has decided to return to Chile after two and a half years. The group, which , returns to the country through an alliance with BCI, the fourth largest bank in the country and , with the aim of providing services to business clients, especially those that have business relationships.
The Spanish entity, which since the last financial crisis has significantly restructured its internationalization by exiting different markets, now intends to reach agreements to be present where it does not operate or has ceased its activity.
This is the case in Chile, where starting in March, BBVA customers will be able to start using services to pay suppliers in the country and, later on, they will add other possibilities, such as payroll payments or transfers. To do this, companies will only have to open an account with BCI.
For Eva Rubio, head of Global Transaction Banking, “at BBVA we are creating alliances with the leading banks in countries where we do not have a presence.”
In this international redimensioning, for example, there has been an agreement for 9,700 million, an operation that will foreseeably close this summer. Its president, Carlos Torres, did not rule out last week that new movements will take place in the future, depending on the opportunities that arise at all times. But he also did not deny that the bank is going to take advantage of the growth opportunities that arise in the different markets through profitable purchases.
In the last decade, the group has left different Latin American countries, such as Panama, Paraguay, Puerto Rico and Chile, as well as China. And in the coming months it will do so from the United States. Instead, it has made a firm commitment to Turkey, where it has 50% of Garanti. The divestment from North America offers a cushion of about 5,000 million to look for opportunities, once discounted.
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