BBVA Argentina
Argentine bank From Wikipedia, the free encyclopedia
BBVA Argentina, formerly BBVA Banco Francés, is a financial institution in Argentina.
 | |
_II.JPG) Bank headquarters in Buenos Aires | |
| Company type | Sociedad Anónima |
|---|---|
| BCBA: BBAR NYSE: BBAR BMAD: XBRF MERVAL component | |
| Industry | Financial services |
| Founded | 14 October 1886 |
| Headquarters | Buenos Aires, Argentina |
Key people | Jorge Carlos Bledel (CEO) |
| Products | Banking, Insurance |
| Revenue |  US$ 1.4 billion (2023)[1] |
| US$ 1.45 billion (2023)[1] | |
| Total assets | US$ 24.4 million (2023) [1] |
Number of employees | 6,009 (2023) [1] |
| Parent | Banco Bilbao Vizcaya Argentaria |
| Website | bbva.com.ar |
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.[2]
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.[2]
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.[3] In 2017, the bank once again relocated its headquarters in the newly built Torre BBVA.[4]
In 2019, BBVA unified its brand worldwide and BBVA Francés was renamed BBVA.[5]
In 2023, BBVA Argentina had 243 branches (56 of them digital and 24 fully digital), 895 ATMs, and 861 ATSs across the country.[6]
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