Company:BBVA Argentina
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_II.JPG) Bank headquarters in Buenos Aires | |
| Type | Sociedad Anónima |
|---|---|
| BCBA: BBAR NYSE: BBAR Template:Bmad MERVAL component | |
| Industry | Financial services |
| Founded | 14 October 1886 |
| Headquarters | Buenos Aires, Argentina |
Key people | Jorge Carlos Bledel (CEO) |
| Products | Banking, Insurance |
| Revenue |  US$1.3 billion (2013) [1] |
| US$177.204,953 (2021)[2] | |
| Total assets | US$8.626.676 (2021) [2] |
Number of employees | 5,852 (2021) [2] |
| Parent | Banco Bilbao Vizcaya Argentaria |
| Website | bbva.com.ar |
BBVA Argentina, formerly BBVA Banco Francés, is a financial institution in Argentina .
History
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 City -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 ) 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]
References
- ↑ "BBVA BANCO FRANCES SA-ADR (BFR:New York): Financial Statements". Businessweek. http://investing.businessweek.com/businessweek/research/stocks/financials/financials.asp?ticker=BFR:US.
- ↑ 2.0 2.1 2.2 "EEFF Banco BBVA Argentina S.A." (in es). https://ws.bolsar.info/descarga/pdf/402022.pdf.
- ↑ 3.0 3.1 "Banco Francés: historia" (in es) (PDF). https://www.bancofrances.com.ar/fbin/HistoriaBBVABancoFrances_tcm235-73134.pdf.
- ↑ "ABA Ranking" (xls). ABA Argentina.com. December 2013. http://www.aba-argentina.com/wp-content/uploads/Ranking-Diciembre-2013.xls.
- ↑ "El BBVA Francés pagó $ 1.200 millones y se quedó con la nueva torre de Costantini". Cronista. 12 July 2013. http://www.cronista.com/negocios/El-BBVA-Frances-pago--1.200-millones-y-se-quedo-con-la-nueva-torre-de-Costantini-20130712-0070.html.
- ↑ "BBVA to unify its brand worldwide, changes its logo" (Press release). PR Newswire. December 24, 2019.
External links
[ ⚑ ] 34°36′21″S 58°22′19.5″W / 34.60583°S 58.372083°W
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