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91-939: The bank was founded as Banco de Bilbao, on May 28, 1857, in Bilbao. BBVA's operational headquarters are located in Madrid , in the Ciudad BBVA complex. It is Spain's second-largest bank after Banco Santander . It is listed on the Madrid Stock Exchange , the New York Stock Exchange and on the Mexican Stock Exchange . It is also a part of the IBEX 35 as well as the Dow Jones EURO STOXX 50 . As of December 31, 2023, BBVA's assets amounted to around €775 billion, making it

182-401: A 0.8 km (0.31 sq mi) periurban park as well as municipal garden centres and compost plants. Madrid has a cold semi-arid climate ( Köppen BSk ), transitioning to a Mediterranean climate (Csa) in the western half. The city has continental influences. Winters are cool due to its altitude, which is approximately 667 m (2,188 ft) above sea level and distance from

273-545: A 50% share in the bank in 1968, though the New York -based bank sold most of these to Alpargatas , a leading local industrial firm, a decade later. Despite the nation's economic woes during the 1980s, the Banco Francés expanded from 15 branches to 62 during the decade, and entered into a joint venture with Bankers Trust Company in 1986. Alpargatas sold its stake to local developer Eduardo Constantini in 1991, and entered into

364-711: A Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank . The history of BBVA began in 1857 in Bilbao , a city located in the Basque part of northern Spain, when the Board of Trade promoted the creation of Banco de Bilbao as an issuing and discount bank. Banco de Vizcaya was founded in 1901 and carried out its first operations in Bilbao. Little by little, it spread throughout

455-618: A combined market value, based on the share prices at the time, of 26.7 billion euros. Shortly after, both parties ended their talks after failing to agree on price. Later on in May 2024, BBVA presented a $ 13.11 billion takeover bid directly to Sabadell's shareholders. However, the Economy Ministry has the power to block any merger or acquisition of a bank, meaning that the Spanish government has six months to decide whether to block this takeover. In 2007,

546-510: A declaration of war calling all the Spaniards to fight against the French invaders. The city was invaded on 24 May 1823 by a French army—the so-called Hundred Thousand Sons of Saint Louis —called to intervene to restore the absolutism of Ferdinand that the latter had been deprived from during the 1820–1823 trienio liberal . Unlike other European capitals, during the first half of the 19th century

637-531: A number of monuments and cultural institutions. The reforms enacted by his Sicilian minister were however opposed in 1766 by the populace in the so-called Esquilache Riots , a revolt demanding to repeal a clothing decree banning the use of traditional hats and long cloaks aiming to curb crime in the city. In the context of the Peninsular War , the situation in French-occupied Madrid after March 1808

728-572: A private entity specialized in the mortgage business . In 2001, the implementation of the unified platform for all businesses and all countries was completed, and the BBVA brand was installed in the Group's entities in Latin America . In 2004, the banks of Chile (BHIF) and Colombia (Banco Ganadero) changed their commercial denomination and were simply called BBVA. In 2006, through a public auction, it acquired

819-579: A radial system of communications and transports for the country through public investments. Philip V built the Royal Palace, the Royal Tapestry Factory and the main Royal Academies. The reign of Charles III , who came to be known as "the best mayor of Madrid", saw an effort to turn the city into a true capital, with the construction of sewers, street lighting, cemeteries outside the city and

910-422: A second joint venture with Merrill Lynch in 1992. In December 1996, Spain 's Banco Bilbao Vizcaya, (now Banco Bilbao Vizcaya Argentaria ), acquired the 99.9% of the common shares of Otar S.R.L. , which was a major shareholder of Sud América Inversiones S.A. , and holder of over 30% of the capital of Banco Francés, hence the BBVA in its name. The bank announced in 2013 it would relocate its headquarters to

1001-518: A severe housing shortage. Slums and squalor grew due to high population growth and the influx of the poor to the city. Construction of affordable housing failed to keep pace and increased political instability discouraged economic investment in housing in the years immediately prior to the Civil War. Anti-clericalism and Catholicism lived side by side in Madrid; the burning of convents initiated after riots in

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1092-545: A starting point for Muslim offensives. After the disintegration of the Caliphate of Córdoba in the early 11th century, Madrid was integrated in the Taifa of Toledo . In the context of the wider campaign for the conquest of the taifa of Toledo initiated in 1079, Madrid was seized in 1083 by Alfonso VI of León and Castile , who sought to use the town as an offensive outpost against the city of Toledo, in turn conquered in 1085. Following

1183-750: A transported ancient Egyptian temple. Other urban parks are the Parque de El Capricho , the Parque Juan Carlos I (both in northeast Madrid), Madrid Río , the Enrique Tierno Galván Park  [ es ] , the San Isidro Park  [ es ] as well as gardens such as the Campo del Moro (opened to the public in 1978) and the Sabatini Gardens (opened to the public in 1931) adjacent to

1274-547: A venture capital fund specializing in financing projects and companies focused on climate change. In July 2022, BBVA joined the "Carbonplace" platform as a founder with the aim of facilitating access to carbon credits for individuals and companies. In 2023, the Dow Jones Sustainability Index (DJSI) awarded BBVA the highest score in the banking category in the European region for the fourth consecutive year. BBVA

1365-466: Is included in the IBEX 35 , the official index of the Spanish Continuous Market composed of the 35 most liquid stocks traded on continuous market. The BBVA has a market capitalization of 15,816 million euros (09-30-20) with a share value between 5 and 8 euros. Madrid Madrid ( / m ə ˈ d r ɪ d / mə- DRID ; Spanish: [maˈðɾið] )

