DOCSLIB.ORG

Base Prospectus

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Base Prospectus BASE PROSPECTUS BPE FINANCIACIONES, S.A. (Incorporated with limited liability under the laws of the Kingdom of Spain) €5,000,000,000 Euro Medium Term Note Programme guaranteed by BANCO POPULAR ESPAÑOL, S.A. (Incorporated with limited liability under the laws of the Kingdom of Spain) This document constitutes a base prospectus (the "Base Prospectus") for the purposes of the Prospectus Directive as defined below. Under the Euro Medium Term Note Programme described in this Base Prospectus (the "Programme"), BPE Financiaciones, S.A. (the "Issuer") may from time to time issue notes ("Notes"), subject to compliance with all relevant laws, regulations and directives. An investment in Notes issued under the Programme involves certain risks. For a discussion of these risks see "Risk Factors". The payment of all amounts due in respect of the Notes will be unconditionally and irrevocably guaranteed by Banco Popular Español, S.A. (the "Guarantor" or the "Bank"), provided the Bank executes the relevant Final Terms in relation to the relevant Notes. The aggregate principal amount of Notes outstanding and guaranteed will not at any time exceed €5,000,000,000 (or the equivalent in other currencies). This Base Prospectus has been approved by the Central Bank of Ireland (the "Central Bank"), as competent authority under Directive 2003/71/EC and amendments thereto, including Directive 2010/73/EU (the "Prospectus Directive"). The Central Bank only approves this Base Prospectus as meeting the requirements imposed under Irish and European Union law pursuant to the Prospectus Directive. This Base Prospectus comprises a base prospectus for the purposes of the Prospectus Directive and the Prospectus (Directive 2003/71/EC) Regulations 2005 and for the purpose of giving information with regard to the issue of Notes under the Programme during the period of twelve months after the date hereof. Application has been made to the Irish Stock Exchange for the Notes to be admitted to the Official List and trading on its regulated market. The Programme also permits Notes to be issued on the basis that they will be admitted to listing, trading and/or quotation by such other or further listing authorities, stock exchanges and/or quotation systems as may be agreed with the Issuer. Such approval relates only to Notes which are to be admitted to trading on the regulated market of the Irish Stock Exchange or other regulated markets for the purposes of Directive 2004/39/EC or which are to be offered to the public in any Member State for the European Economic Area. The Guarantor has been assigned a rating of "BB- (negative outlook)" by Standard & Poors Credit Market Services Europe Limited ("S&P"), "BB+ (stable outlook)" by Fitch Ratings España, S.A.U. ("Fitch"), "Ba3 (Negative outlook)" by Moody's Investors Service España, S.A. ("Moody's") and "A (low) (negative outlook)" by DBRS Ratings Limited. ("DBRS"). Each of S&P, Fitch, Moody's and DBRS is established in the European Economic Area ("EEA") and is registered under Regulation EU No 1060/2009, as amended (the "CRA Regulation"). Tranches of Notes issued under the Programme may be rated or unrated. Where a Tranche of Notes is rated, such rating(s) will not necessarily be the same as the ratings described above or the rating(s) assigned to Notes already issued. If a Tranche of Notes is rated, it will be specified in the relevant Final Terms if the relevant credit rating agency is or is not established in the European Union and whether such agency is or is not registered under the Regulation (EC) No 1060/2009 (as amended) of the European Parliament and of the Council of 16 September 2009 on credit rating agencies. Arranger BARCLAYS Dealers BANCO BILBAO VIZCAYA ARGENTARIA, S.A. BANCO POPULAR ESPAÑOL, S.A. BARCLAYS BNP PARIBAS BOFA MERRILL LYNCH CITIGROUP COMMERZBANK CRÉDIT AGRICOLE CIB CREDIT SUISSE DEUTSCHE BANK GOLDMAN SACHS INTERNATIONAL HSBC J.P. MORGAN MORGAN STANLEY NATIXIS SANTANDER GLOBAL BANKING & MARKETS SOCIÉTÉ GÉNÉRALE CORPORATE & INVESTMENT BANKING UBS INVESTMENT BANK The date of this Base Prospectus is 23 December 2013 Each of the Issuer and the Guarantor accepts responsibility for the information contained in this Base Prospectus and declares that, having made all reasonable enquiries and having taken all reasonable care to ensure that such is the case, the information contained in this Base Prospectus is, to the best of their knowledge, in accordance with the facts and contains no omission likely to affect its import. This Base Prospectus should be read and construed together with any amendments or supplements hereto and with any other documents incorporated by reference herein and, in relation to any Tranche (as defined herein) of Notes, should be read and construed together with the relevant Final Terms (as defined herein). The language of this Base Prospectus is English. Any foreign language text that is