BBVA - Press Room

• BBVA makes a €2.5bn credit line and a large network of branch offices specialized in business management available to CEIM and COCIM member companies
• BBVA granted more than €65bn of loans to small- and medium-sized enterprises (SMEs) through 190,000 transactions across Spain in 2008.
• BBVA was the leading bank in financing of ICO facilities for the fifth straight year in 2008.
• BBVA has 534 branches in Madrid and 3,200 employees specialized in business management.

“In signing this agreement, BBVA wants to help spearhead the modernization and enhance the competitiveness of Madrid companies, especially SMEs. The agreement underscores BBVA’s commitment to back its customers and be there for them at all times. In this case, our customers are businesses, which range from small, family-run enterprises to large industrial corporations. This initiative also reflects our deep commitment to the Madrid region,” said Francisco González today. The BBVA Chairman and CEO took part in the signing ceremony for the cooperation agreement between the Bank, the Madrid Confederation of Employers and Industries (CEIM), and the Madrid Chamber of Commerce and Industry (COCIM). Esperanza Aguirre, president of the region of Madrid, also attended. As a result of this agreement, BBVA made a €2.5bn line of credit available to Madrid companies.

The signing ceremony took place in the Real Casa de Correos, the seat of the Madrid regional government. Madrid regional finance minister Antonio Beteta, CEIM president Arturo Fernández and COCIM president Salvador Santos Campano also attended.

The BBVA Chairman and CEO explained that the tough situation of the Spanish economy is hurting Spanish companies. “Not only is demand contracting” -he highlighted- “but the change in risk perception and the difficulties facing many financial institutions are making it hard to raise financing.”

“Against this difficult backdrop, BBVA is aware of its responsibility as the premiere banking franchise in Spain, and of its commitment to its customers. Therefore, we are going to great lengths to continue providing loans to companies as usual,” explained Francisco González.

In 2008, BBVA granted €65bn worth of loans to SMEs in Spain, and for the fifth consecutive year, it was the leading bank in the financing of ICO facilities. In 2009, it has continued to roll out different initiatives to support this segment, where it has over a million customers.

“Our commitment is even greater in the Madrid region, where we are among the leaders in business banking, with a volume of close to €34bn and over 123,000 customers,” added Francisco González.

BBVA’s services and products

By signing this agreement, BBVA makes available to SMEs, companies, businesses and self-employed entrepreneurs in Madrid an extensive network of specialized branch offices capable of covering all their business needs and offering a range of products tailored to companies. These include financial products, such as euro confirming, investment banking, international factoring, operational renting and leasing of renewable energy, etc., as well as non-financial products, such as environmental and energy solutions, human resources management and aid to innovation.

Furthermore, in addition to its physical network, BBVA offers its customers cutting edge solutions in IT-based transactional services for businesses, from web support products for small businesses, to high quality and secure solutions designed specifically for companies.

“The agreement signed today marks another step forward for us. BBVA has made a €2.5bn credit line available, under special conditions, to CEIM and COCIM companies,” stated Francisco González.

The BBVA Chairman and CEO explained “to emerge from the economic crisis, everyone –the government, companies, financial institutions, and social organizations – will have to work together and towards the same aim.”

“The agreement we signed today is a good example of this collaborative effort and I am convinced that it will help Madrid companies emerge from the crisis stronger than ever, and that they will continue to be leaders both in Spain and internationally,” he concluded.