Banco Popular Espanol - 1872 dated 500 Pesetas Spain Bond - Spanish Banking Bond
Inv# FB5003 Bond
500 Pesetas. Coat of Arms vignette with blue underprinting, several rows of coupons. Early!!! Scarce!!!
Further research is needed as this predates the noted bank below.
Banco Popular Español, S.A., once the sixth-largest banking group in Spain, was acquired by Banco Santander as part of a rescue package in June 2017. Founded in 1926, Banco Popular Español (BPE) established a representative office in Paris in 1968, which later became a subsidiary. By 1991, this subsidiary had expanded to a network of 14 branches in France. In 1992, BPE converted its French subsidiary into a joint venture with Banco Comercial Português, forming Banco Popular Comercial. BPE further expanded its presence in Portugal by establishing a network of branches in 2000.
However, in 2002, BPE and Banco Comercial Português parted ways. Banco Popular Comercial became a wholly owned subsidiary of Banco Popular and changed its name to Banco Popular France. In Portugal, Banco Popular acquired Banco Nacional de Crédito (BNC) and transferred its existing branches to BNC. Later, in 2005, BNC underwent a name change and became Banco Popular Portugal. In 2007, BPE acquired a small bank in Southern Florida, United States of America, called TotalBank for US$300 million. TotalBank had 20 branches in Miami Dade County and employed over 400 people.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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