|BBVA Banco Francés headquarters|
BBVA Banco Frances (NYSE: BFR) is an Argentina-based bank which operates as a subsidiary of Spanish BBVA. With Ps.39.0 billion (US$9.06 billion) in total assets, and a deposits base of Ps.29.2 billion (US$6.78 billion), BBVA Banco Frances is one of the main provider of financial and non-financial services to the different markets’ segments. The Bank has more than 650 ATMs and, as a member of the Banelco cooperative network, offers customers access to another 4,500 ATMs throughout Argentina. As of December 31, 2011, it had Ps.3.87 billion (US$0.9 billion) in stockholders’ equity.
Banco Frances was founded in Buenos Aires in 1886. For almost a century it provided banking services to large companies in Argentina. During the 80's, it expanded a network of branches throughout the country that enabled it to broaden its client base to include small and medium sized enterprises and individuals. In December 1996, Banco Bilbao Vizcaya S.A. (currently BBVA) acquired 99.90% of the capital stock of Otar S.R.L., majority shareholder of Sud América Inversiones S.A., which in turn owned 30.04% of the capital stock of Banco Frances. By the end of the third quarter of fiscal year 2009 BBVA owned 75.97% of the Bank’capital stock.
|Founded||1886, as Banco Francés del Río de la Plata|
|Total assets||US$9.06 billion (2011)|
|Revenue||US$1.0 billion (2010)|
|Net Income||US$281.4 million (2011)|
|Company Size||4,300 employees|
Buenos Aires, C1003- ABB