growth has been the name of the game for BBVA in Paraguay. In 2008, loans grew 44.7% and funds rose 27.1%. The bank’s focus on the retail market, with an emphasis on credit cards and mortgage loans, paid off, with an overall growth rate of 98.6% in 2008, and a return on equity for the retail division of 59.6% by March of this year.
Between January and April, banking profits in Paraguay rose 16.5% but by March 31 the financial system reported a sustained delinquency rate of 1.74%. However, BBVA Paraguay managed to maintain a rate of 0.43%,