Banco Regional named ‘Best Bank of Paraguay 2013’

Banco Regional has been awarded the title of ‘Best Bank of Paraguay 2013’. This is the second time the bank has won this extremely prestigious title that forms part of the ‘Awards for Excellence’ presented by Euromoney.

The bank’s customer-focussed approach is hallmarked by strong personal relationships and intimate knowledge of agricultural processes. Kees Beijer, Vice President of the Board of Banco Regional, explains that this focus on customers and knowledge is key to the bank’s success: ‘This award recognises the hard work and commitment of our employees to continuously improve the services we provide to our customers.’

Raúl Vera, President of the Board of Banco Regional, comments both the dedication of the employees and the working relationship with Rabobank: ‘In addition to our employees, I would also like to recognise the strategic partnership with Rabobank as an important asset that makes our bank different from our competitors. Local knowledge and customer focus, combined with Rabobank’s best banking practices make us confident that we will be able to continue on our growth path, particularly in the retail market.’

Banco Regional was founded in 1991 by farmers as a regional bank centred around Encarnación and primarily active in the farming communities in the southwest of Paraguay. The bank focusses in this region on supporting and financing farming businesses and cooperatives in areas neglected by other financial institutions.

Rabobank acquired a 40 percent strategic minority interest in Banco Regional in 2008 and supported the acquisition of ABN AMRO’s Paraguayan business in 2009 that resulted in the formation of Paraguay’s largest food and agri bank. Banco Regional is now combining its own heritage with a wider focus on small and medium-sized businesses outside agriculture. The bank is strengthening its operations across the entire business community and is expanding into all areas of retail and wholesale banking.

Rabobank is supporting this development curve by providing technical assistance, deploying credit specialists from Rabobank and providing training to Banco Regional staff. Rabo Development is furthermore assisting Banco Regional to build a proposition for agri-value chain financing and a strategy designed to position it as the leader in nationwide full-service banking for all customer segments.

Being awarded the title of ‘Best Bank of Paraguay 2013’ affirms the success of the bank’s chosen strategy and recognises the excellence of the employees who put it into practice every day.

Kees Beijer, Investment Manager RD kees.beijer@rabobank.nl or Joris Timmers Project Manager RD  joris.timmers@rabobank.nl