included with or within this document has been included for convenience purposes only and does not form part of the Base Prospectus. The Issuer and the Guarantor have confirmed to the Dealers named under "Plan of Distribution" below that this Base Prospectus contains all information which is (in the context of the Programme, the issue, offering and sale of the Notes and the guarantee of the Notes) material; that such information is true and accurate in all material respects and is not misleading in any material respect; that any opinions, predictions or intentions expressed herein are honestly held or made and are not misleading in any material respect; that this Base Prospectus does not omit to state any material fact necessary to make such information, opinions, predictions or intentions (in the context of the Programme, the issue, offering and sale of the Notes and the guarantee of the Notes) not misleading in any material respect; and that all proper enquiries have been made to verify the foregoing. No person has been authorised to give any information or to make any representation other than those contained in this Base Prospectus in connection with the issue or sale of the Notes and, if given or made, such information or representation must not be relied upon as having been authorised by the Issuer, the Guarantoror any of the Dealers (as defined in "Plan of Distribution"). Neither the delivery of this Base Prospectus nor any sale made in connection herewith shall, under any circumstances, create any implication that there has been no change in the affairs of the Issuer or the Guarantor since the date hereof or the date upon which this document has been most recently amended or supplemented or that there has been no adverse change in the financial position of the Issuer or the Guarantor since the date hereof or the date upon which this document has been most recently amended or supplemented or that any other information supplied in connection with the Programme is correct as of any time subsequent to the date on which it is supplied or, if different, the date indicated in the document containing the same. Notice of the aggregate nominal amount of Notes, interest (if any) payable in respect of Notes, the issue price of Notes and any other terms and conditions not contained herein which are applicable to each Tranche (as defined under "Terms and Conditions of the Notes") of Notes will be set out in the final terms (the "Final Terms") which, with respect to Notes to be listed on the Irish Stock Exchange, will be delivered to the Central Bank on or before the date of issue of the Notes of such Tranche. The distribution of this Base Prospectus and the offering or sale of the Notes in certain jurisdictions may be restricted by law. Persons into whose possession this Base Prospectus comes are required by the Issuer, the Guarantor and the Dealers to inform themselves about and to observe any such restriction. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and include Notes in bearer form that are subject to U.S. tax law requirements. Subject to certain exceptions, Notes may not be offered, sold or delivered within the United States or to U.S. persons. For a description of certain restrictions on offers and sales of Notes and on distribution of this Base Prospectus, see "Plan of Distribution". This Base Prospectus does not constitute an offer of, or an invitation by or on behalf of the Issuer, the Guarantor or the Dealers to subscribe for, or purchase, any Notes. The Dealers have not separately verified the information contained in this Base Prospectus. None of the Dealers makes any representation, express or implied, or accepts any responsibility, with respect to the accuracy or completeness of any of the information in this Base Prospectus. Neither this Base Prospectus nor any other financial statements are intended to provide the basis of any credit or other evaluation and should not be considered as a recommendation by the Issuer, the Guarantor or the Dealers that any recipient of this Base Prospectus or any other financial statements should purchase the Notes. Each - ii - potential purchaser of Notes should determine for itself the relevance of the information contained in this Base Prospectus and its purchase of Notes should be based upon such investigation as it deems necessary. None of the Dealers undertakes to review the financial condition or affairs of the Issuer or the Guarantor during the life of the arrangements contemplated by this Base Prospectus nor to advise any investor or potential investor in the Notes of any information coming to the attention of any of the Dealers. The maximum aggregate principal amount of Notes outstanding at any one time under the Programme will not exceed €5,000,000,000 (and for this purpose, any Notes denominated in another currency shall be translated into Euro at the date of the agreement to issue such Notes calculated in accordance with the provisions of the Dealer Agreement).
