In 2009, Spain and Portugal have focused their efforts on 4 levers:
- Management of non-performing assets and recoveries. Thus, NPA entries have been reduced and recoveries increased.
- Price management, thanks to repricing efforts.
- Containing expenses, with new progress in efficiency and productivity.
- Profitable growth and increase in customer loyalty, the basis for recurring income.
Due to the above, the area closed 2009 more efficient, more profitable and more competitive, broadening the gap with other primary competitors in terms of ROE, efficiency ratio and share of the operating income.
This management is shaped by a medium and long-term strategy which will allow the area to consolidate its leadership position and emerge stronger after the crisis. This strategy also has a clear objective of growing the customer base (capture of new clients and increased loyalty of current customers). And this is all done while maintaining its focus on efficiency. To do so, growth and transformation plans are being developed to recurrently increase the customer base and consolidate the leadership position of the area in the different segments in which it operates, through capture and loyalty plans.
As regards customer capture, the focus in 2010 will be on:
- Systematic management of collectives and groups, taking advantage of the great growth potential offered by the high level of BBVA’s penetration in large companies.
- Synergy Plan among commercial networks (CBB-Private Banking and CBB-Commercial Banking) to optimize their capillarity.
In terms of loyalty, the area is supported on strong commercial tools that enable additional advances in commercial efficiency, on new forms of marketing and, definitively, on a better client experience.
This growth strategy is complemented by a set of transformation plans related to the distribution plan, quality of service and improvement of the work climate. To do so, we are working on the distribution model, in order to be a distributor that is increasingly close, accessible and convenient for the client. We are making advances in the improvement of commercial capacities, in the remote management of clients, efficient management of servicing and the redefining of processes, externalizing those that contribute little added-value to the branch. Likewise, as we are aware of the value of the area being the sum total of the value of its satisfied clients, the Global Plan for Quality has been launched to measure and improve its corresponding processes though the reengineering of processes and excellence in the management of claims and complaints.
Finally, given the importance of the employee satisfaction, the Entity’s top asset, several initiatives have been implemented to foster the development of professional careers, conciliation and non-discrimination with the launch of the Plan for Equality. And all of this on the foundation of the principles that differentiate BBVA and the foundation of its business, its customers: ethics, transparency and prudence.