On Bauer Business Focus — A conversation on the Eurozone financial crisis with Andrew Schneider, business reporter for KUHF 88.7 FM.
As the Eurozone faces a financial crisis similar to the U.S. financial downturn in 2008, many U.S. and international bank’s futures may be in danger.
Manolo Sanchez, BBVA Compass CEO, stopped by Bauer Business Focus recently to discuss how BBVA Compass has fared during the Eurozone crisis.
“BBVA is very diversified internationally,” Sanchez said. “BBVA Spain represents about 20% of the bottom line and therefore out-of-the-way of the crisis. BBVA Spain saw this crisis coming and really slowed down its lending machine to prevent any problems.”
While BBVA Spain has prepared for the worst, BBVA Compass, the U.S. sector, has fared equally as well according to Sanchez.
“People recognize their banks are strong so they navigate fairly well throughout the crisis. The U.S. operation of BBVA, which is BBVA Compass, is home to roughly 1,400 employees in Houston and all that is completely isolated from the situation in Spain.”
Click here to hear the full interview.