Load more

Recommended publications
  • Evolución De Los Principales Grupos Bancarios Españoles (2009-2021)
    Evolución de los principales grupos bancarios españoles (2009-2021) Intervenida por BE (sustitución de administadores) Capital controlado por el FROB Integración SIP Constitución del banco 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Integration processes I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Santander Santander Banco Popular Banco Popular Banco Pastor BBVA Caixa Sabadell BBVA Caixa Terrasa Unnim Unnim Banc Caixa Manlleu BBVA Caixa Catalunya Caixa Tarragona Catalunya Caixa Catalunya Banc CX Caixa Manresa La Caixa Caixa Girona La Caixa Caixabank Caja Sol Caja Guadalajara Caja Sol Caixabank Caja Navarra Banca Cívica Caja Burgos Banca Cívica Caixabank Caja Canarias Banco de Valencia Banco de Valencia Caja Madrid Bancaja Caixabank Caja de Ávila Caja Segovia BFA-Bankia Caja La Rioja Caixa Laietana Caja Insular de Canarias Bankia Caja Murcia Caixa Penedés Caja Granada Mare Nostrum Banco Mare Nostrum BMN Sa Nostra Banco Sabadell Banco Guipuzcoano Banco Sabadell Banco Sabadell Caja de Ahorros del Mediterráneo CAM Banco CAM Banco Sabadell Banco Gallego (Grupo NCG) Banco Gallego Bankinter Bankinter Unicaja Caja Jaén Unicaja Unicaja Banco Caja Duero Unicaja Banco Caja España Caja España de Inversiones Banco CEISS Cajastur Unicaja CCM CCM Cajastur Banco Caja Cantabria Liberbank Liberbank Caja Extremadura Caja de Ahorros Inmaculada CAI Caja Círculo Católico de Burgos Caja 3 Banco Grupo Caja 3 Caja Badajoz Ibercaja Banco Ibercaja Ibercaja Banco Kutxa Caja Vital BBK BBK Kutxabank Kutxabank CajaSur CajaSur Banco Etcheverría Caixa Galicia Abanca Caixa Nova Novacaixagalicia NCGBanco Evo Banco C.R.
    [Show full text]
  • La Reestructuracion De La Banca En Galicia
    LA REESTRUCTURACION DE LA BANCA EN GALICIA FACULTAD DE ECONOMÍA Y EMPRESA MASTER EN BANCA Y FINANZAS AUTORA: DÑA. MARIA ECHAGÜE PÉREZ-MONTERO TUTOR: DR. PABLO CASTELLANOS GARCIA CURSO 2013/2014 1 INDICE Resumen ……………………………………………………………..…4 1. Introducción general ………………………………………………...…5 2. Reestructuración sistema financiero………………………………….7 2.1. El FROB …………………………………………………………..8 2.2. Memorándum de entendimiento ……………………………….9 2.2.1. Prueba de Oliver Wyman ……………………………………9 2.2.2. LA SAREB ……………………………………………..……..12 2.3. Acuerdos de Basilea……………………………………………...18 3. La banca en Galicia (2009-2013) ……………………………………...20 3.1. PARTE I: DESCRIPCION DE LOS HECHOS …………………21 3.1.1. NovaGalicia Banco ………………………………………….. 21 3.1.1.1. Introducción ……………………………………………21 3.1.1.2. Fusión de Caixanova y Caixagalicia ………………..22 3.1.1.3. Intervención y creación de NCG Banco …………….24 3.1.1.4. Evo Banco ……………………………………………..25 3.1.1.5. Adquisición en subasta por el banco Etcheverría (grupo Banesco) …………………………………………………………..27 3.1.2. Banco Pastor ………………………………………………… 28 3.1.2.1. Introducción …………………………………………... 