“BBVA has a very relevant presence in Latin America and, in this context, is in a unique position to help companies make the most of international trade corridors, specifically towards Asia and Europe, thanks to its expert teams, its reach commercial and its ambition to continue being the best partner to drive clients’ cross-border business,” he said. Javier Rodríguez Soler, Global Head of Sustainability and Corporate & Investment Banking (CIB) at BBVAat the opening of the 13th BBVA Latin America Conference being held this week in New York.
Latin America’s economy has demonstrated its resilience and adaptability over the years, with markets evolving rapidly to face the challenges of a changing economic, financial, social and political landscape. “Not only do we find a positive structural factor for the region’s economies, which is the absence of financial or credit bubbles, but it also seems to be well prepared to deal with potential geopolitical changes or changes in global supply chains,” he said. Rodríguez Soler noted in his presentation to investors. BBVA is present in the region through its universal banking franchises in Mexico, Colombia, Peru, Argentina, Uruguay and Venezuela.
BBVA Latin America ConferenceIt has become a reference for the financial community, where this year a total of 400 attendees gathered, with more than 200 institutional investors and almost 100 corporate clients from 50 more companies and seven countries in the region. Among other personalities, Alejandro Werner, director of the Georgetown Americas Institute and former director of the International Monetary Fund, has participated; María del Carmen Bonilla, Undersecretary of Finance and Public Credit of Mexico; Julio Velarde, governor of the Central Bank of Peru; or Alberto Naudon, director of the Central Bank of Chile, who have addressed in their interventions the challenges that these economies present.
During the meeting, the different experts have highlighted the expectations that Latin America can capitalize on its geographical location, production and commercial relations in a strategic way, especially in Mexico as a possible beneficiary of economic rebalances and in relations with the United States, in addition to the support derived from the ‘nearshoring’.
Most Latin American countries have followed prudent policies, especially on the monetary side, with central banks that have initiated relaxation processes (from very high levels) and are willing to tolerate the effects of depreciation on their currencies. Some speakers also highlighted the possible role of industries with great potential such as renewables or metal supply. In particular, they were optimistic about matters such as copper and a possible expansion of demand and investment in the coming quarters. Regarding Argentina, they highlighted the country’s political and macroeconomic prospects, better than expected, although they expressed some consensus on the need to anchor a broad political agreement and move towards more consistent policies.
In this environment, BBVA is prepared to continue supporting the configuration of the financial future of Latin America, thanks to its commitment to the economic growth of the countries where it has a presence and satisfying the needs of the entity’s clients in the region. Along these lines, BBVA also plans to expand its teams in Brazil and Chile and boost the Structured Finance Transaction (repos) business in the region.
