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Banco Popular EspañolSpain
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On record

This profile has not been updated for more than one year, with the information provided here possibly out of date

Created before Nov 2016
Last update: 2018-07-30 12:03:13

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Banco Popular's head office in Madrid. Photo: Luis Garcia via Wikipedia (CC BY SA 3.0)

About Banco Popular Español

Banco Popular is the fifth largest banking group in Spain in terms of assets and client deposits.  It is focused on retail (90% of its business) and commercial banking, with almost 2,000 branches in Spain and 200 abroad. The Banco Popular Group is formed by the parent bank (Banco Popular Español) and six banks, four of which operate in Spain (Banco Pastor, Popular Banca Privada, Targobank and Banco Popular), one in Portugal (Banco Popular Portugal), one in the United States (Totalbank) and a finance group in Mexico with a 25% stake. The Group has securitisation vehicles, real estate companies and two insurance companies. In May 2013 Banco Popular adopted the Equator Principles. The bank is profiled as part of BankTrack's Equator Principles Track and Chase project.

In 2017 the bank was failing because of a mountain of bad (real estate) loans. In June, regulators deemed Banco Popular to be “failing or likely to fail”, in the following process shareholders and junior bondholders were wiped out. The bank was acquired for the symbolic value of EUR 1,- by Banco Santander. Details of the acquisition are unclear. A claim was filed at the European Court of Justice by Quinn Emanuel, a law firm, on behalf of clients including Anchorage Capital, Algebris and Ronit Capital, that aims to annul decisions made by the European Commission and a Brussels body designed to address bank failure. Bondholders who lost their investments in Banco Popular have also started proceedings in a New York court in the hopes of unearthing documents and communications related to the purchase.

In September 2018, Banco Popular was fully incorporated by Banco Santander (see profile here). In 2019 its legal existence and also the Banco Popular brand name ceased to exist.

Website https://www.bancopopular.es
Headquarters
C/Velázquez, 34 esq. Goya 35, Madrid
28001 Madrid
Spain
CEO/chair Rami Aboukhair Hurtado
CEO
Supervisor
Banco de España
Annual reports Financial half year report 2017
Integrated Report 2016
Ownership

In September 2018 Banco Popular was fully incorporated by Banco Santander.

Related Dodgy Deals

Banco Popular Español has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

Dodgy Deals map

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News

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Type:
Year:
blog
external news
our news

Banco Santander: The deed of the merger by absorption of Banco Popular Español by Banco Santander has been registered with the Commercial Registry

2018-04-24 | Twst.com
blog
external news
our news

Banco Popular bondholders take legal fight to US

2018-04-04 | Financial Times
blog
external news
our news

Investors sue Brussels over Banco Popular sale

2017-08-17 | Financial Times
blog
external news
our news

Mergers: Commission approves acquisition of Banco Popular Español S.A. by Banco Santander

2017-08-08 | European Commission
blog
external news
our news

Banco Popular Español: Is This Europe's First 'Bail-In' Test?

2017-06-08 | Seeking Alpha
blog
external news
our news

Santander Rescues Popular as Spain Real Estate Loans Sink Lender

2017-06-07 | Bloomberg
blog
external news
our news

Banco Popular acquisition

Press release Banco Santander
2017-06-07 | Banco Santander
blog
external news
our news

Spain's Banco Popular says fires CEO Francisco Gomez

2016-07-29 | Reuters
blog
external news
our news

The Banking Crisis in Spain is Back

2016-05-28 | Wolfstreet.com
blog
external news
our news

BANCO POPULAR JOINS THE EQUATOR PRINCIPLES

2013-05-20

Documents

Type:
Year:
annual reports
2018-07-27 00:00:00

Financial half year report 2017

2018-07-27 00:00:00 | Banco Popular Espanol
bank documents
2018-07-27 00:00:00

Annual governance report 2016

2018-07-27 00:00:00 | Banco Popular Espanol
annual reports
2017-07-27 00:00:00

Integrated Report 2016

2017-07-27 00:00:00 | Banco Popular Espanol
csr policies
2017-02-01 00:00:00

Corporate Responsibility Policy

2017-02-01 00:00:00 | Banco Popular Group
annual reports
2017-01-01 00:00:00

2016 Integrated Report

2017-01-01 00:00:00 | Banco Popular Group
csr policies
2016-12-20 00:00:00

Environmental Policy to fight against Climate Change

2016-12-20 00:00:00 | Banco Popular Group
annual reports
2016-03-23 00:00:00

Integrated Report 2015

2016-03-23 00:00:00 | Banco Popular
csr policies
2016-03-11 00:00:00

Anti-money laundering and terrorism financing combat policies

2016-03-11 00:00:00 | Banco Popular Group
annual reports
2016-02-26 00:00:00

Annual Report 2015

2016-02-26 00:00:00 | Banco Popular
bank documents
2015-06-01 00:00:00

Code of Conduct

2015-06-01 00:00:00 | Banco Popular Group
annual reports
2015-05-13 00:00:00

Integrated Report 2014

2015-05-13 00:00:00 | Grupo Banco Popular
annual reports
2015-04-07 00:00:00

Annual Report 2014

2015-04-07 00:00:00 | Banco Popular
bank documents
2012-04-16 00:00:00

Code of Conduct Suppliers

2012-04-16 00:00:00 | Banco Popular
bank documents
2011-12-31 00:00:00

UN Global Compact Communication on Progress (Español)

2011-12-31 00:00:00 | Banco Popular Español

Links

Finanzas Eticas

http://www.finanzaseticas.org/

BPE Yearly Global Compact Progress Reports

http://www.grupobancopopular.com/EN/cr/DocumentacioncR/Paginas/InformesProgreso.aspx

Banco popular Espanol: Corporate Responsibility webpage

http://www.grupobancopopular.com/EN/CR/Paginas/inicio.aspx

Banco popular Espanol: Pillar III Reports

http://www.grupobancopopular.com/EN/InvestorRelations/FinancialInformation/Paginas/InformeDeRelevanciaPrudencial.aspx

Policies

Voluntary initiatives

Banco Popular Español has committed itself to the following voluntary standards:
  • Carbon Disclosure Project
  • Global Reporting Initiative
  • United Nations Global Compact

Investment policies

Banco Popular Espanol's webpage on corporate social responsibility can be viewed here.

Year:
csr policies
2017-02-01 00:00:00

Corporate Responsibility Policy

2017-02-01 00:00:00 | Banco Popular Group
csr policies
2016-12-20 00:00:00

Environmental Policy to fight against Climate Change

2016-12-20 00:00:00 | Banco Popular Group
csr policies
2016-03-11 00:00:00

Anti-money laundering and terrorism financing combat policies

2016-03-11 00:00:00 | Banco Popular Group

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