28 3.1.2.2. Fusión Banco Popular ………………………………..29 3.1.3. Banco Gallego ………………………………………………...30 3.1.3.1. Introducción…………………………………………….31 3.1.3.2. Intervención …………………………………………....31 2 3.1.3.3. Adquisición en subasta por el Banco Sabadell ……32 3.1.4- Banco Etcheverría ……………………………………………. 34 3.1.4.1. Introducción ………………………………………… 34 3.1.4.2. Compra de Banesco ………………………………. 35 3.2. PARTE II: ANALISIS DE LOS HECHOS ……………………….. 36 3.2.1. NovaGalicia Banco ……………………………………36 3.2.2. Banco Pastor …………………………………………..41 3.2.3. Banco Gallego …………………………………………44 3.2.4. Banco Etcheverría …………………………………….47 3.2.5. Comparativa de las cuatro entidades ………….…….50 3.3.
    [Show full text]
  • Measurement of Contagion in Banks' Equity Prices
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Gropp, Reint E.; Moerman, Gerard Working Paper Measurement of contagion in banks' equity prices ECB Working Paper, No. 297 Provided in Cooperation with: European Central Bank (ECB) Suggested Citation: Gropp, Reint E.; Moerman, Gerard (2003) : Measurement of contagion in banks' equity prices, ECB Working Paper, No. 297, European Central Bank (ECB), Frankfurt a. M. This Version is available at: http://hdl.handle.net/10419/152731 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu EUROPEAN CENTRAL BANK WORKING PAPER SERIES ECB EZB EKT BCE EKP WORKING PAPER NO. 297 MEASUREMENT OF CONTAGION IN BANKS´ EQUITY PRICES BY REINT GROPP AND GERARD MOERMAN DECEMBER 2003 EUROPEAN CENTRAL BANK WORKING PAPER SERIES WORKING PAPER NO.
    [Show full text]
  • Registro Oficial De Entidades . Historico. Agosto 2013
    REGISTRO OFICIAL DE ENTIDADES . HISTORICO. AGOSTO 2013 CODIGO B.ESPAÑA DENOMINACION 0001 BANCO SANPAOLO, S.A. (B) 0003 BANCO DE DEPOSITOS, S.A. 0004 BANCO DE ANDALUCIA, S.A. (B) 0008 BANCO ATLANTICO, S.A. (B) 0009 FINANZIA, BANCO DE CREDITO, S.A. (B) 0010 BANCO DE BILBAO, S.A. (B) 0011 ALLFUNDS BANK, S.A. 0013 SOLBANK SBD, S.A. (B) 0015 BANCA CATALANA, S.A. (B) 0016 BANCO CENTRAL HISPANOAMERICANO, S.A. (B) 0019 DEUTSCHE BANK, SOCIEDAD ANONIMA ESPAÑOLA 0020 BANCO DEL COMERCIO, S.A. (B) 0021 BANCO CONDAL, S.A. (B) 0024 BANCO DE CREDITO BALEAR, S.A. (B) 0029 BANCO COMERCIAL ESPAÑOL, S.A. (B) 0030 BANCO ESPAÑOL DE CREDITO, S.A. (B) 0031 BANCO ETCHEVERRIA, S.A. 0035 BBVA PRIVANZA BANCO, S.A. (B) 0036 SANTANDER INVESTMENT, S.A. 0038 BANESTO BANCO DE EMISIONES, S.A. 0040 BANCO DE INVERSION Y SERVICIOS FINANCIEROS, S.A. (B) 0041 BANCO DE JEREZ, S.A. (B) 0042 BANCO GUIPUZCOANO, S.A. (B) 0043 BANCO HERRERO, S.A. (B) 0044 BANCO MERIDIONAL, S.A. (B) 0045 BANCO DE CREDITO CANARIO, S.A. (CANARIBANK) (B) 0046 BANCO GALLEGO, S.A. 0048 BANCO SIMEON, S.A. (B) 0049 BANCO SANTANDER, S.A. 0050 BANCO DEL COMERCIO, S.A. (B) 0053 BANCO CENTRAL HISPANO HIPOTECARIO, S.A. (B) 0056 BANCA JOVER, S.A. (B) 0057 BANCO DEPOSITARIO BBVA, S.A. 0058 BNP PARIBAS ESPAÑA, S.A. 0059 BANCO DE MADRID, S.A. 0061 BANCA MARCH, S.A. 0062 BANCA MAS SARDA, S.A. (B) 0063 BANKIA BANCA PRIVADA, S.A. (B) 0065 BARCLAYS BANK, S.A.
