Awards for Excellence 2017
This year BBVA wins Euromoney’s award for best bank for corporate social responsibility (CSR) in Latin America for its dedication to transparency and to promoting financial literacy and inclusion.
Its leadership-driven transparency, clarity and responsibility initiative has involved transforming its communications to clients, whereby products and contracts throughout the region have been reduced to one-page explanatory documents that clearly outline risks.
“In emerging economies people are entering the financial system, and to do responsible banking we need to help them take financial decisions with full understanding,” says Antoni Ballabriga, global head of responsible business. “Financial education and transparency are the key fundamentals to build trust, our most important asset.”
That also entails financial education. BBVA is the only bank to partner with the OECD in financial literacy and runs workshops for individuals and companies (both clients and non-clients) in Mexico, Chile, Colombia, Peru, Venezuela, Panama and the Dominican Republic.
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Antoni Ballabriga, |
In addition, BBVA has an independent microfinance foundation headed up by Javier Flores. Under his leadership, BBVA is pushing the evolution of the micro-finance sector in the central and south American countries in which it operates.