Banco BBVA Argentina S.A.
TypeSociedad Anónima
BCBA: BBAR
NYSE: BBAR
BMAD: XBRF
MERVAL component
IndustryFinancial services
Founded14 October 1886 (1886-10-14)
HeadquartersBuenos Aires, Argentina
Key people
Jorge Carlos Bledel (CEO)
ProductsBanking, Insurance
RevenueIncrease US$1.3 billion (2013) [1]
US$177.204,953 (2021)[2]
Total assetsUS$8.626.676 (2021) [2]
Number of employees
5,852 (2021) [2]
ParentBanco Bilbao Vizcaya Argentaria
Websitebbva.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-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

  1. ↑ "BBVA BANCO FRANCES SA-ADR (BFR:New York): Financial Statements". Businessweek. Archived from the original on January 18, 2013. Retrieved 2014-11-15.
  2. 1 2 3 "EEFF Banco BBVA Argentina S.A." (PDF). bolsar.info (in Spanish). Retrieved 19 October 2023.
  3. 1 2 "Banco Francés: historia" (PDF) (in Spanish). Archived from the original (PDF) on 2012-03-01. Retrieved 2012-07-07.
  4. ↑ "ABA Ranking" (xls). ABA Argentina.com. December 2013.
  5. ↑ "El BBVA Francés pagó $ 1.200 millones y se quedó con la nueva torre de Costantini". Cronista. 12 July 2013.
  6. ↑ "BBVA to unify its brand worldwide, changes its logo" (Press release). PR Newswire. December 24, 2019.

34°36′21″S 58°22′19.5″W / 34.60583°S 58.372083°W / -34.60583; -58.372083

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