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Company History

Banco Arabe Espanol. S A. (ARESBANK) was incorporated on April 1st, 1975 with a subscribed stock  capital of 1.5 billion pesetas (equivalent US $ 25 millions).

 Audience granted by his Majesty King Juan Carlos I to the Board of Directors on the occasion of the fifth Anniversary of the Bank

 The founding shareholders were: 

 - Arab Financial Institutions: 

  •  LIBYAN ARAB FOREIGN BANK, with a share of 30%
  • KUWAIT FOREIGN TRADING CONTRACTING AND INVESTMENT CO., S.A.K, with a share of 30%

- Public Spanish Institutions:

  • INSTITUTO DE CRÉDITO OFICIAL, with a share of 9.33%
  • INSTITUTO NACIONAL DE INDUSTRIA, with a share of  7.33 %
  • BANCO EXTERIOR DE ESPAĂ‘A, S.A.,  with a share of 3.33 %

- Private Spanish Banks: 

  • BANCO ESPAĂ‘OL DE CRÉDITO, with a share of 3.33%
  • BANCO CENTRAL,S.A., with a share of 3.33%
  • BANCO HISPANO AMERICANO,S.A., with a share of 3.33%
  • BANCO DE BILBAO, S.A.,with a share of 3.33%
  • BANCO POPULAR,S.A., with a share of 3.33%
  • BANCO ATLANTICO, S.A.,with a share of 3.33%

From the year 1975 to 1985, there were several changes in the ownership structure of the bank. In 1985, CRÉDIT POPULAIRE D’ALGÉRIE joined the partnership in Aresbank with a share of 6% of the Capital. In the years 2006-2008, the company name was changed to ARESBANK, S.A. LIBYAN FOREIGN BANK acquired the shares of the other shareholders (except CRÉDIT POPULAIRE D’ALGÉRIE), and the capital of ARESBANK, S.A. was increased to € 300 Million.  

The current shareholders are:

 - LIBYAN FOREIGN BANK, with a share of 99.86%

- CRÉDIT POPULAIRE D'ALGÉRIE, with a share of 0.14%