Banco Etcheverría was a Spanish bank. The family-owned bank was the oldest in the Spanish financial system, and the 11th oldest surviving bank in the world, older by over half a century than the

Bank of Spain The Bank of Spain ( es, link=no, Banco de España) is the central bank of Spain. Established in Madrid in 1782 by Charles III of Spain, Charles III, today the bank is a member of the European System of Central Banks and is also Spain's national ...

itself. It was founded in Betanzos,

A Coruña A Coruña (; es, La Coruña ; historical English: Corunna or The Groyne) is a city and municipality of Galicia, Spain. A Coruña is the most populated city in Galicia and the second most populated municipality in the autonomous community and s ...

(

Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = ''Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , i ...

) in 1717 by Juan Etcheverry (née Jean d’Etcheverry), a

French French (french: français(e), link=no) may refer to: * Something of, from, or related to France ** French language, which originated in France, and its various dialects and accents ** French people, a nation and ethnic group identified with Franc ...

businessman and tannery owner who had settled in Galicia. His family inherited and continued the bank business through generations; the primitive Etcheverry transformed the surname to Etcheverría to adapt to Spanish spelling (although the standard Spanish spelling is now Echeverría). The name comes from the Basque surname

Etxeberria Etxeberria (, modern Basque spelling) is a Basque language placename and surname from the Basque Country in Spain and France, meaning 'the new house'. It shows one meaningful variant, Etxeberri (no Basque article ''–a'', 'the'), and a number o ...

, meaning "new house". In 1964 it became a ''sociedad anónima''. Its current stockholders (Francisco Javier, Asunción, María Cruz and Magdalena Etcheverría de la Muela) are all from the Etcheverría family, except the

Caixa Galicia Caixa de Aforros de Galicia, Vigo, Ourense e Pontevedra (trading as Novacaixagalicia) was the name of a short-lived Spanish savings bank based in Galicia. It was created following the forced merger of the two major savings banks in the region, Ca ...

savings bank, which bought a 37.12% stake in 2002 for 13.25 million euros. It currently has offices in all four Galician provinces as well as in

Madrid Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a metropolitan area population of approximately 6.7 million. It is the second-largest city in the European Union (EU), and ...

. The bank has specialized in personal banking and wealth management. In December 2012, Venezuela's largest bank, Banesco, announced it has bought a majority stake in Banco Etcheverría by acquiring the 44.7% owned in the latter by nationalized Spanish bank Novagalicia Banco (NGB) as well as shares owned by the Etcheverría family. After Banesco's entry, the following table reflects the voting rights: In 2014, the bank was acquired by NCG Banco.

References

Banco Etcheverría siteNews about Banco Etcheverría
Defunct banks of Spain Banks established in 1717 Companies based in Galicia (Spain) 1717 establishments in Spain {{Spain-bank-stub