BBVA has sold a $350m revolving credit facility to Singapore-based Olam International whose interest rate will decline as the borrower makes progress against a set of 32 digital business milestones.
“What we are increasingly seeing is that the more digitally advanced a business is, the better it performs, both financially, but also in terms of key metrics like staff engagement, customer acquisition and reduced attrition,” said Ricardo Laiseca, BBVA’s head of global finance. “We see the development of these digital loan facilities as a way to tangibly support and encourage other businesses to evolve as we have done,” Mr Laiseca said. BBVA has long professed the goal of becoming not just a digital bank but a “digital company”.
https://www.ft.com/content/08ed84fa-5270-11e9-9c76-bf4a0ce37d49