Banking system of Spain

Banking system of Spain

Done by: avazxoja abdurazoqov

Banco de España

Overview of Banks in Spain

• The Spanish central monetary authority is Banco de España, which serves as the national supervisor of banks in Spain within the framework of the Eurozone. All European Union countries that adopted the euro as their national currency form a geographical and economic region known as the Eurozone. The Eurozone forms one of the largest economic regions in the world. Nineteen of the 28 countries in Europe use the euro‘s Single Supervisory Mechanism (SSM). Established in Madrid in 1782, Spain’s central bank is currently a member of the European System of Central Banks.

Banks in Spain

• The Spanish banking system is fully integrated with international financial markets and includes credit, stock, and money markets, as well as markets for derivatives. Foreign banks with authorization in another EU member country and plans to establish a branch or representative office in Spain do not need to get authorization from the country’s central bank. Banks in Spain and foreign companies are subject to the same conditions of access to the Spanish financial system.

Top Banks in Spain

• There are over 165 different banks and two types: bancos (private or publicly owned banks) and cajas (state owned banks, which tend to invest in local projects).Banco Santander was the largest bank in Spain as of June 2020, with total assets worldwide of roughly 1.57 trillion euros. The other top contenders were BBVA and CaixaBank, with 753.8 and 445.6 billion euros in assets, respectively

Banco Santander

Banco Santander

Established in Santander in 1857, Banco Santander is the largest of the banks in Spain. Since 2000, the Spanish banking group’s been expanding through many acquisitions. It operates across Europe, South America, North America, and Asia. In May 2016, it ranked 37th in the Forbes Global 2000 list of the biggest public companies in the world.

Revenue: 48.392 billion euros (2017)

Net income: 8.96 billion euros (2017)

Total assets: 1.444 trillion euros (2017)

CaixaBank

CaixaBank SA is an integrated financial group, which provides banking and insurance services. The firm offers banking business, insurance, pension and investment fund activities, as well as holdings in international banks. It operates through the following segments: Banking & Insurance, Equity Investments, and BPI. The Banking & Insurance segment core business includes the entire banking business, including retail banking, corporate banking, cash and markets, and the insurance business, primarily carried out in Spain

Careers in investment banking

• The Bank of Spain (Spanish: Banco de España) is the central bank of Spain. Established in Madrid in 1782 by Charles III, today the bank is a member of the European System of Central Banks and is also Spain's national competent authority for banking supervision within the Single Supervisory Mechanism. It's called the 'Chamber of Gold', a vault containing most of the Spanish gold reserves; ingots and also old coins, like an old coin from the 12th century.

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