Popular Banks in Spain
Spain is home to some of the biggest banks in the world. These banks play a vital role in the country’s economy, providing financing for businesses and individuals alike. In this blog, we will take a look at the five largest banks in Spain.
Spain has a long history of banking, with the first recorded bank appearing in 1846. Since then, the country’s banking sector has grown to become one of the largest in Europe. Currently, there are more than 100 banks operating in Spain, with a combined asset base of over €1 trillion.
These banks play a vital role in the Spanish economy, providing financing for businesses and individuals alike. They also play an important role in promoting economic growth and stability. Spanish banks have been significantly affected by the global financial crisis in 2008 and the ensuing European debt crisis. However, they have slowly begun to recover and are once again playing a key role in supporting the Spanish economy.
What can banks in Spain do for you?
When it comes to finding the right bank for your needs, Spanish banks offer a wide range of options and services. From traditional banking products like checking and savings accounts to more specialized services like investment products, mortgage financing, Spanish banks can provide the financial support you need. In addition, many Spanish banks offer online and mobile banking services, making it easy to manage your finances on the go.
With so much to offer, it’s no wonder that Spanish banks are a popular choice for both individuals and businesses. So whether you’re looking to open a Spanish bank account or more comprehensive financial services such as corporate and investment banking, Spanish banks are worth considering.
Choosing the right bank for your needs
There are a few things to consider when choosing a bank in Spain.
First, think about what type of products and services you need. Do you need a basic checking account or are you looking for more specialized services like investment products or mortgage financing? Once you know what you need, start comparing banks. Consider things like the fees they charge, the level of customer service they provide, and the convenience of their online and mobile banking services.
It’s also a good idea to check out what other customers are saying about a particular bank before you make a decision. Reading online reviews can give you a good sense of a bank’s reputation and whether or not they’re likely to meet your needs.
Once you’ve chosen a bank, be sure to take the time to open an account and get started with their services. With the right bank in Spain, you can enjoy all the benefits of modern banking with ease.
Most popular banks in Spain
Below you can find our pick of the most popular banks in Spain, based on assets, visibility, service level, and the number of branches.
1. Banco Santander
Banco Santander is the most popular bank in Spain and the largest bank in Spain in terms of lending, assets and deposits. Meanwhile, it has around 200 million employees, and 135 million customers. Banco Santander operates in the Americas, Asia, and Europe. Its primary markets include the United Kingdom, United States of America, Argentina, Germany, Mexico, Brazil, Portugal, Chile, and Poland.
Banco Santander Group has a big network of 13,277 branches throughout the world. Furthermore, it started operations in China and established offices in Uruguay and Puerto Rico.
2. Banco Bilbao Vizcaya Argentaria, SA (BBVA)
BBVA bank is the second largest bank in Spain. In 1999, It was merged from Banco Bilbao Vizcaya (BBV) and Argentaria. Nowadays, it serves 75.7 million customers, almost in 30 different countries. However, Banco Bilbao Vizcaya Argentaria, SA position is vital, especially in Latin America.
3. CaixaBank
CaixaBank is the third largest and most popular bank in Spain, and its headquarters is in Valencia. Also, it has a leading retail banking business in Portugal, with more than 2 million BPI clients. CaixaBank has9,335 ATMs, 15.7 million customers and 5,033 branches nationwide. CaixaBank was relatively founded in 2011, and its main shareholder is CriteriaCaixa.
4. Banco de Sabadell
Banco de Sabadell is the fourth largest bank in Spain that is located in Alicante. In 1881, this bank came into being by a group of 127 businessmen. Nowadays, serves 11 million customers, over 26,000 employees, and a network of 2,455 branches. Last year, Banco de Sabadell company had a market capitalization of $ 5.9 billion.
5. Bankia
Bankia is the fifth-largest bank in Spain. It has 2,200 ATMs, with a network of 2,300 branches, and serves 8.1 million customers. In 2010, Bankia was founded after seven savings banks in Spain were merged into the Institutional Protection System such as Caja Canarias, CaixaLaietana, Caja Madrid, Caja Avila, Caja Segovia, Caja Rioja, and Bancaja,
Meanwhile, Bankia offers banking insurance, real estate services, commercial banking, asset management, and online banking.
6. Bankinter
Bankinter is the sixth-largest bank in Spain, and definitely part of the most popular banks in Spain. It is considered as being one of the most profitable and leading banks in Spain. Bankinter provides corporate and personal services like insurance products, private banking, and mutual funds.
In 1965, It was established by a joint venture between Bank of America and Santander. In 1972, entered the Madrid Stock Exchange as an independent banker. Bankinter loan portfolio reaches 54.8 billion euros with total assets of 76.3 billion euros. Furthermore, it has 400 financial agents with 445 branches in Spain.
7. KutxaBank
KutxaBank is the seven largest bank in Spain located in the Basque Autonomous Community. It offers the services of debit and credit cards, savings accounts, checking, auto insurance, life insurance, online banking, retirement products, and many other services.
In 2012, KutxaBank was officially formed as a merger of Basque financial institutions, such as GipuzkoaDonostiaKutxa, Bilbao Bizkaia Kutxa and Caja Vital Kutxa.
8. Unicaja Banco
It is the eighth largest bank in Spain. In 2011, Unicaja Banco SA registered and built its leading positions in Leone, Andalusia, and Castile. It serves 3 a million customers nationwide with approximately 1,180 branches.
Unicaja Banco is headquartered in Malaga. It offers different services such as asset management, retirement plans, savings accounts, personal and commercial loans, investment products, and brokerage services.
9. Ibercaja Banco
It is the ninth-largest bank in Spain. Ibercaja Banco headquartered is in Zaragoza, it has 5,600 employees who provide a wide range of personal and commercial banking services. Ibercaja Banco has 1,475 ATMs and more than 1,150 branches throughout Spain.
The main domestic market for Ibercaja Banco is Aragon, which includes the three provinces of Huesca, Zaragoza and Teruel, the autonomous community of Rioja, the municipality of Guadalajara, and Burgos and Badajoz.
10. Abanca
It is the tenth bank in Spain, as it is a large financial institution founded in 2011. Its headquarters is located in Betanzos, municipality of the Autonomous Community of Galicia, province of A Coruña. It is a subsidiary of Abanca Holding Financiero SA, which currently employs about 4,700 people. Abanca has more than 620 local branches and offices in France, Germany, Great Britain, Venezuela, Brazil, Panama, and Mexico.
Spanish Banking System
The Spanish banking system is a network of banks and financial institutions that provide services to the Spanish economy. The system is regulated by the Bank of Spain, which is the central bank of the country. There are a number of different types of banks in Spain, including commercial banks, investment banks, and savings banks. Commercial banks are the largest type of bank in Spain and offer a wide range of services, including loans, mortgages, and credit products.
Investment banks are focused on providing financing for businesses and projects. Savings banks are typically smaller institutions that offer savings accounts and deposit products. In addition to these traditional types of banks, there are also a number of online-only banks that operate in Spain. These banks offer a variety of products and services, including personal loans and credit cards.
A word from SublimeSpain
Indeed, choosing the right bank in Spain is not an easy task, since all settlements in the modern world take place through banks, it is important to have a bank that is there for you. We hope we have shown you a few ideas by giving you 10 popular banks in Spain. If you want any financial help or want to open an account with the help of financial experts, consult SublimeSpain.
