Company:BBVA Francés
 | |
| Type | Sociedad Anónima |
|---|---|
| BCBA: FRAN NYSE: BFR Template:Bmad | |
| Industry | Financial Services |
| Founded | 1886 |
| Headquarters | Buenos Aires, Argentina |
Key people | Jorge Carlos Bledel (CEO) |
| Products | Banking, Insurance |
| Revenue |  US$1.3 billion (2013) [1] |
| US$586 million (2013)[1] | |
| Total assets | US$9.1 billion (12/2013)[1] |
Number of employees | 5,200 |
| Parent | Banco Bilbao Vizcaya Argentaria |
| Website | bbvafrances.com.ar |
BBVA Francés, 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.[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]
(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.[3] 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.[4]
References
- ↑ 1.0 1.1 1.2 "BBVA BANCO FRANCES SA-ADR (BFR:New York): Financial Statements". Businessweek. http://investing.businessweek.com/businessweek/research/stocks/financials/financials.asp?ticker=BFR:US. Retrieved 2014-11-15.
- ↑ 2.0 2.1 "Banco Francés: historia }" (in es) (PDF). Archived from the original on 2012-03-01. https://web.archive.org/web/20120301184953/https://www.bancofrances.com.ar/fbin/HistoriaBBVABancoFrances_tcm235-73134.pdf. Retrieved 2012-07-07.
- ↑ "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.
External links
[ ⚑ ] 34°36′21″S 58°22′19.5″W / 34.60583°S 58.372083°W
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