RESPONSIBLE PRODUCTS AND SERVICES
Corporate Responsibility Report 2008
38
Funds with CR criteria (Million euros)
Public interest purposes
Fund Aim for which they are allocated
BBVA Extra Guaranteed The chosen companies are among
5 II Garantizado equity those listed on the FTSE4Good
index which applies CR criteria in
its selection process
BBVA Desarrollo International The chosen companies are given the
Sostenible equity highest rating according to an
external analysis (1)
BBVA Codespa Hedge fund Investment in OTC securities in
Microfinanzas developing countries
(1) The ratings are provided by a prestigious, independent international agency, specialising in analysing companies according to the criteria of sustainability and corporate responsibility
(economic, social and environmental).
Scope: BBVA Group.
voluntary adoption of ethical standards. This
certification commits BBVA to assuring the
relevance, accuracy and precision of the
information concerning yields that it presents
to customers or investors.
SOCIAL
PROVISION
PENSION PLANS. The
BBVA Group is an industry
leader in individual pension
systems in Spain, with a market share of
16.40 %, according to data from INVERCO
at December 2008.
Similarly, BBVA is a leader in the management
of pension funds in Latin America, with a share
of 22.8 % of all managed assets. This position
has made the bank a key player in the
development and consolidation of private social
provision schemes in the region, as well as a point
of reference for countries in other geographical
areas. Moreover, BBVA has been an active
participant in designing the reforms being
implemented in different countries around the
region, offering descriptions and proposals for
Customers' pension plans (Million euros and million members)
Spain
Latin America
2008 (1)
Volume Members
(1) The reduction in the volume and number of members in 2008 is due in the main to two reasons: the generalised market crisis and the recent nationalisation of the pension
system in Argentina.
Scope: BBVA Group.
2008
Volume Members
2007
Volume Members
628.72 24,545 688.07 26,323 785.20 29,244
12.54 5,409 29.89 7,165 52.01 10,377
27.36 22 23.67 29 20.55 6
improvement. At the same time, it has
contributed solutions aimed at the sustainable
development of pension systems.
With the aim of assessing the long-term
performance of pension systems and of improving
reform development, the BBVA Group has put into
practice a methodology projected up to the year
2050, one that follows a macro-actuarial model
based on three foundations:
1. A demographic analysis, in order to establish
the aging profile;
2. A macroeconomic analysis of the countries,
including GDP growth, investment levels,
productivity rates and formal job demand;
3. An analysis of the parameters of the pension
system, which determines the membership,
contribution and benefits profile. This analysis
takes into consideration the contribution, fee
and profitability rates, as well as mortality
tables and benefit calculations between systems.
As a sign of this commitment, BBVA’s Pensions
and Insurance Unit in the Americas and the BBVA
Group Economic Research Department
2007
Volume Members
16,060 1.9 17,068 1.9 16,291 1.9
31,727 12.7 43,474 13.6 40,497 12.7
2006
Volume Members
2006
Volume Members
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