BBVA in 2012

In 2012, BBVA has implemented numerous projects to ensure that these four core elementsbecome a reality. Among them are:• The implementation of the new BBVA Compass technological platform in all its branchesin the United States. This allows processing of transactions in real time, and thus gives thisfranchise a clear competitive advantage in the US market. The new platform will improve theservice provided through differentiated, efficient, faster and customer-centric processes.• Progress in the Group’s multi-channel distribution model. In Spain the number of customerschoosing “BBVA Contigo” as their main channel for relations with the Bank has continued toincrease. More than 360,000 customers are already remotely managed by approximately350 specialized advisers. In Mexico the “Dinero Móvil” BBVA Bancomer plan is boostingaccess to banking for new users, thus contributing to increase financial inclusion and thelevel of banking penetration in the country.BBVA wants to take advantage of all the opportunities technology presents to build a moreinnovative, more efficient, more customer-centric, and better-quality model. That is why itwill continue its commitment to technology, which is the main driver of future change in theindustry. The next leaps in efficiency in terms of both revenue and costs will not be throughincremental adjustments, but rather through a new model in which the role of remote channels,customization of products and services and the role of the branch will be radically different.3. A management model based on three elements: prudence, anticipation and a globaloutlook.• Prudence with respect to the decisions made on structural risks, credit risk, capitalmanagement and corporate transactions.• Anticipation in terms of the need to anticipate events and to have the flexibility to adapteasily to them.The strategy of prudence and anticipation has allowed BBVA to easily pass the stress testconducted by Oliver Wyman. Its results were published in September and placed it amongthe limited number of banks that do not need additional capital, even in the most adversescenario. This capacity of anticipation has been key to the Bank’s performance over thesedifficult years. It will continue to be so in the increasingly global and uncertain future.• The third element in the management model refers to the global outlook, including theconcept of cross-cutting approach, which consists of exploiting all the current potential ofBBVA’s businesses, customers and footprint. In 2012 the Group has continued to boost thecross-cutting management of its businesses to generate significant synergies, through:a) The Group’s wholesale businesses, Corporate & Investment Banking (CIB). A neworganizational structure has been announced for this area, designed to boost thestrengths of the business and maximize the opportunities provided by the newenvironment. The new organization strengthens the strategic priorities of BBVACIB: a greater focus on clients as the core element of its value proposition, as wellas optimization of its competitive advantages by boosting cross-border businessand maximizing wholesale activity in partnership with the Group’s banks and localnetworks.b) The Retail Banking business, created last year, has also been transformed in 2012, bycombining the Group’s businesses in South America with Global Retail Banking andInnovation. This new area has the following objectives:– Increase the growth of the franchises in South America and make the most of theopportunities in the region with the support of the corporate units.– Connect the retail businesses within the Group so that best practices can be easilytransferred and boost the development of the global business lines of consumerfinance, insurance, asset management and payment channels.Environment and BBVA positioning45