BBVA - Press Room

• BBVA spent 24% more on community investment in 2008, earmarking some €85 million 
• The benchmark social action initiative in Latin America is the Niños Adelante (Forward, children) scholarship program which will grant scholarships to 50,000 children in 2009 
• In Latin America BBVA increased spending on responsible business practices from 0.7% to 1% of net profit in each country
• The BBVA Microfinance Foundation now has 350,000 customers, a loan book worth USD 287 million and 1.7 million beneficiaries
• In 2008, BBVA jumped from 22nd place to 7th position in the Covalence global ethics reputation index, and was the top ranked Spanish entity

Today BBVA presented its 2008 Corporate Responsibility report, announcing that despite the economic crunch, in 2009 the bank will step up its €85 investment in community investment, having already increased spending by 24% in 2008. “At BBVA we are convinced that responsible business practices will benefit from the economic crisis based on our belief that profitability that is aligned with the principles of transparency, prudence and integrity creates greater trust and credibility” said Javier Ayuso, BBVA's Communication and Image director. The report highlights the consolidation and growth of BBVA’s Community Investment Plan for Latin America, where it spent €29.6 million last year, bringing scholarships to 47,104 children.
 
“The Niños Adelante programme has been the primary beneficiary of the Community Investment Plan in Latin America” according to Vicente Rodero, who runs BBVA’s South American operation. He went on to note that “this programme consists of financial aid, as well as food parcels in some countries, to facilitate the education of children in Mexico, Argentina, Chile, Colombia, Peru, Venezuela, Uruguay, Paraguay, Panama and Puerto Rico. In 2009, this programme will grant scholarships to 50,000 children. For BBVA it is a great satisfaction and an obligation to support the education of children and teenagers in the most underprivileged segments of society”.

Meanwhile, the BBVA Microfinance Foundation, founded in 2007 and endowed with €200 million, the network of the Foundation now has over 350,000 customers in Latin America and its activities benefit 1.7 million people. 60% of the customer base is female and the average micro loan on the books is for 0. The foundation´s network has 160 branches in South America, employing 1,700.

SRI and eco-efficiency at BBVA

Among the various corporate responsibility initiatives put in motion by BBVA over the course of 2008, the report highlights the global launch of its Eco-Efficiency Plan and the promotion of socially responsible investment (SRI).

The BBVA Group believes that socially responsible investment (SRI) is one of the truest expressions of a financial entity’s record on responsible business practice and constitutes a key pillar of policy in this area.

Antoni Ballabriga, head of corporate responsibility and reputation at BBVA, recalled that BBVA is the first Spanish bank to subscribe to the United Nations Principles for Responsible Investment, entailing a commitment to gradually integrate social, environmental and corporate governance criteria into its asset management.

Ballabriga explained that “BBVA is also the main catalyst for institutional SRI in Spain via its employee pension plans following the agreement reached last year with its pension fund manager (employee pension funds)”.

Turning to the recently launched Global Eco-Efficiency Plan, endowed with €19 million, BBVA has committed to cut its carbon emissions by 20% by 2012, among other ambitious, specific and measurable goals. The plan represents a significant quantitative leap in the direction of minimising the direct environmental fallout from BBVA’s activities. This initiative is designed in response to one of the great challenges facing society: protecting the environment, fighting climate change and achieving energy efficiency.

2008 CR Report

BBVA presented its seventh annual Corporate Responsibility Report, clearly structured around topical issues: customer focus, financial inclusion, responsible finance, responsible products and services, responsible management of HHRR, responsible procurement, environmental management and climate change and community involvement

BBVA’s Corporate Responsibility Report leverages innovation to take transparency a step further, as this is the first CR report in Spain to adopt an interactive digital magazine format.