BBVA will focus on sustainable goods and lower rates

The president of BBVA announced better financing conditions in several products that comply with social and environmental parameters.

Financial products with a positive environmental impact such as UVR and peso mortgage loans for families; housing leasing; financing for builders who develop projects of this type and the acquisition of electric cars and motorcycles will have more advantageous financing conditions with the BBVA bank.

That was explained by the bank’s president, Mario Pardo Bayona, who said that one of the bank’s strategic axes “is sustainability, and as a further step in that direction, we are announcing a portfolio aimed at promoting initiatives for the construction of sustainable housing, aware of the positive impact generated by this type of construction, and in the case of vehicles, we seek to promote environmentally friendly mobility.”

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BBVA is fully committed to ESG

Bayona announced that “the significant discounts on interest rates” seek to encourage “customers to make a difference in their commitment to the future of the planet.”

The loans for builders will also be aimed at housing projects that are sustainable and meet these indicators in the environment and on site, with energy efficiency and care in the use of water, among others.

In this case, the offer for credits in pesos and UVR will have a discount of up to -100 basic points (one percentage point) in the rate.

In the case of credits for the acquisition of housing in projects certified as sustainable, the entity will offer financing options with a discount of up to 180 basic points (1.8 percentage points) with terms of up to 30 years.

Homebuyers will also have the option of sustainable housing leasing in pesos at a rate of 8.2% with a discount of up to 200 basic points (2 percentage points), terms of up to 30 years and a purchase option between 0% and 30%.

The same will apply to credits for hybrid or electric cars and motorcycles

In the case of automobiles, the interest rate is the lowest in the market, with discounts of up to 600 basic points (6 percentage points) as compared to traditional vehicle financing. As for electric motorcycles, the bank offers the option of financing up to 90% of its value.

This announcement is in addition to the actions that BBVA has been developing, supporting initiatives focused on advancing the UN’s Sustainable Development Goals.

Among the bank’s other sustainable projects is the approval of credits for advance payment to rural suppliers; the issuance of a line of green guarantees for $13.4 billion (290 billion pesos) in favor of China Harbour Engineering for the construction of the first line of the Bogotá Metro. It will also issue a guarantee in favor of MinTIC for the execution of one of the blocks of the radioelectric spectrum by the company Tigo that will allow 1.3 million people to have access to the internet and 1,600 municipalities to 4G cellular telephony; it also made a loan to the Corporación Autónoma Regional de Cundinamarca for the recovery of the Laguna de Fúquene, among others.

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