    [Show full text]
  • Client Alert
    Client Alert Short-Selling Rules: International Developments 23 September, 2008 The following is a brief summary of short-selling provisions which have been announced in certain jurisdictions as of 22 September, 2008. This summary is not intended to be a comprehensive list, as new provisions are being brought in by these and other countries as this document is being prepared and should not therefore be relied upon. Moreover the summary is not intended to be fully comprehensive and in many cases the provisions referred to are subject to further clarification and/or amendment. We will be updating this information over the coming days and weeks. If recipients require specific advice they should contact the persons named below. Australia: The Australian Securities & Investments Commission (ASC) has announced that effective from 22 September, 2008 all short selling (naked and covered) is prohibited. No end date for the prohibition has been stated, although the ASC will review the position in 30 days from 22 September. http://asic.gov.au/asic/pdflib.nsf/LookupByFileName/co08-752.pdf/$file/co08-752.pdf ASIC has announced certain exceptions to the prohibition: http://www.asx.com.au/about/pdf/20080923_update_on_asic_response_to_short_selling.pdf Belgium: The Belgian Banking, Finance and Insurance Commission (CBFA) has announced rules, which are initially in effect for three months, prohibiting naked shorting of financial stocks listed on Euronext Brussels. The affected issuers are: • KBC Groep NV • Fortis NV/SA • ING Groep NV • Dexia SA • KBC Ancora NV A disclosure regime has also been announced. Disclosure to the market must be made through a press release.
    [Show full text]
  • Bail-In and Bank Resolution in Europe Aftermath of the First SRM Bail-In: Banco Popular
    Master in Management - Major in Finance PROFESSIONAL THESIS Academic Year 2017-2018 Bail-in and Bank Resolution in Europe Aftermath of the first SRM Bail-in: Banco Popular Guillem LANA SABATÉ – Adrián MORENO FONTS Under the supervision of Prof. Jean-Edouard Colliard Friday, 29th June 2018 4 PUBLIC REPORT CONFIDENTIAL REPORT Master Thesis June 2018 Bail-in and Bank Resolution in Europe Aftermath of the first SRM Bail-in: Banco Popular Guillem LANA SABATÉ – Adrián MORENO FONTS Academic Year 2017-2018 Abstract This study seeks to analyse the investors´ confidence in the Single Resolution Mechanism after the first application since its implementation in 2014: the acquisition of Banco Popular Español for €1 by Banco Santander S.A. An event study methodology on Stock Prices and CDS Spreads will be employed to run such analysis and two different events of bail-out will be contrasted to the original bail-in of Banco Popular. The event study methodology will allow us to verify that investors had already adapted their bail-in risk perception long before the Popular´s resolution and this symbolic event does not trigger any statistically significant impact on European banks. On the contrary, subsequent Italian bail-out events squandered what had been achieved by reducing the credibility of the Single Regulatory Board and its resolution mechanism. Guillem Lana Sabaté and Adrián Moreno Fonts 1 Master Thesis June 2018 Content 1. Introduction ................................................................................................................
