Banca March
Banca March, S.A., (/mɑːk/) is a Spanish investment bank and financial services company headquartered in Palma and Madrid.
Headquarters in Madrid, Spain | |
| Company type | Family-owned |
|---|---|
| Industry | Banking financial services |
| Founded | 1926 |
| Headquarters | Av. d'Alexandre Rosselló, 8 07002 Palma |
Area served | Spain, mainly the Balearic and Canary islands |
Key people | Juan March y de la Lastra (Chairman) José Luis Acea Rodríguez (CEO) |
| Products | Private banking Retail banking Investment banking Investment management Private Equity |
| Revenue | €236.232 million (2019) |
Net income | €125.06 million (2019) |
| Total assets | €16.436 billion (2019) |
Number of employees | 1,889 (2019) |
| Parent | Corporación Financiera Alba |
| Website | bancamarch.es |
The bank was founded in 1926 by Juan March. In the beginning, its sphere of influence was limited to Majorca but it eventually grew to be the leading independent bank in the Balearic Islands. In 1974 it initiated an expansion onto the Spanish peninsula and in 1989 it began serious operations in the Canary Islands.
Since the beginning of the 21st century, March has continued to expand its operations in the Balearic and Canary Islands, has begun operations in the tourist destinations of Andalusia and is in the process of expanding its offices in Madrid, Barcelona, and London. The March family is a well known banking dynasty in Spain, sometimes mentioned alongside Europe's biggest banking families, the Rothschild and von Oppenheim dynasties.
The bank is remarked upon for its solvency. In 2010, March was deemed "the safest bank in Europe" by the 2010 European Union bank stress test.