Banco Etcheverría

{{Primary sources|date=March 2010}}

{{Infobox company

| name = Banco Etcheverría, S.A.

| logo = Banco Etcheverria oficina da Coruña.jpg

| caption =

| type = Sociedad Anónima

| genre =

| fate = Merged with NCG Banco, S.A.

| predecessor =

| successor = Abanca Corporación Bancaria, S.A

| foundation = Betanzos, Galicia (1717)

| founder = Juan Etcheverry

| defunct = 6 October 2014

| location_city = A Coruña

| location_country = Spain

| location =

| locations =

| area_served = Nationwide

| key_people = Javier Etcheverría, Chairman
Domingo Etcheverría, Vice-Chairman
Francisco Botas, CEO

| industry = Financial services

| products =

| services = {{unbulleted list|Private banking|Wealth management}}

| revenue =

| operating_income =

| net_income =

| aum =

| assets =

| equity =

| owner = Banesco Banco Universal S.A (44.73%)

| num_employees = 150 (2007)[http://www.eleconomista.es/mercados-cotizaciones/noticias/195811/04/07/Economia-Finanzas-Banco-Etcheverria-registro-un-beneficio-neto-de-295-millones-en-2006-un-427-mas.html www.eleconomista.es]

| parent =

| divisions =

| subsid =

| homepage = [http://www.bancoetcheverria.es/ www.bancoetcheverria.es]

| footnotes =

| intl =

}}

Banco Etcheverría was a Spanish bank. The family-owned bank was the oldest in the Spanish financial system, and the 11th oldest surviving bank in the world, older by over half a century than the Bank of Spain itself. It was founded in Betanzos, A Coruña (Spain) in 1717 by Juan Etcheverry (née Jean d’Etcheverry), a French businessman and tannery owner who had settled in Galicia.

His family inherited and continued the bank business through generations; the primitive Etcheverry transformed the surname to Etcheverría to adapt to Spanish spelling (although the standard Spanish spelling is now Echeverría). The name comes from the Basque surname Etxeberria, meaning "new house". In 1964 it became a sociedad anónima. Its current stockholders (Francisco Javier, Asunción, María Cruz and Magdalena Etcheverría de la Muela) are all from the Etcheverría family, except the Caixa Galicia savings bank, which bought a 37.12% stake in 2002 for 13.25 million euros.http://www.cadenanoroeste.com/buscavoz/ver_resultado.jsp?TEXTO=100000025651&lnk=12745,OPERATORIA,ETCHEVERRIA,24000,BANCA{{Dead link|date=April 2019 |bot=InternetArchiveBot |fix-attempted=yes }}

It had offices in all four Galician provinces, and in Madrid.{{Cite web |url=http://www.skaysolutions.com/aegama/p/home.php?seccion=noticias&id=115#115 |title=AEGAMA: Asociacion de Empresarios Gallegos en Madrid |access-date=2006-07-19 |archive-url=https://web.archive.org/web/20060523202358/http://www.skaysolutions.com/aegama/p/home.php?seccion=noticias&id=115#115 |archive-date=2006-05-23 |url-status=dead }} It specialized in personal banking and wealth management.http://www.cadenanoroeste.com/buscavoz/ver_resultado.jsp?TEXTO=1530898&lnk=MUELA,ETCHEVERRIA,CONVIRTIENDOSE,BANCA,ACCIONISTAS{{Dead link|date=April 2019 |bot=InternetArchiveBot |fix-attempted=yes }}

In December 2012 Venezuela's largest bank, Banesco, bought the largest stake in Banco Etcheverría by acquiring the 44.7% owned in the latter by nationalized Spanish bank Novagalicia Banco (NGB) and shares owned by the Etcheverría family.{{Cite web |url=http://www.bnamericas.com/news/banking/venezuelas-banesco-buys-majority-stake-in-spanish-bank-banco-etcheverria |title=Venezuela's Banesco buys majority stake in Spanish bank Banco Etcheverría - BNamericas |access-date=2012-12-26 |archive-date=2016-01-26 |archive-url=https://web.archive.org/web/20160126190934/http://www.bnamericas.com/news/banking/venezuelas-banesco-buys-majority-stake-in-spanish-bank-banco-etcheverria |url-status=dead }}

After Banesco's entry, the following table reflects the voting rights:

{{citation needed|date=October 2015}}

class="wikitable" ! Share-holder ! Rights to Vote

Banco Banesco | 44.73%

Domingo Etcheverría de la Muela | 12.63%

Mª Cruz Etcheverría de la Muela | 11.72%

Mª Magdalena Etcheverría de la Muela | 11.72%

Alberto Gómez Etcheverría | 5,01%

Mª Asunción Etcheverría de la Muela | 3,99%

In 2014, the bank was acquired by Abanca; ABANCA and Banco Etcheverría were merged into ABANCA Grupo Banesco.{{cite web | title=Aprobada la fusión de Accionistas de ABANCA y Banco Etcheverría | website=ABANCA | date=6 October 2014| url=https://comunicacion.abanca.com/gl/noticias/as-xuntas-de-accionistas-de-abanca-e-banco-etcheverria-aproban-a-fusion-das-duas-entidades | language=gl}}