EVO Banco, S.A.U. is a

Spanish Spanish might refer to: * Items from or related to Spain: ** Spaniards are a nation and ethnic group indigenous to Spain **Spanish language, spoken in Spain and many Latin American countries **Spanish cuisine Other places * Spanish, Ontario, Ca ...

bank based in

Madrid Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a metropolitan area population of approximately 6.7 million. It is the second-largest city in the European Union (EU), an ...

. EVO Banco was created by NCG Banco on March 12, 2012 as a division that would operate its assets outside the

autonomous communities In Spain, an autonomous community ( es, comunidad autónoma) is the first-level political divisions of Spain, political and administrative division, created in accordance with the Constitution of Spain, Spanish Constitution of 1978, with the aim o ...

Galicia Galicia may refer to: Geographic regions * Galicia (Spain), a region and autonomous community of northwestern Spain ** Gallaecia, a Roman province ** The post-Roman Kingdom of the Suebi, also called the Kingdom of Gallaecia ** The medieval King ...

Asturias Asturias (, ; ast, Asturies ), officially the Principality of Asturias ( es, Principado de Asturias; ast, Principáu d'Asturies; Galician-Asturian: ''Principao d'Asturias''), is an autonomous community in northwest Spain. It is coextensi ...

and the

Province of León León (, , ; ; ) is a province of northwestern Spain in the northern part of the Region of León and in the northwestern part of the autonomous community of Castile and León. About one quarter of its population of 463,746 (2018) lives in the ...

. As part of their launch campaign it introduced its main financial product: Cuenta Inteligente. In the four initial weeks EVO Banco had managed to attract 8,290 clients and 70 million euros.

First acquisition

On September 9, 2013, NCG Banco announced that it would sell the EVO Banco division to the American

private equity firm A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including le ...

Apollo Global Management for 60 million euros. On October 16, 2013 EVO Banco, S.A. was established as a subsidiary of NCG Banco, S.A.

Second acquisition

In May 2019, Spanish bank

Bankinter Bankinter, S.A. (), is a Spanish financial services company headquartered in Madrid. It has been listed on the Bolsa de Madrid since 1972, and is part of the Ibex35 Index. It was founded in 1965 as an industrial bank through a joint venture betwe ...

acquired Evo Banco, incorporating its 452,000 clients. In September 2019, it announced that, as of October 18, only the Madrid office would remain operational. In March 2021, it announced that, effective around May 1, it would relocate its only physical office and corporate headquarters to another location nearby.

References

External links

;Official
Official website
* Banks of Spain Companies based in Galicia (Spain) Banks established in 2013 {{Spain-bank-stub