BBVA Argentina, formerly BBVA Banco Francés, is a financial institution in Argentina.

History

Founded on 14 October 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.[2]

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.[2]

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.[3] In 2017, the bank once again relocated its headquarters in the newly built Torre BBVA.[4]

In 2019, BBVA unified its brand worldwide and BBVA Francés was renamed BBVA.[5]

In 2023, BBVA Argentina had 243 branches (56 of them digital and 24 fully digital), 895 ATMs, and 861 ATSs across the country.[6]

References

  1. ^ a b c d "BBVA Argentina Presentación Corporativa 4T23 & 2023" (in Spanish). Retrieved 19 July 2024.
  2. ^ a b "Banco Francés: historia" (PDF) (in Spanish). Archived from the original (PDF) on 1 March 2012. Retrieved 7 July 2012.
  3. ^ "El BBVA Francés pagó $ 1.200 millones y se quedó con la nueva torre de Costantini". Cronista. 12 July 2013.
  4. ^ "BBVA Tower in Buenos Aires, a digital totem powered by human energy". bbva.com (in Spanish). BBVA Argentina. 17 April 2017. Retrieved 23 September 2024.
  5. ^ "BBVA to unify its brand worldwide, changes its logo" (Press release). PR Newswire. 24 December 2019.
  6. ^ "Memoria Anual. Reporte integrado Argentina 2023" (PDF) (in Spanish). p. 9.

34°36′21″S 58°22′19.5″W / 34.60583°S 58.372083°W / -34.60583; -58.372083

Allikas: https://en.wikipedia.org/wiki/BBVA_Banco_Franc%C3%A9s
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