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Global Finance names BBVA as the best Trade Finance bank in Uruguay
BBVA is once again Uruguay’s leading commercial finance bank, according to the Global Finance awards announced by the publication. The editors of Global Finance, together with company executives and technology experts, recognized BBVA as one of the most renowned banks with awards representing the standard of excellence in the financial sector.
The winners of Best Commercial Finance Providers 2024 were selected based on their performance over the last year on a number of parameters such as transaction volume, global coverage scope, customer service, competitive pricing and innovative technologies.
José D. Giarraputo, the founder and editor-in-chief of Global Finance, explained that: “A challenging economic and geopolitical environment and changing trade flows have led to greater reliance on digitalization and emerging technologies, as banks and their corporate clients seek collateral in a transition phase”. In this sense, Giarraputo considers that banks are finding new ways to face the ecosystem in the face of greater demand for environmental, social and governance (ESG) policies.
For Paola Baiocchi, Head of International Trade at BBVA Uruguay, this recognition for the fourth consecutive year “reaffirms the merit of the BBVA Group’s strategy, which, with the customer at the center of the business, aims to be at the forefront and anticipate your needs, providing innovative and competitive solutions that serve as tools to maximize commercial flow, in this case to and from Uruguay.” Baiocchi also highlighted the capacity and commitment of the local team, and the constant support and synergy with all the units that make up the BBVA Group.
In addition to the award given to BBVA Uruguay, the Group also received the award for Best Trade Finance Bank in Latin America, among others.
In addition to the traditional products offered by the bank (e.g. international guarantees, letters of credit, A/B loans, etc.), the publication points to BBVA’s significant investment in digitalization and also highlights BBVA’s sustainable business target for 2025, which includes channeling 300 thousand million euros to help combat climate change.
Global Finance magazine specializes in financial markets and investment banking. Since 1987, it has supported business leaders, bankers and investors to chart the course of global business and finance. Its annual awards recognize excellence and have become the standard for quality and trust.