Mare Nostrum Bank

Banco Mare Nostrum (BMN) was a Spanish bank established in 2010 through an Institutional Protection Scheme (SIP) that brought together four regional savings banks: Caja Granada, Caixa Penedès, Sa Nostra, and Caja Murcia. The bank operated primarily in Andalusia, Murcia, the Balearic Islands, and Catalonia. In November 2012, BMN sold its Catalonia and Aragon operations, comprising 461 branches, to Banco Sabadell. Shortly after, on 12 December 2012, Spain's bank restructuring fund (FROB) nationalized BMN, taking a 65% stake, with the remaining shares held by the original savings banks. In June 2017, the Spanish government announced the merger of Bankia with Banco Mare Nostrum, with the state holding majority stakes of 66% and 65% respectively. This merger allowed Bankia to expand its presence in Andalusia and the Balearic Islands for an equivalent of 825 million euros in shares. BMN ceased to exist as a separate entity following the merger.

Banco Mare Nostrum (BMN) was created in 2010 through a Sistema Institucional de Protección (SIP), a Spanish institutional protection scheme that allowed several savings banks (cajas de ahorros) to pool resources and operate as a single banking group while retaining some independence. The founding savings banks were Caja Granada, Caixa Penedès, Sa Nostra, and Caja Murcia. The new bank concentrated its operations in Andalusia, Murcia, the Balearic Islands, and Catalonia. In November 2012, BMN sold its Catalonia and Aragon business, including 461 branches, to Banco Sabadell. On 12 December 2012, the Fund for Orderly Bank Restructuring (FROB), Spain's bank restructuring fund, nationalized BMN by acquiring 65% of its capital; the remaining 35% stayed with the original savings banks. This nationalization was part of Spain's broader financial sector cleanup following the 2008 financial crisis. In June 2017, the Spanish government announced the merger of Bankia with Banco Mare Nostrum. At that time, the Spanish state held a 66% stake in Bankia and a 65% stake in BMN. The merger was valued at approximately 825 million euros in shares and was intended to allow Bankia to expand its presence in Andalusia and the Balearic Islands. The merger was completed, and BMN was absorbed into Bankia, ceasing to exist as a separate brand.

• 2017

  In June, the Spanish government announced the merger of Bankia with Banco Mare Nostrum.

• 2012

  In November, BMN sold its Catalonia and Aragon operations, including 461 branches, to Banco Sabadell.

• 2012

  On 12 December, FROB nationalized BMN, taking a 65% stake.

• 2010

  Banco Mare Nostrum created through a Sistema Institucional de Protección (SIP) grouping Caja Granada, Caixa Penedès, Sa Nostra, and Caja Murcia.

Regional Spanish bank focused on retail and commercial banking in Andalusia, Murcia, Balearic Islands, and Catalonia.

Product categories. Banking services · Savings accounts · Loans · Mortgages

1. 1Mare Nostrum Bank - Wikidatawikidata.org
2. 2Banco Mare Nostrum - Wikipedia (French)fr.wikipedia.org