How local conditions affect global banking: The case of BBVA and Santander
Joaquim Cuevas Casaña,
Pablo Martín Aceña and
María A. Pons Brias
No 19-02, eabh Papers from The European Association for Banking and Financial History (EABH)
This paper explores why Spanish banks internationalise and why Latin America has been the main region for the international expansion of BBVA and Santander. It shows that prior to 1986 Spanish banks had a limited presence abroad, and analyses the main drivers of this initial expansion (remittances and trade connections). However, from 1986 on, there was a confluence of domestic and external factors (economic and regulatory changes in Latin America) that encouraged the international forays of BBVA and Santander. The fact that changes in the Spanish and the Latin American financial sectors occurred just when other transnational banks were turning their attention to other regions created the optimal conditions for the expansion of Spanish banks in Latin America.
Keywords: Banking globalisation; Financial markets in Latin America; Spanish banks (search for similar items in EconPapers)
JEL-codes: G15 G21 N26 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban, nep-his and nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:zbw:eabhps:1902
Access Statistics for this paper
More papers in eabh Papers from The European Association for Banking and Financial History (EABH) Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().