    [Show full text]
  • European Banks 0 2 4 6 8 10 12 14 16 18 20
    Ranking of Tier 1 ratio after stress - All European banks 0 2 4 6 8 10 12 14 16 18 20 .BANCA MARCH, S 1 .OTP BANK NYRT 2 POWSZECHNA KASA 3 BILBAO BIZKAIA 4 BARCLAYS 5 SYDBANK 6 JYSKE BANK 7 RABOBANK GROUP 8 OP-POHJOLA GROU 9 BANQUE ET CAISS 10 LANDESBANK BERL 11 ROYAL BANK OF S 12 DEXIA 13 FHB JELZÁLOGBAN 14 CAJA DE AHORROS 15 SNS BANK 16 SKANDINAVISKA E 17 BANCO BPI 18 HSBC HOLDINGS P 19 TT HELLENIC POS 20 NORDEA BANK 21 DANSKE BANK 22 SOCIETE GENERAL 23 GRUPO 24 ABN/ FORTIS BAN 25 SWEDBANK 26 DEUTSCHE BANK A 27 HSH NORDBANK AG 28 BNP PARIBAS 29 KBC BANK NV 30 BANK OF VALLETT 31 GRUPO BBVA 32 LLOYDS BANKING 33 COMMERZBANK AG 34 WGZ BANK AG WES 35 CREDIT AGRICOLE 36 M.P. Y C.A. DE 37 SVENSKA HANDELS 38 BAYERISCHE LAND 39 ING Bank 40 . DZ BANK AG DT 41 BPCE GROUP 42 DEKABANK DEUTSC 43 BANCO COMERCIAL 44 ALPHA BANK 45 INTESA SANPAOLO 46 BANQUE RAIFFEIS 47 CAIXA GERAL DE 48 EFG EUROBANK ER 49 LANDESBANK BADE 50 ERSTE GROUP BAN 51 BANK OF CYPRUS 52 UNICREDIT 53 BASE 54 CAIXA 55 NATIONAL BANK O 56 LANDESBANK HESS 57 BANCO DE SABADE 58 BREOGAN 59 MARFIN POPULAR 60 WESTLB AG 61 BANK OF IRELAND 62 BANCO POPOLARE 63 BANCO POPULAR E 64 MARE NOSTRUM 65 CAJA DE AHORROS 66 ESPÍRITO SANTO 67 UBI 68 .BANKINTER, S.A 69 CAJA DE AHORROS 70 DEUTSCHE POSTBA 71 CAJA DE AHORROS 72 ALLIED IRISH BA 73 NOVA LJUBLJANSK 74 JUPITER 75 NORDDEUTSCHE 76 MONTE DEI PASCHI 77 COLONYA - CAIXA 78 CAJA3 79 BANCO GUIPUZCOA 80 PIRAEUS BANK GR 81 BANCO PASTOR, S 82 CAJA SOL 83 ESPIGA 84 HYPO REAL ESTAT 85 BANCA CIVICA 86 UNNIM 87 AGRICULTURAL BA 88 CAJA DE AHORROS 89 DIADA
    [Show full text]
  • Approval of Proposal by Bankia, S.A
    - 1 - FEDERAL RESERVE BOARD Bankia, S.A. Valencia, Spain Order Approving Establishment of a Branch Bankia, S.A. (“Bankia”), a foreign bank within the meaning of the International Banking Act (“IBA”), has applied under section 7(d) of the IBA1 to establish a branch in Miami, Florida. The Foreign Bank Supervision Enhancement Act of 1991, which amended the IBA, provides that a foreign bank must obtain the approval of the Board to establish a branch in the United States.2 Notice of the application, affording interested persons an opportunity to comment, has been published in a newspaper of general circulation (Miami Herald, June 14, 2011). The time for filing comments has expired, and the Board has considered all comments received. Bankia, with total assets of approximately $406.3 billion,3 is the fourth largest bank in Spain. Banco Financiero y de Ahorros, S.A. (“BFA”), Madrid, Spain, owns 52.4 percent of Bankia.4 No other shareholder owns more than 5 percent of the 1 12 U.S.C. § 3105(d). 2 Id. 3 Asset and ranking data are as of September 30, 2011. 4 BFA was created through a Sistema Institucional de Protección (Integration Agreement), an integration transaction supported by the Bank of Spain to address the effects of the global financial crisis on Spanish financial institutions by consolidating a number of Spanish savings banks, or cajas de ahorros, operating in Spain. BFA was established by seven Spanish savings banks, including Caja de Ahorros y Monte de Piedad de Madrid, Caja Madrid (“Caja Madrid”), which owns 52.1 percent of BFA, and Caja de Ahorros de Valencia, Castellón y Alicante, Bancaja (“Bancaja”), which owns 37.7 percent.
