BBVA Bancomer of Mexico City, Mexico won the Stevie Award for Corporate Social Responsibility Program of the Year in Mexico, Central and South America in The 2011 International Business Awards. They and other IBA11 honorees will be celebrated at a gala event at the Emirates Palace Hotel in Abu Dhabi, UAE on 11 October - tickets are now on sales.
Here we take a closer look at their winning program.
BBVA Bancomer is committed to generating options for a better future for Mexico. Through its BBVA Bancomer Foundation, the company has developed a grant program, “Por los que se quedan”—literally, “for those who remain”—an initiative that seeks to support development-oriented formal education for children of Mexican communities that traditionally had high emigration.
“In BBVA Bancomer we are deeply committed to supporting the education of children and young people in Mexico,” said Ignacio Deschamps González, Chairman and CEO of BBVA Bancomer Mexico. “We believe that education is a powerful tool to generate positive changes in our society. Our aim is to encourage promising students in Mexico to remain in school. By providing the stability and continuity of their education, we believe more of our young people will stay and work in Mexico.”
Educational and Personal Development
The program consists of providing a monthly stipend or grant that enables the student to continue with his or her junior high school studies and, perhaps, even helps out the student’s family. In addition to the stipend, volunteer BBVA Bancomer employees—known as “Godfathers” and “Godmothers”—track each student’s progress throughout the school year, provide advice, and support the students’ efforts. This in turn helps to motivate the students’ progress and allows them to be successful in both educational and personal development.
“The participation of BBVA Bancomer employees as mentors is an innovative approach to motivate our students and prevent their dropping out of school,” said Deschamps. “At the same time, the efforts of our BBVA Bancomer mentors contribute directly to improving our young people’s self-esteem and view of their future and, therefore, in a way, they are contributing to Mexico’s development too.”
Increasing Investment
The BBVA Bancomer Foundation intends this initiative to strengthen the communities where many become migrants while at the same time encouraging educational continuity and academic excellence. The bank aims to create co-responsibility and alliances in these regions, and ultimately to generate more opportunities for growth and educational development.
Launched in 2006, the project by 2010 had reached 143 municipalities in 18 states across Mexico. The bank had allocated a total of $530 million Mexican pesos (approx US $44.2 million) to the project since 2006. In 2010, the bank allocated a total of $173,624,861 Mexican pesos (approx US $14.5 million) to the project. Some 693 employees from 183 branches of BBVA Bancomer have participated as mentors for the students over the past four years.
To date, the program has benefited 25,600 students around Mexico.
A Better Future
Through this form of economic support, the recipients of the grants have a much better chance of completing their education and finding better jobs in the future. A better education, in turn, contributes to higher self-esteem and motivates the student to continue on to a higher level of education.
According to a survey of 302 students from the class of 2009, 21 intended to continue studying to get their high school diploma, 124 wanted to obtain a Bachelor’s degree, 36 would like to have a Masters degree, and 113 were aiming for a Doctorate.
Ultimately, these grants will help students to put down roots in their own regions. Fewer students will leave school early, and, potentially, fewer will migrate to the north.
Looking Ahead
BBVA Bancomer Foundation expects its grant program to benefit 5,000 new students every year. It will also support further education for the most promising students in the “Por los que se quedan” program, providing funding for technical studies and high school. The Foundation’s hope is that the program will ultimately contribute to stability for, and the retention of, students who have achieved a better level of education. The Foundation has redoubled its efforts to procure enough funds to maintain this program at its current rate of growth and, perhaps, in the near future, will offer further educational opportunities for even more high-achieving children in these communities.
“We are proud that our grant program has been recognized by The Stevie Awards,” said Deschamps. “This award also encourages all those employees of BBVA Bancomer who help out in this program by mentoring the students who benefit from it.”
About Ignacio Deschamps González
Ignacio Deschamps González is the Chairman & CEO of BBVA Bancomer Mexico. He joined the company in 1993 and has held various positions, including Mortgage Bank Director, Products Director, and Business Development Director.
Before joining BBVA Bancomer, Deschamps worked at the National Bank for Foreign Trade (Bancomext) as Investment Bank Executive Director. Prior to that, he worked for the Inter-American Development Bank in Washington, D.C.
Ignacio Deschamps González is a graduate of Mexico City National Polytechnic Institute, where he earned a degree in Industrial Engineering. He also received a Master’s degree in Engineering Administration from George Washington University in Washington, D.C.
About BBVA Bancomer
The BBVA Bancomer Group offers a broad range of financial products and services through its extensive network. It conducts its core activities through BBVA Bancomer Bank, Mexico’s largest bank in terms of deposits, loan portfolio, number of ATMs, and number of branches. The Group is a subsidiary of Banco
Bilbao Vizcaya Argentaria, one of Europe's leading financial groups.
For more information about the “Por los que se quedan” program or any of the other activities of the BBVA Bancomer Foundation, please contact Erika Ruiz Sandoval, International Strategic Alliances, BBVA Bancomer Foundation, PH +52 55 5621 2135, or e-mail erika.ruiz.1@bbva.bancomer.net.
Here are highlights of what's new and different for the 2011 IBAs.