Top Banks in Spain
Major banks of Spain
Spain is now a developed country, with the fourth-highest nominal GDP in the European Union and 14th in the world.
Its modern banking system has been relatively mature; its banking system includes a central bank, commercial banks, savings banks, and investment banks.
The country's central bank is Banco de España. Established in 1782, the bank is the national authority responsible for banking supervision in the country.
The governing structure of the bank can be composed of the: Governor, Deputy Governor, Governing Council, and Executive Commission. The Spanish monarch appointed the governor directly to a non-renewable six-year term.
The bank is also responsible for controlling and managing the country's foreign exchange reserves and implementing the eurozone monetary policy. Today, the bank is a member of the European System of Central Banks.
Banco Santander
Santander was founded in 1857. It is a Spanish multinational financial services company headquartered in Santander, Spain. Santander is now the largest bank in the country and the fourth-largest in Europe.
Santander has 11,952 branches in Europe, North America, and South America. It is now expanding its service to mainland Asia. They have a presence in every financial center in the world. It's the most important bank in the country.
According to the 2021 S&P Global Market Intelligence Report, Santander is ranked 16th among the world's top 100 banks, with total assets of US $1,072.61 billion. Additionally, in 2020, Santander ranked 78th in Forbes 2020 Top 100 Global Brands by value.
The company has nearly 200,000 employees in deposit products, mobile banking, investment companies, custody services, and other businesses. Santander is also a member of the Euro Stoxx 50 Stock Market Index. So there is no doubting its importance in Spain or Europe.
Banco Bilbao Vizcaya Argentaria
Banco Bilbao Vizcaya Argentaria was founded in 1857 as Banco de Bilbao. Banco de Bilbao and Banco de Vizcaya merged in 1989 under the name BBV. Then, in 1999, BBV merged with Argentaria to create the current brand Banco Bilbao Vizcaya Argentaria.
Now the bank is one of the leading banks in the country. It ranks second only to Santander in the Spanish banking industry.
Its headquarters are in Bilbao, in the Basque Country. Banco Bilbao Vizcaya Argentaria's activities include retail banking, asset management, and private banking. Its business comprises Spain, South America, North America, Turkey, and other countries and regions. In 2021, BBVA's recurring profit reached €5.07 billion.
According to the Banker's list of the world's Best 1000 banks, BBVA is ranked 35th. Based on 2021 data, BBVA's total assets reached €662.68 billion.
The total number of employees worldwide is more than 110,000. BBVA is a global financial company that provides financial services to 80 million customers. In 2018, BBVA began using blockchain technology to make loans to customers.
CaixaBank
CaixaBank was founded in 2007 as Criteria CaixaCorp. It was listed on the Madrid Stock Exchange in Spain in the same year. Its initial public offering was the country's biggest ever. In 2011, the company was restructured, and CriteriaCorp was renamed CaixaBank.
The company's business scope includes comprehensive banking, insurance, and investments. In addition, CaixaBank now has 5,397 branches, and the company has more than 40,000 employees serving more than 15 million customers.
CaixaBank now has 5,397 branches, and the company has more than 40,000 employees serving more than 15 million customers. CaixaBank is headquartered in Valencia. In addition, the company has subsidiaries or offices in many countries as a multinational financial services company.
Commercial banks or enterprises provide services for the foreign trade of many countries. CaixaBank is now the country's third-biggest bank. According to Forbes, it will be ranked 273rd in the world's Top 2000 companies in 2022.
Banco Sabadell
Banco Sabadell is a multinational financial services company. The bank's headquarters are in Barcelona. The bank's current business includes investment management, insurance, etc.
Banks' main customers are small and medium-sized businesses and the wealthy. The bank was founded in 1881 by 127 business people in Barcelona. In its early days, the bank financed local industrial enterprises and helped them supply some industrial raw materials.
These operations ended in 1907 when the bank closed all non-bank operations and concentrated solely on its banking activities. As the business grew, the bank expanded to other cities in 1965.
In 1978, the bank successfully opened the first branch of its international network in London, England. Then, in 1986, Banco Sabadell started remote banking. That made the bank a pioneer in computing among Spanish banks.
In 2001, the bank was successfully listed on the Madrid Stock Exchange. Over the next decade, the bank began an expansion phase. Successful mergers and acquisitions of many financial companies, such as Banco Herrero, TransAtlantic Bank, and Banco Gallego.
The successful expansion of the banking group has made it one of the largest banking groups in Spain. The bank now has more than 18,000 employees, and its revenue in 2021 reached 6.01 billion.
Bankinter
Bankinter is a financial services company. Its headquarters are in Madrid. The company was founded in 1965 through a joint venture between Banco Santander and BankAmerica. Bankinter was founded as an industrial bank.
In 1972, the bank became independent from its founders and became a commercial bank. It was listed on the Madrid Stock Exchange in the same year. In the years that followed, Bankinter set up telephone and internet banking to give its customers easier access to business.
Because of its outstanding business performance and large business network, it was named the best bank in the country by Banker magazine in 2010. In 2015, Bankinter expanded its banking network into Portugal by acquiring Barclays' retail operations.