    [Show full text]
  • Banco Ing Direct Madrid
    Banco Ing Direct Madrid Solicitous Arron deflagrated: he defiladed his asystole miraculously and colourably. Polygynous Sayres eventually,zincify, his abracadabraspiral and Taoist. impersonalises poetized metallically. Zacharia Indianised her poussin There is this branch location addresses and businesses of madrid ing direct BRANCH DIRECT CALLE SEVERO OCHOA 2 LAS ROZAS DE MADRID. He is currently the Chairman put the Advisory Board of ING Bank Spain and Portugal. She reserved her professional career when the financial sector working at Banco. KB Financial drops bid and buy ING's South Korean unit Reuters. Documentacin y Noticias Sala de Prensa ING. Looks like a link is changing the banco ing direct madrid? Entrevista Blog en Naranja ING direct PlayOffice Entrevista para el blog En naranja del banco ING Direct sobre emprendedores que innovan. Lifestyle 16 coverB ING indd Porcelanosa. SWIFT Code BIC Code IBAN of county bank ING BANK NV SUCURSAL EN ESPANA FORMERLY ING DIRECT NV. ING Direct Calle Severo Ochoa 2 2232 Las Rozas Madrid Spain. Lets and to deal with the local markets, banco ing direct madrid open a specialist student loans and. Bank ING DIRECT NV SUCURSAL EN ESPANA Branch Name Address CALLE SEVERO OCHOA 2 City MADRID Postcode 2230 Branch Phone. You will confiscate it and banco de madrid, i needed in spain after serving as well connected to this password in processing systems of banco ing direct madrid? Banco Sabadell Bankinter BBVA BSI CaixaBank Capital Generation Partners. Renta 4 Banco is question number one stud in Spain specialized in wealth management capital markets and investment services The edge is comprised by Renta.
    [Show full text]
  • The Banker’S Top 500 Banking Brands Listing Ranks the Leading Names
    G LOBAL F INANCIAL I NTELLIGENCE S INCE 1926 FEBRUARY 2011 The Banker WWW.THEBANKER.COM cOver sTOry | ToP 500 bankINg BrANdS introduction In a still-volatile financial climate, building and maintaining strong brand is a vital part of every bank’s operations. The Banker’s Top 500 Banking Brands listing ranks the leading names. John Beck reports. nce counted among the most trusted and Elsewhere, the BrIC countries (Brazil, russia, India stable of brands, many banks have expe- and China) experienced strong growth in brand value. rienced enormous reputational damage Industrial and Commercial Bank of China (ICBC) took in recent years. Public and investor opin- eighth place, while China Construction Bank rounded ion turned on the financial sector as the out the top 10, indicating that so far, Chinese banks have Ocrisis got under way in earnest back in 2008, and as been unaffected by fears that the country’s economy is blame was apportioned, banking brands suffered. becoming overheated. Meanwhile, Brazil’s strong eco- Now, after a period of damage control, many for- nomic growth helped to boost Banco Bradesco to sixth merly well regarded banks are attempting to rebuild place in the ranking, and saw Itaú climb to 11th, from their battered reputations. At the same time, those, often 25th last year. emerging market institutions, which made it through Perhaps unsurprisingly, the banks which have suf- the crisis relatively unscathed are seizing the chance to fered most tend to have connections to the countries consolidate and develop brand value. which make up the debt-plagued eurozone periphery, In the upper echelons of The Banker’s Top 500 Bank- although Spanish giant Santander still netted fourth ing Brands these two groups are strongly apparent.
