OVERVIEW OF THE YEAR Corporate Responsibility
In 2008 BBVA has continued to
make headway in the integration
of Corporate Responsibility within
its business strategy
2008 has seen the consolidation of
the Group’s CRR committee as the
body charged with driving the
integration of CR criteria, actions
and policies in all the Group’s
business and support areas.
Furthermore, 2008 has witnessed
the setting-up of local CRR
committees in six countries
(Argentina, Chile, Colombia,
Mexico, Peru and Venezuela),
chaired by their respective Country
Manager, and with each one
mirroring the approach taken by
the Group's CRR committee.
Group’s CRR committee. March, 2008.
Regarding the continuous
improvement in the information
provided to all BBVA stakeholders,
it should be noted that 2008 has
seen an increase in the number of
banks that draft their own
The BBVA Microfinance Foundation has granted microloans to 346,758 customers amounting to $287m
The Foundation is consolidating a
microfinance network through the
creation and integration of
microfinance institutions with a
strong local presence and solvency in
the management of these funds for
people with low incomes.
In Colombia in 2008, the
Foundation set up the Banco de las
Microfinanzas Bancamía as a result
of the merger and transformation of
the world women’s corporations
Corporación Mundial de la Mujer de
Bogotá and Corporación Mundial de
la Mujer de Medellín. Bancamía is
the country’s first microfinance bank
dedicated exclusively to providing
products and services designed for
low-income entrepreneurs.
In Peru, it acquired Edpyme Crear
Tacna, which was subsequently merged
with Caja Nor Perú and Caja del Sur
to incorporate a new institution: Caja
de Ahorro y Crédito Nuestra Gente.
The Foundation also incorporated
the Corporación para las
Microfinanzas-Puerto Rico, a
completely new institution created in
partnership with the Banco de
Desarrollo Económico de Puerto
Rico, being the island’s first
dedicated solely to microfinance.
Finally, the Foundation is also
present in Costa Rica, where it
subscribed an agreement with the
state-owned bank Bancrédito with a
view to promoting the microfinance
business both in this country and
throughout Central America.
60% of customers are women and
the average amount of each microloan
is USD 830. The Foundation has
1,700 employees and a network of
160 branch offices.
Corporate Responsibility reports;
Mexico, Peru and Venezuela have
now been joined by Argentina,
Chile and Colombia.
(Achievements in 2008 and
Goals for 2009)
In order to supplement its core
business, the Foundation undertakes
schemes to boost the development of
the microfinance sector within the
fields of education, technological
innovation, the dissemination of
information and knowledge, and
best practices in corporate
governance, which will help to
create a more favourable
environment for the development of
microfinance. To do so, the
Foundation has subscribed alliances
with institutions that share a
common mission, such as Spain’s
Open University (UNED), the
Organization of Ibero-American
States for Education, Science and
Culture (OEI) and the IDB.
(More information at
www.mfbbva.org)
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