Bankinter now has 446 offices and more than 6,000 employees worldwide. The main business includes retail banking, commercial banking, investment banking, online services, etc. In 2021, the bank's revenue reached 2.763 billion.
Unicaja Banco
Unicaja Banco is a savings bank. The company was founded in 1991, and its headquarters are in Malaga. The merger of five different banks formed the bank.
The company's business includes foreign exchange, personal loans, online banking, insurance, asset management, etc. In 2017, Unicaja Banco was successfully listed on the Madrid Stock Exchange.
At present, the bank operates only in the country. But the bank operates in 80% of its territory. Now Unicaja Banco has about 1,400 branches across the country. The company now has more than 9,700 employees serving more than 4.5 million customers nationwide.
The bank provides its customers with diversified and high-quality services. Unicaja Banco's annual revenues exceed 1.7 billion, and the company's total assets exceed 131 billion. Unicaja Banco is ranked 1092 according to Forbes's 2022 Top 2000 Global Companies.
Kutxabank
Kutxabank is a bank based in Bilbao. The bank was established in 2012 by merging three financial institutions: Bilbao Bizkaia Kutxa, Gipuzkoa Donostia Kutxa, and Caja Vital Kutxa.
The company's business includes the insurance business, investment banking business, and commercial banking business. At present, the bank mainly operates in Andalusia and Extremadura.
The operation model of the bank is centered on the local banking model to achieve economies of scale and sustainable profits. Kutxabank is a human-centered entity company aiming at economic and social development.
Kutxabank even promised to return some of its recurring profits to society. In addition, the bank has a regional franchise in the Basque Country and a large business network. This provides banks with diversification and stable income.
Kutxabank Made an annual profit of €216.5 million in 2021. Total Bank Assets exceed €58.3 billion. Kutxabank is now one of the largest banks in Spain.
Abanca
ABANCA Corporation Bancaria is a bank that provides financial services. The bank was founded in 2011 as NCG Banco. The bank was set up after the "bankisation" of Novacaixagalicia Savings Bank in 2011.
In 2012, NCG Banco's brand EVO Banco operated its assets outside Galicia. This has made EVO Banco attractive to many investors. In 2013, the bank sold EVO Banco to Apollo Global Management.
In November of that year, NCG Banco began the privatization process and sold a large stake in NCG Banco to Banco Etcheverria. In 2014, NCG Banco merged with Banco Etcheverria. And changed its name to ABANCA Corporacion Bancaria, as it remains to this day.
It later expanded its business presence by buying Deutsche Bank's private and commercial operations in Portugal. Today ABANCA operates in Spain and Portugal. The bank also has offices in 10 countries in Europe and the Americas.
With over 6,000 employees worldwide, the company serves 2.2 million corporate and personal customers.
Ibercaja Banco
Ibercaja Banco was founded in 2011 and is now based in Zaragoza. It was founded as a savings bank in 1873. The bank was renamed "Caja de Ahorros y Monte de Piedad de Zaragoza" in 1933.
Over the next few decades, the bank expanded outward, opening 368 branches across the country. First, the bank changed its name again to "Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja." The bank then expanded throughout the country.
Then in 2011 Ibercaja Banco was founded. In 2014, the banking industry was restructured, and Banco Grupo Caja 3 was integrated into Ibercaja Banco. As a result, Ibercaja Banco is now one of the country's biggest banking groups.
It has 914 branches and more than 5,000 employees nationwide. The company's financial services include investment funds, savings, insurance, etc.
The company provides wealth value-added services for 2.6 million customers in this country with high-quality services.
Banca March
Banca March is a financial services company in Spain. The company's business includes various financial services, including retail banking, private banking, and investment banking. The company is headquartered in Parma.
Founded in 1926, the company has a history of more than 90 years. The bank initially did business only in Mallorca. After 1974, the bank began to expand outward. The banking group now has commercial banks or offices in Madrid, Barcelona, and the United Kingdom.
In 2010, the bank was rated as the most solvent bank in Europe by the European Union Bank Stress Test due to its very low delinquency rate. In addition, it is now the only Spanish bank that is 100% family-owned.
The bank currently employs 1,300 people serving its clients in offices worldwide. As of 2021, the bank's total assets reached €15.57 billion. The banking group has a turnover of about €20 billion.
Conclusion
Spanish history began in Iberian prehistory, during the rise and fall of the Spanish empire. Today Spain is a medium-developed country and one of the members of the European Union.
The country now has a high level of social welfare, such as free medical care and unemployment benefits for those who pay social insurance. In addition, children enjoy free education in public schools. The country's GDP per head now stands at nearly $30,000.
The unemployment rate in the country is currently around 13.6, despite the impact of the previous economic crisis in recent years and the economic hit from COVID-19. But as the pandemic has slowly improved, so has Spain's tourism revenue.
According to the 2021 report of the International Monetary Fund, the country's GDP reached $1,439,958 million. Therefore, Spain's industrial level is already the level of developed countries; its industrial system is complete. This guarantees Spain's economic future.
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