The TFFP currently comprises a network of more than 116 Confirming Banks from 54 different international banking groups, and 29 Issuing Banks in 14 Latin American and Caribbean countries, with US$527 million in approved credit lines. To date, the IDB has issued guarantees for over US$182 million in support of 230 individual trade transactions totaling US$245 million.
Banco Bilbao Vizcaya Argentaria S.A. - BBVA:
BBVA is a financial services group with more than EUR 492 billion in total assets, 44 million clients, 7,900 branches and approximately 111,000 employees in more than 30 countries.
BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and has started a growth and diversification strategy in the U.S. and Asia.
As of October 30th, BBVA has a market capitalization of EUR 64.09 billion and it is listed in Madrid stock exchange, London exchange and NYSE, among others. BBVA is one of the top three leading Euro zone banks in terms of return on equity, earnings per share growth and efficiency.
"With the signing of this agreement, the BBVA Group broadens its scope of action in the Global Trade Finance arena. The bank continues to focuson our clients and with the help of the TFFP we will be able to follow their needs as they expand beyond their local markets. As one of the largest banks in Latin America, we are very proud to join efforts with the IDB to foster the trade of goods between the countries in the region," said Gema Sacristan, director of Export & Agency Finance - The Americas.
Inter-American Development Bank
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