    [Show full text]
  • Sharing Deal Insight European Financial Services M&A News and Views Eporue Nirahs L Aicnanin Fae Snl Ieag Dn L Thgis Eid
    www.pwc.com/financialservices SharingSharing dealdeal insightinsigghht EEuropeanuropean FFinancialinancial SServiceservices MM&A&A nnewsews aandnd vviewsiews This reepport provides perssppectives on the recent trends and ffuuture develooppments in the Eurooppean Financial Services M&A market and insights into emerrgging investment ooppportunities. Februarryy 2012 Contents 03 Welcome 04 Data analysis 10 Looking ahead 11 Methodology 12 About PwC M&A advisory services in the financial services sector 13 Contacts €38bn of European financial services deals in 2011 €16bn of European financial services deals in the final quarter of 2011 2 PwC Sharing deal insight Welcome to the first edition of Sharing deal insight for 2012. Sharing deal insight provides perspectives on the latest trends and future developments in the financial services M&A market, including analysis of recent transactions and insights into emerging investment opportunities. to Precision Capital, a Qatari-backed Yet, the survey findings also highlight the Nick Page investment group. 1 The list of major deals risks of standing still in a financial PwC UK in the final quarter of 2011 also included services market whose transformation is [email protected] further consolidation in Spain (Banco likely to have been accelerated by the Popular’s acquisition of Banco Pastor) and sovereign debt and wider financial crisis. the return of a nationalised bank to the European financial services businesses private sector in the UK (Virgin Money’s face the challenges of how to adapt to acquisition of Northern Rock). closer government control, shifts in demand and demographics, and the Fredrik Johansson Banks will be looking to divest more impact of technology on customer PwC UK of their non-core operations in 2012.
    [Show full text]
  • Corporate Governance in Spanish Banks: 2011
    Working Paper WP-946 January, 2012 CORPORATE GOVERNANCE IN SPANISH BANKS: 2011 Guido Stein Javier Capape Manuel Gallego IESE Business School – University of Navarra Av. Pearson, 21 – 08034 Barcelona, Spain. Phone: (+34) 93 253 42 00 Fax: (+34) 93 253 43 43 Camino del Cerro del Águila, 3 (Ctra. de Castilla, km 5,180) – 28023 Madrid, Spain. Phone: (+34) 91 357 08 09 Fax: (+34) 91 357 29 13 Copyright © 2012 IESE Business School. IESE Business School-University of Navarra - 1 CORPORATE GOVERNANCE IN SPANISH BANKS: 2011 Guido Stein1 Javier Capape2 Manuel Gallego3 Abstract Spanish laws and regulations on corporate governance operate within the framework of European laws and regulations and are based on the circulars issued by the Banco de España and the Recommendations of the Unified Code (2006). In this study we have situated Spanish banks within the overall domain of corporate governance. Taking the ten largest banks by market capitalization, we have drawn a map, on which we have situated the banks according to their ownership and governance. Although general models of governance based on geographical criteria (United States, British and European models) do exist, they are not exactly applicable to Spanish banks. On the one hand, Banco Santander and BBVA are closer in some respects to the United States or British conception of governance, with low shareholder concentration, high free float and a large presence of institutional investors. The boards of these banks have more independent directors than the average and the proportion of proprietary directors is small. As regards total directors’ remuneration, it is worth noting that the figures for Santander and BBVA exceed the average for Ibex 35 companies by 400% and 180%, respectively.
    [Show full text]