BBVA Celebrates 25 Years in Colombia

BBVA celebrated its 25th anniversary in Colombia committed to “the economic and social transformation of the country” and became the first foreign investor in the financial sector, the bank reported Tuesday.

“BBVA has become the first foreign investor in the financial sector and the fourth largest investor in all sectors,” bank chief executive Mario Pardo Bayona was quoted as saying in a statement.

Pardo added that BBVA Colombia is “a strong entity with great human talent, which has become a very differential aspect.”

BBVA arrived in Colombia in 1996 and has opted for the local market motivated by its growth potential, as well as its human talent and its institutional framework, he added.

As part of the commemoration, the entity presented the book ‘BBVA, 25 years committed to the economic and social transformation of Colombia’, in which it recounts its main milestones.

BBVA has opted for the country for three main reasons. The first, because of that interesting combination of being a nation with a high potential for economic growth and a deepening of financial services,” said Bayona.

He stated that the second is “the strong institutional framework that facilitates the conditions for this potential to become a reality,” while the third is “the conviction that BBVA, as a group, can contribute to the development of financial services and with it, to the economic and social growth of the country “.

Among the milestones of BBVA in Colombia, the acquisition of Banco Ganadero and then of Granahorrar stands out, which made it one of the main players in the local market, as well as its digital transformation.

“We were the first bank to enable practically 100% of the operations that a client needs to do frequently with the bank from the mobile banking application,” Pardo stressed.

The president of the bank also stressed that “contactless payment technology was incorporated with the launch of BBVA Wallet in 2016 and we reinforced this year with the enablement of cell phone payments through NFC technology.”