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June 30, 2015 11:16 AM ET

Banks

Company Overview of Banco Mare Nostrum, S.A.

Company Overview

Banco Mare Nostrum, S.A. provides retail banking services to individuals, the self-employed, and SMEs in Spain. The company's deposit products include current accounts, demand deposits, savings accounts, fixed-term deposits, repos and other accounts, and time or notice deposits. It also offers mortgage-secured loans and credit facilities. The company offers its services through its network of offices and other supplementary channels. The company was incorporated in 2010 and is based in Madrid, Spain.

Paseo de Recoletos no. 17

Madrid,  

Spain

Founded in 2010

Key Executives for Banco Mare Nostrum, S.A.

Chief Executive Officer, Member of Management Committee, Managing Director, Director and Member of Executive Committee
Chairman, Member of Management Committee and Chairman of Executive Committee
Age: 67
Chief Financial Officer and Member of Management Committee
Vice Chairman of Management Committee
Vice Chairman of Management Committee
Compensation as of Fiscal Year 2014.

Banco Mare Nostrum, S.A. Key Developments

FROB Seeks Investors For BMN

Fondo de Reestructuracion Ordenada Bancaria (FROB) does not expect to sell its controlling stake in Banco Mare Nostrum, S.A. (BMN) in the short term, Luis de Guindos, Economy Minister said, though he added that it could look at seeking funds from private investors. BMN had been tipped to seek a stock market listing as soon as this year. De Guindos did not specify what route the possible investments in BMN would take. "The FROB will not sell immediately. What it is doing is looking at the possibility of giving more liquidity to private institutional investors," de Guindos said.

Banco Mare Nostrum Signs on Strategic Agreement with IBM to Transform and Optimize its Applications and IT Infrastructure

Banco Mare Nostrum and IBM announced an agreement to transform and optimize the bank's IT infrastructure and applications. IBM will help BMN improve the efficiency and flexibility of its technology and provide major access to IT innovation to help reinforce BMN's regional franchise and retail business. This will allow the bank to better focus on providing personal services to people who are self-employed and to small companies, as well as contribute to socio-economic progress in its Spanish region. The ten-year agreement is valued at approximately $300 million. Through this sourcing agreement, IBM and BMN will create a new company which will provide application management, maintenance and consolidate its IT infrastructure. More than 50 professionals from infoCaja will join the new company. As part of this agreement, BMN and IBM plan to develop a Banking Innovation Center which will join a network of IBM Banking Excellence Centers worldwide. This center will research transformation projects around mobility, Big Data, dynamic pricing, fraud management and risk management.

Banco Mare Nostrum, S.A. Presents at Nomura Financial Services Conference, London, Nov-21-2013

Banco Mare Nostrum, S.A. Presents at Nomura Financial Services Conference, London, Nov-21-2013 . Venue: 1 Angel Lane, London, Greater London, United Kingdom. Speakers: Ignacio Ezquiaga Domínguez, Director.

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