BBVA Banco Francés is an Argentine-based financial institution. BBVA is the third-largest bank in Argentina. Recently, reported that BBVA Banco Frances SA (FRAN) increased 3.2 percent to 16.1 pesos.
Also reported that the unit of Spain’s Banco Bilbao Vizcaya Argentaria SA sold its 66 percent stake in insurance company Consolidar Compania de Seguros de Retiro SA for 380 million pesos. The report is according to a statement posted on the website of the Buenos Aires stock exchange.
BBVA Banco Francés was started on October 14, 1886, in Buenos Aires as Banco Francés del Río de la Plata. BBVA Banco Francés is the oldest private bank in Argentina. Banco Francés expanded from 15 branches to 62 during the decade, and had entered into a joint venture with Bankers Trust Company in 1986.
Banco Francés hence the BBVA in its name since Banco Bilbao Vizcaya Argentaria hold of over 30% of the capital of Banco Francés.
BBVA Banco Francés 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 branches in Argentina and employs around 4,300 staff.
For more information about BBVA Banco Francés, you can visit its website at www.bancofrances.com.ar.
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