Banco Popular Pastor, S.A. was a Spanish bank. It was the second oldest banking institution in the country, after

Banco Etcheverría 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 itself. It was founded in Betanzos, ...

. The bank's main business activity was commercial banking, corporate banking, Internet and telephone banking, and treasury and capital markets. The bank had 4,035 employees as of 2005, 555

branches A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term ''twig'' usually r ...

in Spain and 3 abroad.

History

Founded in 1776 by Jaime Dalmau Batista as ''Jaime Dalmau y Cía'' (Jaime Dalmau and Company), who had a shipping company operating between the

port A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers. Although usually situated on a sea coast or estuary, ports can also be found far inland, such as H ...

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 ...

and several American ports. Galician

emigrants Emigration is the act of leaving a resident country or place of residence with the intent to settle elsewhere (to permanently leave a country). Conversely, immigration describes the movement of people into one country from another (to permanentl ...

used to send their savings back to Galicia through the shipping company, hence the need to manage all that capital. In 1819 José Pastor Taxonera became a partner in the company, and soon took control of the business. He bought it in 1845 and changed its name to ''José Pastor''. The business was passed down through generations of his descendants, changing its name to ''Pastor Hermanos'', ''José Pastor y Cía.'' and ''Sobrinos de José Pastor'' successively until 1925, when it became Banco Pastor and became a '' Sociedad Anónima''. In 1939, Pedro Barrié de la Maza (one of the principal economic backers of

General Franco Francisco Franco Bahamonde (; 4 December 1892 – 20 November 1975) was a Spanish general who led the Nationalist forces in overthrowing the Second Spanish Republic during the Spanish Civil War and thereafter ruled over Spain from 193 ...

coup d'état A coup d'état (; French for 'stroke of state'), also known as a coup or overthrow, is a seizure and removal of a government and its powers. Typically, it is an illegal seizure of power by a political faction, politician, cult, rebel group, m ...

received an economic tzar position in Galicia in exchange for his support) took full control of the bank and use it as a supporter of Galician business network control. At a national level it cooperated with Astano, Renfe and

Fenosa Fuerzas Eléctricas del Noroeste, S.A. (Fenosa) (; Northwest Electric Power) was a Spanish electric company based in A Coruña, Galicia. History Fenosa was founded in 1943 following the forced merger of ''Fábrica de Gas y Electricidad'', owne ...

, founded in 1943 by Barrié de la Maza. In 1971, following Barrié de la Maza's death, his widow Carmela Arias y Díaz de Rábago was appointed executive president of the bank, being the first woman to become president of a bank in Spain. In September 2001 she was succeeded by José María Arias Mosquera. In 2011, with the global financial crisis fully in effect, Banco Pastor was one of the few banks that failed the European stress test. On October 10, an agreement was reached for a takeover by Banco Popular, but to be continued to be run as a separate entity.

Notes

External links

Banco Pastor's commercial web siteBanco Pastor's corporate web siteSource of some financial dataBanco Pastor profile (in English)The Convertible bonds of Banco Pastor
{{Authority control Defunct banks of Spain Banks established in 1776 Companies based in Galicia (Spain) 1776 establishments in Spain