Banco Pastor

Banco Popular Pastor, S.A.

Company type	Sociedad Anónima
Traded as	BMAD:PAS
Industry	Financial services
Predecessor	Jaime Dalmau y Cía
Founded	1776(1776)A Coruña,Spain(1776(1776))
Founder	Jaime Dalmau Batista
Defunct	2011(2011)
Fate	Taken over byBanco Popular Español
Headquarters	A Coruña , Spain
Number of locations	558 branches
Area served	Nationwide
Key people	José María Arias Mosquera(CEO)
Products	Banking,insurance,asset management
Services	Commercial banking,Corporate banking
Number of employees	4,035 (2005)
Parent	Santander Group
Website	www.bancopastor.es

Main branch of the bank inVigo.

Banco Popular Pastor, S.A.was a Spanish bank. It was the second oldest banking institution in the country, afterBanco Etcheverría.It failed the European stress test in 2011 as a result of the2007–2008 financial crisisand was taken over byBanco Popular Español,which would later becomeSantander Bank.

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, 555branchesin Spain and 3 abroad.

History

Founded in 1776 by Jaime Dalmau Batista asJaime Dalmau y Cía(Jaime Dalmau and Company), who had a shipping company operating between theportofA Coruñaand several American ports.Galicianemigrantsused to send their savings back to Galicia through the shipping company, hence the need to manage all thatcapital.

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 toJosé Pastor.The business was passed down through generations of his descendants, changing its name toPastor Hermanos,José Pastor y Cía.andSobrinos de José Pastorsuccessively until 1925, when it became Banco Pastor and became aSociedad Anónima.

In 1939,Pedro Barrié de la Maza(one of the principal economic backers ofGeneral Franco'scoup d'étatreceived an economic tzar position inGaliciain 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,RenfeandFenosa,founded in 1943 by Barrié de la Maza. In 1971, following Barrié de la Maza's death, his widowCarmela Arias y Díaz de Rábagowas 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 byBanco Popular,but to be continued to be run as a separate entity.

External links

• Banco Pastor's commercial web siteArchived2008-07-13 at theWayback Machine
• Banco Pastor's corporate web site
• Source of some financial data
• Banco Pastor profile (in English)
• The Convertible bonds of Banco Pastor