EVO Banco

Last updated
EVO Banco, S.A.U
Company type Sociedad Anónima Unipersonal
Industry Financial services
Predecessor NCG Banco, S.A.
FoundedA Coruña, Spain (October 16, 2013 (2013-10-16))
Headquarters
Madrid
,
Spain
Number of locations
80 branches
Area served
Nationwide
Key people
José Luis Abelleira, CEO
Services
Owner Bankinter
Number of employees
590
Website www.evobanco.com

EVO Banco, S.A.U. is a Spanish bank based in Madrid.

Contents

EVO Banco was created by NCG Banco on March 12, 2012 as a division that would operate its assets outside the autonomous communities of Galicia, Asturias and the Province of León. As part of their launch campaign it introduced its main financial product: Cuenta Inteligente. [1] In the four initial weeks EVO Banco had managed to attract 8,290 clients and 70 million euros.[ citation needed ]

First acquisition

On September 9, 2013, NCG Banco announced that it would sell the EVO Banco division to the American private equity firm Apollo Global Management for 60 million euros. [2]

On October 16, 2013 EVO Banco, S.A. was established as a subsidiary of NCG Banco, S.A. [3]

Second acquisition

In May 2019, Spanish bank Bankinter acquired Evo Banco, incorporating its 452,000 clients. [4] In September 2019, it announced that, as of October 18, only the Madrid office would remain operational. [5]

In March 2021, it announced that, effective around May 1, it would relocate its only physical office and corporate headquarters to another location nearby. [6]

In June 2024, Bankinter announced that it would absorb Evo Banco, with the aim of enhancing the digital capabilities of the first entity, as well as reducing costs and improving profitability. [7]

References

  1. ↑ Novagalicia ya opera fuera de Galicia con la marca EVO Bank (in Spanish)
  2. ↑ NCG Banco vende EVO a la firma de capital riesgo Apollo por 60 millones (in Spanish)
  3. ↑ Official Gazette of the Commercial Registry. Retrieved 28 August 2024
  4. ↑ Alconada, Ángeles Gonzalo (2019-05-31). "Bankinter cierra la compra de EVO y su filial de consumo irlandesa por 65,8 millones". Cinco Días (in Spanish). Retrieved 2020-02-08.
  5. ↑ "Servicios Prescriptor y Medios de Pagos E.F.C., S.A.U - Quiénes somos". Archived from the original on 2022-07-01. Retrieved 2024-08-07.
  6. ↑ "EVO Banco se muda y estrenará nueva sede en mayo en el barrio Salamanca". El Español (in Spanish). 2021-03-17. Retrieved 2022-10-17.
  7. ↑ "Bankinter absorbe Evo Banco para mejorar su rentabilidad y ahorrar costes". EXPANSION (in Spanish). 2024-06-19. Retrieved 2024-06-20.
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