Banesto (officially Banco Español de Crédito, S.A., "Spanish credit bank", BMAD: BTO) is a Spanish bank, 88.4% owned by Banco Santander. Ana Patricia Botín, daughter of Santander president Emilio Botín, chairs the bank. Currently Banesto is the fifth-largest banking group in Spain,[2] operating around 1,900 branches (an increase of almost 300 since the end of 2004).[1]
Outside of Spain, it is most remembered as the sponsor of a cycling team that featured Miguel Indurain, the first rider to win five consecutive Tours de France. Today's Caisse d'Epargne team is the direct descendant of this team.
[edit] History
Banesto acquired Banco del Pacifico in 1991 and renamed it. In 1993 it bought Banco de Concepcion, but the merger was suspended when Banco de España suspended Banesto. When Banco Santander acquired Banesto, Santander sold Banesto Uruguay, Chile, and Banco Shaw in Argentina. In 1994, Banco Santander sold Banesto Chile to Banco Hipotecario de Fomento de Chile (BHIF). In 1998 BBVA bought BHIF.
[edit] References
- ^ a b c d e "Annual Report 2008" (PDF). Banesto. http://www.banesto.es/CsAppsExp/Portales/WebCorporativa/MinisiteBanesto2008EN/pdf/informe-anual/informe_anual_2008.pdf. Retrieved 2009-05-12.
- ^ "Banesto ratings affirmed with stable outlook, says Fitch". AFX News (Forbes). 23 April 2007. http://www.forbes.com/markets/feeds/afx/2007/04/23/afx3639663.html. Retrieved 2008-12-30.
[edit] External links
| Members of Euro Banking Association | | | Austria | | | | Belgium | | | | Cyprus | | | | Denmark | | | | Finland | | | | France | | | | Germany | | | | Greece | | | | Hungary | | | | Ireland | | | | Italy | | | | Luxembourg | | | | Netherlands | | | | Poland | | | | Portugal | | | | Slovenia | | | | Spain | | | | Sweden | | | | United Kingdom | | | | Non-EU | | |
