Abanca opens fist branch in Miami
The Spanish financial institution is the first foreign bank that receives a license from the Federal Reserve to operate in the United States in approximately 10 years
Abanca opened its first branch in the United States, specifically in Miami, with Mónica Vázquez as director. Its president, the Venezuelan Juan Carlos Escotet, said the initiative represents “a strategy of accompaniment of its Spanish, Portuguese and Latin American clients“. He also referred to the constant growth of trade between Spain, the United States and Latin America.
The main bank in northwest Spain is the first foreign entity that receives a patent from the Federal Reserve to operate in the United States in ten years. The opening of the office reinforces its internationalization process.
Escotet said: “Miami is of great interest for us; we think that the city has become practically the capital of Latin America. The melting pot of Latin American nationalities here is coming together and at the same time it is a very interesting business platform for all of Europe “.
It should be noted that the retail business volume of Abanca is 82,713 million euros, approximately 93,200 million dollars and the commercial network extends to more than 800 offices in eleven countries. The entity addresses its national and international growth with an approximate capital of 17% reinforced after the last issues.
L.Sáenz
Source: Dinero
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