Banco Pastor

Banco Pastor, traded on the Madrid Stock Exchange under the symbol PAS and headquartered in La Coruna, is the seventh largest bank on the territory of Spain, with a network of 650 offices in the country and an extensive presence in the USA, South America and in some of Europe’s main financial centres. The bank is currently headed by José María Arias Mosquera, CEO, and has over four thousand employees. The institution was founded in 1776 by Jaime Dalmau Batista, who at that time had a fleet of merchant ships operating between La Coruna and several American ports. In 1845, the bank was acquired by José Pastor Taxonera who changed its name to Jose Pastor. In 1925, the bank became a corporation and was given its current name, Banco Pastor. The bank's main business activities involve commercial and corporate banking, online and telephone banking, along with treasury and capital markets.

Banco Pastor, S.A., together with its subsidiaries, provides a wide range of banking products and services, mainly in Spain. To their private clients, the team of the bank offers everyday banking services such as current and savings accounts, credit and debit cards, ATM services, as well as the full range of deposit products including demand, fixed, savings and term deposits, whereas its loan portfolio encompasses trade loans and secured loans, term loans, and overdrafts, along with mortgage and business loans. To its elderly clients, Banco Pastor offers tailored pension schemes, life and risk insurance, health insurance and home insurance plans.

To their business clients the bank has to offer a rich variety of investment services, market analysis and risk management services, as well as asset management, real estate management and financing services.

Under the harsh financial conditions of 2008, which caused the collapse of a financial giant like Lehman Brothers, Banco Pastor reported earnings of over 164 million euro. This year, it will be not too far fetched to assume that Banco Pastor has not only taken the road to recovery from the global financial downturn, but the body is currently the strongest private financial institution in Spain. For instance, the bank reported the highest core capital ratio in Spain for the second quarter of 2009. These positive results are accompanied by high efficiency, the bank showing the best cost-to-income ratio in the country and a good recurrent profitability. The operating profit of Banco Pastor has increased by over 17 percent. As of the outstanding liquidity – the latest report reads that the bank has solved its funding needs for the incoming year.

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