Founded on October 14, 1886, in Buenos Aires as Banco Francés del Río de la Plata (English: French Bank of the River Plate), it is the oldest private bank in Argentina. Its Beaux-Arts headquarters, designed by Jorge Bunge, were inaugurated in 1926.
Morgan Guaranty Trust acquired a 50% share in the bank in 1968, though the New York-based bank sold most of these to Alpargatas, a leading local industrial firm, a decade later.[3]
Despite the nation's economic woes during the 1980s, the Banco Francés expanded from 15 branches to 62 during the decade, and entered into a joint venture with Bankers Trust Company in 1986. Alpargatas sold its stake to local developer Eduardo Constantini in 1991, and entered into a second joint venture with Merrill Lynch in 1992.
In December 1996, Spain's Banco Bilbao Vizcaya, (now Banco Bilbao Vizcaya Argentaria), acquired the 99.9% of the common shares of Otar S.R.L., which was a major shareholder of Sud América Inversiones S.A., and holder of over 30% of the capital of Banco Francés, hence the BBVA in its name.[3]
As of December 2013[update] BBVA was the fifth-largest bank in Argentina and the third-largest private one, with deposits of US$6.7 billion and a lending portfolio of US$5.4 billion a(a roughly 6% domestic share in both areas). It maintained 245 branches and almost 1,400 ATMs in Argentina, and employed around 5,200 staff.[4] The bank announced in 2013 it would relocate its headquarters to the Consultatio Tower, in the Catalinas Norte office park, upon the Tower's completion in 2015.[5]
In 2019, BBVA unified its brand worldwide and BBVA Francés was renamed BBVA.[6]
Referencesedit
^"BBVA BANCO FRANCES SA-ADR (BFR:New York): Financial Statements". Businessweek. Archived from the original on January 18, 2013. Retrieved 2014-11-15.
^ abc"EEFF Banco BBVA Argentina S.A." (PDF). bolsar.info (in Spanish). Retrieved 19 October 2023.
^ ab(PDF) (in Spanish). Archived from the original (PDF) on 2012-03-01. Retrieved 2012-07-07.
^"ABA Ranking" (xls). ABA Argentina.com. December 2013.
^"El BBVA Francés pagó $ 1.200 millones y se quedó con la nueva torre de Costantini". Cronista. 12 July 2013.
^"BBVA to unify its brand worldwide, changes its logo" (Press release). PR Newswire. December 24, 2019.
bbva, argentina, formerly, bbva, banco, francés, financial, institution, argentina, banco, bank, headquarters, buenos, airescompany, typesociedad, anónimatraded, asbcba, bbar, nyse, bbar, bmad, xbrf, merval, componentindustryfinancial, servicesfounded14, octob. BBVA Argentina formerly BBVA Banco Frances is a financial institution in Argentina Banco BBVA Argentina S A Bank headquarters in Buenos AiresCompany typeSociedad AnonimaTraded asBCBA BBAR NYSE BBAR BMAD XBRF MERVAL componentIndustryFinancial servicesFounded14 October 1886 137 years ago 1886 10 14 HeadquartersBuenos Aires ArgentinaKey peopleJorge Carlos Bledel CEO ProductsBanking InsuranceRevenueUS 1 3 billion 2013 1 Net incomeUS 177 204 953 2021 2 Total assetsUS 8 626 676 2021 2 Number of employees5 852 2021 2 ParentBanco Bilbao Vizcaya ArgentariaWebsitebbva com arHistory editFounded on October 14 1886 in Buenos Aires as Banco Frances del Rio de la Plata English French Bank of the River Plate it is the oldest private bank in Argentina Its Beaux Arts headquarters designed by Jorge Bunge were inaugurated in 1926 Morgan Guaranty Trust acquired a 50 share in the bank in 1968 though the New York based bank sold most of these to Alpargatas a leading local industrial firm a decade later 3 Despite the nation s economic woes during the 1980s the Banco Frances expanded from 15 branches to 62 during the decade and entered into a joint venture with Bankers Trust Company in 1986 Alpargatas sold its stake to local developer Eduardo Constantini in 1991 and entered into a second joint venture with Merrill Lynch in 1992 In December 1996 Spain s Banco Bilbao Vizcaya now Banco Bilbao Vizcaya Argentaria acquired the 99 9 of the common shares of Otar S R L which was a major shareholder of Sud America Inversiones S A and holder of over 30 of the capital of Banco Frances hence the BBVA in its name 3 As of December 2013 update BBVA was the fifth largest bank in Argentina and the third largest private one with deposits of US 6 7 billion and a lending portfolio of US 5 4 billion a a roughly 6 domestic share in both areas It maintained 245 branches and almost 1 400 ATMs in Argentina and employed around 5 200 staff 4 The bank announced in 2013 it would relocate its headquarters to the Consultatio Tower in the Catalinas Norte office park upon the Tower s completion in 2015 5 In 2019 BBVA unified its brand worldwide and BBVA Frances was renamed BBVA 6 References edit BBVA BANCO FRANCES SA ADR BFR New York Financial Statements Businessweek Archived from the original on January 18 2013 Retrieved 2014 11 15 a b c EEFF Banco BBVA Argentina S A PDF bolsar info in Spanish Retrieved 19 October 2023 a b Banco Frances historia PDF in Spanish Archived from the original PDF on 2012 03 01 Retrieved 2012 07 07 ABA Ranking xls ABA Argentina com December 2013 El BBVA Frances pago 1 200 millones y se quedo con la nueva torre de Costantini Cronista 12 July 2013 BBVA to unify its brand worldwide changes its logo Press release PR Newswire December 24 2019 External links editOfficial website nbsp Portals nbsp Banks nbsp Argentina nbsp Companies 34 36 21 S 58 22 19 5 W 34 60583 S 58 372083 W 34 60583 58 372083 Retrieved from https en wikipedia org w index php title BBVA Argentina amp oldid 1181446100, wikipedia, wiki, book, books, library,
