Banco Popular Español

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Banco Popular Español S.A.
Type Public (BMAD: POP; Euronext: BPE)
Founded 1926
Headquarters Madrid, Spain
Key people Ángel Ron (Chairman of the board), Roberto Higuera (CEO)
Industry Financial services
Products Banking and insurance
Operating income ▲ €1.313 billion (2008)[1]
Profit ▲ €1.052 billion (2008)[1]
Total assets €110.4 billion (2008)[1]
Employees 15,070 (2008)[1]
Website www.bancopopular.es

Banco Popular Español, (BMAD: POP; Euronext: BPE) is the third largest banking group in Spain. The group consists of the following companies:

[edit] History

  • 1926: Founding of Banco Popular Español (BPE).
  • 1968: BPE opens a representative office in Paris that became a subsidiary that by 1991 had a network of 14 branches in France.
Banco Popular Español premises in Madrid
  • 1992: BPE converts its subsidiary in France into a joint venture with Banco Comercial Portugués under the name Banco Popular Comercial.
  • 2000: BPE establishes a network of branches in Portugal.
  • 2002: BPE and Banco Comercial Portugués part ways; Banco Popular Comercial becomes a wholly owned subsidiary of Banco Popular and changes its name to Banco Popular France. In Portugal, Banco Popular buys Banco Nacional de Crédito (BNC) and transfers its existing branches there to BNC. Later, in 2005, BNC changed its name to Banco Popular Portugal.
  • 2007: BPE bought a small bank in Southern Florida (United States of America) called TotalBank for US$300 million.[2] The bank has 14 branches in Miami Dade County and 250 employees.

[edit] References

  1. ^ a b c d "Annual Report 2008" (PDF). Banco Popular Español. http://www.englishbancopopular.es/pdf/ANNUAL%20REPORT%202008.pdf. Retrieved 2009-04-30. 
  2. ^ Bjork, Christopher (2007-07-11). "Spain's Banco Popular to buy U.S. TotalBank for $300 mln". MarketWatch. http://www.marketwatch.com/story/spains-banco-popular-to-buy-us-totalbank-for-300-mln. Retrieved 2009-12-06. 

[edit] External links

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