Banco Popular Español was established on 24 July 1926, as a joint-stock company organised under the laws of Spain and is now the third banking group in Spain.

Banco Popular Group is the third financial group including six banks and several companies specialised in financing and portfolio management oriented towards SMEs and individual customers. The commercial banks as well as the investments bank are dedicated to satisfy the financial needs of its clients. The strategy of the group is based on efficiency and quality of the services offered to its clients.

At the end of 2009, the total balance sheet was 142,353 millions of euros and capital and reserves, 8,447 millions of euros.

The Group defines itself by:

Profitability: maximizing the ROE of 20 to 30% the last 20 years. At the end of 2009, the ROE was of 10.98%.
Efficiency: the Group has the best ratio of efficiency if the Spanish banking system and one of the best of European banks with 29.31%.

Strength between balance sheet and solvability, which leads Banco Popular to have the best rating of the Spanish banking system and one of the 5 highest rating of private bank in Europe.

Banco Popular has been highly qualified by the rating agencies. Its quality services are rated as being the highest in Spain and one of the highest in Europe.

The Group has 14,431 employees with 1,722 persons abroad who manage:

• A nationwide bank in Spain, Banco Popular Español; plus five regional brands in Spain, Banco de Andalucía, Banco de Castilla, Banco de Crédito Balear, Banco de Galicia and Banco de Vasconia;
• A bank specialised in mortgage financing, Banco Popular Hipotecario;
• A bank on the Internet, Bancopopular-e;
• A bank for private bank, Popular Banca Privada;
• A bank in Portugal, Banco Popular Portugal;
• A bank in the USA, Totalbank, and
• A group of financial societies specialised in asset management, investment fund and pension fund management, brokerage, factoring, leasing, renting, risk capital and insurance.

By virtue of Banco Popular's majority shareholdings or the management agreements with its affiliates, the group operates - to all intents and purposes - under a unified direction and management and with common technical and administrative services. The affiliated banks and other subsidiaries act as geographical or functional units forming part of the Banco Popular organisation, the only special differentiating features being those arising from the legal status of each.

At year-end 2009, Banco Popular Group had 2,419 branches, 251 of them are located in Portugal and in the USA.

Representative Offices and Delegations in Chile, China, Germany, Italy, Morocco and Switzerland.

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