BBVA points to negative net inflows for its home-market private banking biz. Bilbao, Spain-based Banco Bilbao Vizcaya Argentaria (BBVA), sees better prospects for growth in wealth management in Latin America than in its home market.

"Latin America has more growth potential for BBVA in high net worth individuals than Spain, as the economies in the region are growing," BBVA's CIO Enrique Marazuela told Reuters last week.

Asia too

BBVA's private-banking business has seen net outflows in Spain as a result of a depressed real-estate market, according to Marazuela.

The BBVA executive identified Brazil, Chile and Mexico as particularly lucrative wealth-management markets.

BBVA is also looking to expand its presence in Asia using its joint venture with Beijing-based CITIC as a springboard.

Birmingham, Ala.-based Compass Bank is a subsidiary of BBVA. -FWR

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