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词条 Banesto
释义

  1. History

  2. 1993 crisis and Bank of Spain intervention

  3. Banesto Golf Tour

  4. See also

  5. References

  6. External links

{{For|the cycling team formerly sponsored by Banesto|Team Movistar (disambiguation){{!}}Movistar Team}}{{Infobox company
| name = Banco Español de Crédito, S.A.
| logo = Banesto Logo.svg
| logo_size = 220px
| type = Sociedad Anónima
| traded_as = {{BMAD|ES0113440038|BTO}}
| foundation = 1902
| location = Madrid, Spain
| key_people = Mario Conde (Former chief), Antonio Basagoiti (Chairman), José García Cantera (CEO)
| industry = Financial services
| fate = Rescued by Spanish government due to Banesto Scandal (1993)

Absorbed into Santander Bank (2012)


| products = Retail, business and wholesale banking
| homepage = {{URL|banesto.es}}
| operating_income = €891.6 million (2009)[1]
| net_income = €559.8 million (2009)[1]
| assets = €126.2 billion (2009)[1]
| equity = €5.473 billion (2009)[1]
| parent = Banco Santander
| num_employees = 8,905 (2009)[1]
}}

Banesto (officially Banco Español de Crédito, S.A., "Spanish credit bank",) was a Spanish bank, 88.4% owned by the Santander Group. Banesto was the fifth-largest banking group in Spain,[2] operating around 1,770 branches.[1] Outside of Spain, it is known as the sponsor of a cycling team that featured Miguel Indurain, the first rider to win five consecutive Tours de France. Today's Movistar Team is the direct descendant of this team.

In 2012, Banco Santander announced it would absorb Banesto.[3]

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.

Ana Patricia Botín, daughter of Santander president Emilio Botín, served as executive chair of the bank between 2002 and November 2010, when she moved to the position of CEO of Santander UK.

The Santander Group announced in December 2012 that it would purchase the remaining 10% of Banesto that it does not currently own, and will merge the business with the existing Banco Santander business in Spain.[4]

1993 crisis and Bank of Spain intervention

{{expand section|date=February 2019}}

In December 1993, the Spanish National Stock Exchange Commission (Comisión Nacional del Mercado de Valores) suspended trading shares in Banesto following a fall in value estimated between 6.56% and 6.8%[5] from 2,135 to 1,995 spanish pesetas[6] and sharp increases in loan delinquencies observed by the Spanish government in the previous quarter, Quarter 3 1993.

Alfredo Pastor, then-Secretary of The State for the Economy stated that inspectors from the Bank of Spain had concluded that Banesto lacked resources to cover liabilities and that the management of the bank was not able to secure the necessary financing to remedy the situation.[5] In addition to its suspension, the Spanish government removed its chairman Mario Conde, replacing him with a board containing representatives of five other private banks: BBV, (now BBVA) , BCH (now Santander), Argentaria (now a part of BBVA), Santander and Popular (now Santander)[5][6]

According to the New York Times, the bank was also forced to admit it was directing profits and revenue from some sales of assets into reserves for losses from loans.[5] The Spanish newspaper El Pais dubbed the shortfall in financial resources a "hole"[6], which has had varying estimates. The British newspaper The Independent cited the shortfall as 605 Billion Pesetas[7] equating to $7.1bn as of January 2019 (£5.6bn).[8]

Banesto Golf Tour

Starting in 2009, Banesto sponsored a women's golf mini-tour with 8 events, all in Spain.[9] The tour in 2010 is scheduled for 7 events.[10]

