Greenwich Associates highlights BBVA USA for its "standout" COVID-19 response
BBVA USA has been recognized by Greenwich Associates in their Standout Banks Amid Crisis list for its effective response to COVID-19. The bank processed over 22,000 Paycheck Protection Program applications, providing approximately $3.3 billion in small business loans, thus impacting 360,000 jobs. BBVA USA's swift development of an online loan application in just three days showcases its resilience during the pandemic. This recognition reflects the bank's commitment to supporting U.S. businesses and maintaining operational excellence amidst challenging conditions.
- Recognized as a 'Standout' bank by Greenwich Associates.
- Processed over 22,000 applications, funding approximately $3.3 billion in small business loans.
- Impact on around 360,000 jobs through funding efforts.
- Developed online PPP loan application in just three days.
- None.
HOUSTON, Aug. 5, 2020 /PRNewswire/ -- In what has been a steady flow of awards from Greenwich Associates, BBVA USA was recently recognized by the financial industry research firm for its response to the COVID-19 pandemic.
The bank was highlighted in the firm's Standout Banks Amid Crisis list for the second quarter in the Middle Market Banking category. The honor was given to banks that found ways to make it easy for companies to do business during the ongoing health crisis.
"When looking back at the start of the pandemic, and the uncertainty it brought to U.S. businesses, then add the challenges that our own operation faced, it amazes me what our team did in such a short amount of time," said BBVA USA Chief Operating Officer Rafael Bustillo. "Our employees stepped up to not only face the situation, but adapt to it. These businesses are the backbone of the U.S. economy, and our team's tireless work yielded successful results for a vast number of companies that are still in operation because of it."
BBVA USA's work surrounding the Small Business Administration's (SBA) Paycheck Protection Program was a key cog in its response to the COVID-19 situation, which included funding approximately
In addition to those results, more than 200 employees from across the commercial, wealth and retail lines of business — from administrative assistants to relationship managers — volunteered their time to help process applications for those funds. On the digital side of the bank's response, the bank developed its online PPP loan application in just three days, when developing a new online application would ordinarily require up to a year of planning, development and deployment.
The new recognition from Greenwich came after the firm identified only a select number of banks that were "viewed by their commercial banking clients as 'Standouts' in their response." Clients gave their thoughts in the latest Greenwich Market Pulse Study that was published in late July.
In the past few years, BBVA USA has made frequent appearances in Greenwich's list of awards, including a pair of middle market and small business banking honors for its West Region in early 2020, a customer experience award in middle market banking in 2019, a small business award in proactivity in 2018, and a wealth management recognition in 2016.
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About BBVA
BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, and has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey's Garanti BBVA. BBVA's purpose is to bring the age of opportunities to customers by providing the best solutions and helping them make the best financial decisions through an easy and convenient experience. The institution's responsible banking model aspires to achieve a more inclusive and sustainable society. BBVA rests on three solid values: customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.
BBVA USA
In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 14th nationally in terms of dollar volume of SBA loans originated in fiscal year 2019.
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SOURCE BBVA USA
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