EVO Banco, S.A.U. is a Spanish bank based in
Madrid
Madrid ( ; ) is the capital and List of largest cities in Spain, most populous municipality of Spain. It has almost 3.5 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 7 million. It i ...
.
EVO Banco was created by
NCG Banco on March 12, 2012 as a division that would operate its assets outside the
autonomous communities
The autonomous communities () are the first-level administrative divisions of Spain, created in accordance with the Spanish Constitution of 1978, with the aim of guaranteeing limited autonomy to the nationalities and regions that make up Spa ...
of
Galicia,
Asturias
Asturias (; ; ) officially the Principality of Asturias, is an autonomous communities of Spain, autonomous community in northwest Spain.
It is coextensive with the provinces of Spain, province of Asturias and contains some of the territory t ...
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 c ...
. 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 or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a Startup company, startup or of an existin ...
Apollo Global Management
Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. , the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capita ...
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 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.
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.
References
External links
;Official
Official website*
Banks based in Madrid
Banks established in 2013
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