See also

{{Portal|Companies}}
  • Palacio del Duque de Arión

References

1. ^{{cite web |url=http://www.banesto.es/CsAppsExp/Portales/WebCorporativa/MinisiteBanesto2009/pdf/memoria09/Banesto_memoria2009.pdf |title=Annual Report 2009 |accessdate=2010-04-11 |publisher=Banesto |format=PDF |language=Spanish |archive-url=https://web.archive.org/web/20121224024127/http://www.banesto.es/CsAppsExp/Portales/WebCorporativa/MinisiteBanesto2009/pdf/memoria09/Banesto_memoria2009.pdf |archive-date=2012-12-24 |dead-url=yes |df= }}
2. ^{{cite news|url=https://www.forbes.com/markets/feeds/afx/2007/04/23/afx3639663.html|title=Banesto ratings affirmed with stable outlook, says Fitch|date=23 April 2007|work=AFX News|publisher=Forbes|accessdate=2008-12-30}}
3. ^{{cite news |title=Santander absorbs Banesto and Banif and shuts branches |url=https://www.bbc.co.uk/news/business-20754294 |newspaper=BBC News |date=17 December 2012 |accessdate=29 September 2014}}
4. ^{{cite news |title=Santander absorbs Banesto and Banif and shuts branches |url=https://www.bbc.co.uk/news/business-20754294 |newspaper=BBC News Online |date=17 December 2012 |accessdate=17 December 2012}}
5. ^{{Cite news|url=https://www.nytimes.com/1993/12/29/business/ambitious-bank-in-spain-stumbles-and-is-taken-over.html|title=Ambitious Bank in Spain Stumbles and Is Taken Over|last=Riding|first=Alan|date=1993-12-29|work=The New York Times|access-date=2019-01-05|language=en-US|issn=0362-4331}}
6. ^{{Cite news|url=https://elpais.com/diario/1993/12/29/economia/757119637_850215.html|title=Reportaje {{!}} El 'agujero' de Banesto supera los 370.000 millones|last=País|first=Ediciones El|date=1993-12-29|work=El País|access-date=2019-01-05|language=es|issn=1134-6582}}
7. ^{{Cite web|url=http://www.independent.co.uk/news/business/black-sheep-banker-charged-with-banesto-fraud-1349714.html|title='Black sheep' banker charged with Banesto fraud|date=1996-05-29|website=The Independent|language=en|access-date=2019-01-05}}
8. ^According to Bank of England Data for 31 December 1991 (closest value to date provided).1) 605000000000pst / 209.234 gbp2) Roughly £2,891,499,469.49 according to the December 31 exchange rate between Pesetas and Pounds,3) Applying interest per the Bank of England data (£1 in 1993 is £1.94 in 2019) = £2,891,499,469.49 * £1.94 = £5,609,508,970.81064) With £1 at $1.27 exchange rate this is £5,609,508,970.8106 * $ 1.27 = $7,140,916,138.86Roughly £5.6 billion and $7.1 billion.
9. ^{{cite web |url=http://tour2009.banestogolftour.com/index.php?option=com_content&view=article&id=104&Itemid=55 |work=tour2009.banestogolftour.com |archive-url=https://web.archive.org/web/20110707210711/http://tour2009.banestogolftour.com/index.php?option=com_content&view=article&id=104&Itemid=55 |archive-date=7 July 2011 |title=Clasificación General Circuito 2009 |access-date=12 October 2010 |year=2009}}
10. ^{{cite web |url=http://www.banestogolftour.com/index.php?option=com_content&view=article&id=47&Itemid=53 |work=banestogolftour.com |archive-url=https://web.archive.org/web/20100503234530/http://www.banestogolftour.com/index.php?option=com_content&view=article&id=47&Itemid=53 |archive-date=3 May 2010 |title=Calendario Circuito 2010 |access-date=12 October 2010 |year=2010}}

External links

  • {{official website|www.banesto.es}}
  • {{PM20|FID=co/002298|TEXT=Documents and clippings about|NAME=}}
{{Corporate scandals}}{{Spain-bank-stub}}

11 : Finance fraud|Accounting scandals|Corporate scandals|Corruption in Spain|Corporate crime|Defunct banks of Spain|Santander Group|1902 establishments in Spain|2012 disestablishments in Spain|Banks established in 1902|Banks disestablished in 2012

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