Banco Frances is the oldest private bank in Argentina. Banco Frances is headquartered in Buenos Aires, Argentina. Banco Frances offers financial services to Argentine costumers.
Banco Frances founded on October 14, 1886, in Buenos Aires as Banco Francés del Río de la Plata (English: French Bank of the Silver River). In 1968, Morgan Guaranty Trust acquired a 50% share in the bank. Then New York-based bank sold most of these to Alpargatas, a leading local industrial firm, a decade later.
Banco Francés expanded from 15 branches to 62 during the decade, and had entered into a joint venture with Bankers Trust Company in 1986. Alpargatas sold its stake to local developer Eduardo Constantini in 1991. Then in 1992, it entered into a second joint venture with Merrill Lynch.
Banco Frances aquired by Spain's Banco Bilbao Vizcaya (now Banco Bilbao Vizcaya Argentaria) in December 1996. They 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.
Now, BBVA Banco Frances is the third-largest bank in Argentina, with deposts of US$5 billion and a lending porfolio of US$3.5 billion (a roughly 7% domestic share in both areas). It maintains 630 branch around Argentina.
Banco Frances has revenue increase US$ 800 million as of 2009 and total assets increase US$ 6.6 billion in the 2008. Jorge Carlos Bledel, (CEO) is the key people of Banco Frances. You can visit Banco Frances’s website at www.bancofrances.com.ar for more information abut the bank.
0komentar:
Posting Komentar