Banco Hispano Americano: A History of Excellence

Banco Hispano Americano has a rich history that spans over a century. Founded in 1900, it has been a major player in the banking industry in Spain and Latin America.

The bank's early success can be attributed to its innovative approach to banking, which included offering a wide range of financial services to its customers. This approach helped the bank to establish a strong presence in the market.

One of the bank's most notable achievements was its expansion into Latin America in the early 20th century. This expansion marked a significant milestone in the bank's history and helped to establish it as a major player in the region.

Banco Hispano Americano's commitment to excellence has been a hallmark of the bank's success throughout its history.

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The Banco Hispano Americano, or BHA, has a rich history that dates back to 1900. It was founded by a group of investors led by Antonio Basagoiti Arteta, a successful businessman who made his fortune in Mexico.

These investors, including the families Zaldo and Ibáñez, wanted to create a private bank with a national focus, as the Banco de España was the only bank with a presence in the entire Spanish territory at the time.

The BHA suffered a crisis of confidence in 1913 due to rumors of its commercial activities in Mexico, which was experiencing political instability.

The crisis was resolved with the help of the Banco de España, which acted as a lender of last resort and helped the BHA recover.

Under the leadership of Andrés Moreno García, who became the director general in 1929, the bank's management became more decentralized.

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Banco Hispano Americano had a significant presence in the employment sector, with a workforce of over 20,000 employees.

The bank's employment policies were designed to attract and retain top talent, with a focus on diversity and inclusion.

Banco Hispano Americano offered competitive salaries and benefits packages to its employees, including health insurance and retirement plans.

In addition to its employee benefits, the bank also invested in employee training and development programs.

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Banco Hispano Americano made important investments in the Spanish industrial sector throughout its existence. It was closely associated with the creation of the Compañía Arrendataria del Monopolio de Petróleos (CAMPSA) in 1928 and the company Hidroeléctrica de Cataluña in 1946.

The bank played a leading role in the negotiations that led to the acquisition of the Rio Tinto mines from the British Rio Tinto Company Limited in the mid-1950s. It formed part of the consortium that eventually formed the Compañía Española de Minas de Río Tinto to exploit the deposits.

In 1976, Banco Hispano Americano finalized the details for the takeovers of Banco Mercantil e Industrial and Banco de Gijón. A representative office was also opened in Tehran, the first to be opened by a Spanish bank, with the aim of channeling commercial activities between Iran and Spain.

The bank provided financial support for the operation that led to the creation of the holding company Ibercobre in 1978. This was linked to the Sociedad Española de Construcciones Electromecánicas (SECEM).

Banco Hispano Americano's expansive strategy made it the second-largest Spanish bank in 1977. This was due to its involvement in various international expansions, including the opening of offices in cities such as Rio de Janeiro, São Paulo, London, Lisbon, and Moscow.

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The Banco Hispano Americano faced a severe crisis in the late 1970s and early 1980s, which significantly impacted its industrial portfolio. This led to a difficult situation in 1984, where the bank's president, Claudio Boada, was forced to withhold dividend payments.

The bank underwent a lengthy process of recovery, with the Banco de España overseeing the effort and providing 45,000 million pesetas in aid. The other major banks and the Fondo de Garantía de Depósitos contributed to this amount.

In 1988, the bank sold the Banco Urquijo Unión to the Grupo March, resulting in a significant profit of 67,500 million pesetas.