Spain has numerous banks. This blog has already reviewed from the top competitors, their multinational reaches, as well as their futures visions. This blog covers five more specific Spanish banks that are smaller, yet are still extremely popular and large within the scope of banking company sizes. This list of five major Spanish banks gives profiles of the unique aspect of each bank. This list covers major banking that are valuable to individual customers and play a secondary, yet strong and important role within the overall Spanish economy. This list is important because it shows the size diversity and specialties of Spanish banking as well as how the banking system is tied to Spanish monarchy historically and present, as well as how it function locally.
Spanish Credit Bank
The Spanish Credit Bank was incorporated and granted license as Banesto Bank by the Bank of Spain in 1902. The bank was founded in Spain’s capital city, Madrid. After the major Santander Group merger described in the blog on the three biggest Spanish banks, almost ninety percent of this bank is now under the Santander brand. This aspect of Santander deals primarily with commercial banking, including retail and wholesale operations for major outlets within Spain as well as the Spanish presence of international retail and wholesale outlets.
Pastor Bank has been in existence since 1776 and is now a current acquisition of Popular Bank Group. Pastor Bank is the second oldest bank in Spain. The oldest bank in Spain is called Etcheverria Bank. Paster Bank operates solely and completely under the Popular Bank Group.
Ing Direct Spain
Ing Direct Spain has operated in the country since 1999. Ing Direct is a multination financial services company, with a basis in Denmark. This banking group is among the largest global banking groups. Ing Direct is a popular bank because it offers a competitive and unique banking model. IngDirect’s banking model does not charge fees and has very little fine prince. Its operations are almost exclusively on the phone or through the internet. Ing Direct represents a profound shift for the Spanish banking system and is one of the trend markers that influence BBVA’s visionary platforms on sustainable technological development in banking. Ing Direct Spain is the leading direct bank for Spain and offers a diverse portfolio of products and services for individuals and businesses. A key term for this bank is Unicaja. Caja refers to small scale banking in provincial and village locations. Unicaja refers to a unified network of small scale financial services. Ing Direct Spain has over two million customers in Spain alone throughout its network of banks or Unicaja.
In addition to the general term Unicaja, there is also a banking entity termed Unicaja Bank. As noted, Unicaja and Banco are two terms that distinguish direct, individual banking for the former and retail, commercial banking for the later. Unicaja Financial is a network of bank branches throughout almost twenty Spanish provinces, and expansion branches outside of Spain in four major areas where Spaniards frequent. The bank is large enough and robust to have representative offices in multiple foreign territories and relationships with leading banks in those territories as well as with international banks. Unicaja Financial operates and maintains a number of collaboration agreements that enable it to engage customers as an international entity within its own right.
Ibercaja is a popular credit union baked by the Bank of Spain. This credit union maintains independence from the major merging competitors within the Spanish Banking System. The institution was founded through Spanish monarchic royal decree and participates in all matters of the banking industry. Specifically, Inbercaja offers investment services and financial products relative to credit securities.