Bankoa (stylized in all lowercase) is a traditional Spanish bank founded in 1975 and located in San Sebastián.[1]
The original name was the Banco Industrial de Guipúzcoa and worked as an industrial bank. In 1997, it was acquired by the Crédit Agricole, the name was changed to Bankoa, and it became a universal bank.[2]
In July 2020, Abanca and the Crédit Agricole group signed a preliminary agreement for the purchase of the latter's shares in Bankoa.[3]
On January 28, 2021, Abanca completed the purchase of Bankoa.[4] The Galician entity formalized the acquisition of 99.81% of Bankoa's capital for 122.4 million euros. To the owners of the remaining nearly 0.2% of the shares, Abanca offered 18.3 of its own shares for each share of Bankoa.[5]