Banco Banespa — BrandWiki

Banco Banespa

Overview

Banespa

trade name	Banco do Estado de São Paulo S.A.
type	Public company
predecessor	Banco de Crédito Hipotecário e Agrícola do Estado de São Paulo
founded	January 14, 1909 in São Paulo, Brazil
defunct	November 20, 2000
fate	Acquired by Santander Brasil
successor	Santander Banespa
hq location	Rua João Brícola, 24 Sé São Paulo, Brazil
area served	Whole of São Paulo state
key people	José de Paiva Ferreira (CEO)
products	Bank services
revenue	R$ 406.7 million
revenue year	2000
net income	R$ 406.7 million
net income year	2000
assets	R$ 20.9 million
assets year	2000
num employees	37,200
num employees year	2000
parent	São Paulo State Government (1909–1996) Brazilian Federal Government (1996–2000) Santander Group (2000–2001)
website	http://www.banespa.com.br/

Banco Banespa was a Brazilian regional bank, founded in 1909 by the state government of São Paulo.[1] The bank was privatized in November 2000 by the government of former president Fernando Henrique Cardoso and sold to Spanish bank Santander.[2]

History

The bank was established in 1909 under the name Banco de Crédito Hipotecário e Agricultura de São Paulo to finance coffee production in the state. It was founded on the initiative of the then State Treasury Secretary Olavo Egydio de Souza Aranha.[3]

Initially, the bank was dominated by French investors led by Joseph Loste & Cie, with Banco do Comércio e Indústria de São Paulo holding the second-largest stake and the state government ranking third.[3]

Between 1923 and 1926, under Governor Altino Arantes, the institution was restructured: its bylaws were revised, its scope expanded to include industry and commerce, and it was renamed Banco do Estado de São Paulo.

Banco Banespa

History

Controversy

References