BBVA
shopping in South America looks to increase its presence in a region which remains the engine of growth this year, as explained Vicente Rodero, BBVA director of South America.
"may be given any other options (corporate movement) in 2011 following the acquisition of Crédit Uruguay in 2010, but there is much competition for non-organic growth and sellers are few. But we will be there, "said Rodero in an interview with Reuters on the sidelines of a forum on Latin America Reuters.
The manager He added that these purchases, which "can finance their own or with partners," would have a size assumable, so that could be made "without recourse to the markets."
On the possibility of an entity to rush a purchase in Brazil, the only major market area which still has a major presence, Rodero noted that analyze all options, but that " chances of making an acquisition in Brazil are very low and the prices are too high for the low supply out there. "
America
The executive is optimistic about the evolution of Latin America and the business of BBVA in the region.
Rodero believes that the area will grow at over 4% in 2011, an expansion that will be moved to an increase of double-digit profit for the entity.
Rodero Peru and Panama are expected to grow at a rate close to 7%, Chile and Uruguay will make more than 6%, while Mexico will expand at a rate of between 4% and 4.5 %.
"BBVA In this environment we will be with a net margin that will to grow between 5% and 10% and earnings to grow by double digits in the whole region in 2011, "stated the executive of BBVA.
The second English bank to 4.606 million won euros in 2010, 9.4% more. Of this, nearly 2,600 million achieved in the South, about 15% over the previous year.
addition, the manager expects strong growth has a direct impact on reducing delinquency and sanitation in virtually all its subsidiaries, except Venezuela.
Mexico
Rodero has again pointed to Mexico as a growth engine of the results of BBVA in 2011.
On the possibility of taking a bag BBVA Bancomer, was blunt: "not on the agenda of the bank"
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