1456-726: Is located on the hills next to the left bank of the Manzanares River. The city grew to the east, reaching the Fuente Castellana Creek  [ es ] (now the Paseo de la Castellana ), and further east reaching the Abroñigal Creek  [ es ] (now the M-30 ). The city also grew through the annexation of neighbouring urban settlements, including those to the South West on

1547-512: Is the capital and most populous municipality of Spain . It has almost 3.4 million inhabitants and a metropolitan area population of approximately 7 million. It is the second-largest city in the European Union (EU), and its monocentric metropolitan area is the second-largest in the EU. The municipality covers 604.3 km (233.3 sq mi) geographical area. Madrid lies on

1638-520: The 1960s Spanish economic boom , while the south-eastern periphery became a large working-class area, which formed the base for active cultural and political movements. After the fall of the Francoist regime, the new 1978 constitution confirmed Madrid as the capital of Spain. The 1979 municipal election brought Madrid's first democratically elected mayor since the Second Republic to power. Madrid

1729-677: The Plaza Mayor , the Royal Palace of Madrid ; the Royal Theatre with its restored 1850 Opera House; the Buen Retiro Park , founded in 1631; the 19th-century National Library building (founded in 1712) containing some of Spain's historical archives; many national museums, and the Golden Triangle of Art , located along the Paseo del Prado and comprising three art museums: Prado Museum ,

1820-587: The Reina Sofía Museum , a museum of modern art , and the Thyssen-Bornemisza Museum , which complements the holdings of the other two museums. The mayor is José Luis Martínez-Almeida from the People's Party . The origin of the name is unknown. There are various theories regarding the origin of the toponym "Madrid" (all of them with problems when it comes to fully explaining the phonetic evolution of

1911-535: The River Manzanares in the central part of the Iberian Peninsula at about 650 meters above mean sea level. The capital city of both Spain and the surrounding autonomous community of Madrid (since 1983), it is also the political, economic, and cultural centre of the country. The climate of Madrid features hot summers and cool winters. The primitive core of Madrid, a walled military outpost, dates back to

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2002-687: The Royal Spanish Academy (RAE), the Instituto Cervantes and the Foundation of Urgent Spanish ( Fundéu RAE). Madrid organises fairs such as FITUR, ARCO, SIMO TCI and the Madrid Fashion Week . Madrid is home to two world-famous football clubs, Real Madrid and Atlético Madrid . While Madrid possesses modern infrastructure, it has preserved the look and feel of many of its historic neighbourhoods and streets. Its landmarks include

2093-552: The arts all contribute to its status as one of the world's major global cities . Madrid is considered the major financial centre and the leading economic hub of the Iberian Peninsula and of Southern Europe . The metropolitan area hosts major Spanish companies such as Telefónica , Iberia , BBVA and FCC . It concentrates the bulk of banking operations in the country and it is the Spanish-speaking city generating

2184-560: The gentrification and the spike of tourist apartments in the city centre) and the profusion of betting shops in working-class areas, leading to an "epidemic" of gambling among young people. Madrid lies in the centre of the Iberian peninsula on the southern Meseta Central , 60 km south of the Guadarrama mountain range and straddling the Jarama and Manzanares river sub-drainage basins, in

2275-527: The revolt of the Comuneros , led by Juan Lopez de Padilla , Madrid joined the revolt against Charles, Holy Roman Emperor , but after defeat at the Battle of Villalar , Madrid was besieged and occupied by the imperial troops. The city was however granted the titles of Coronada (Crowned) and Imperial . The number of urban inhabitants grew from 4,060 in the year 1530 to 37,500 in the year 1594. The poor population of

2366-623: The 10 m (108 sq ft) per inhabitant recommended by the World Health Organization. A great bulk of the most important parks in Madrid are related to areas originally belonging to the royal assets (including El Pardo, Soto de Viñuelas, Casa de Campo, El Buen Retiro, la Florida and the Príncipe Pío hill , and the Queen's Casino). The other main source for the "green" areas are the bienes de propios  [ es ] owned by

2457-559: The Bourbon army on 4 August 1706. The Habsburg army led by the Archduke Charles entered the city for a second time  [ es ] in September 1710, leaving the city less than three months after. Philip V entered the capital on 3 December 1710. Seeking to take advantage of the Madrid's location at the geographic centre of Spain, the 18th century saw a sustained effort to create

2548-660: The City Council. They were the main infrastructure for the supply of water until the arrival of the Canal de Isabel II in the mid-19th century. Madrid derives almost 73.5 percent of its water supply from dams and reservoirs built on the Lozoya River , such as the El Atazar Dam . This water supply is managed by the Canal de Isabel II, a public entity created in 1851. It is responsible for

2639-532: The Garanti bank from Dogus Holdings for €1.988 billion, bringing its share to 39.9% of the entity. In February 2017, it reached a new purchase agreement with Dogus to acquire 9.95% more from Garanti bank for €859 million, increasing its participation to 49.85% . On November 15, 2021, BBVA offered to purchase the remaining 50.15% of shares in Garanti bank. In May 2022, BBVA reached a 86% stake in Garanti BBVA. In 2021

2730-509: The Madrid population temporarily plummeted accordingly). Being the capital was decisive for the evolution of the city and influenced its fate and during the rest of the reign of Philip II, the population boomed, going up from about 18,000 in 1561 to 80,000 in 1598. During the early 17th century, although Madrid recovered from the loss of the capital status, with the return of diplomats, lords and affluent people, as well as an entourage of noted writers and artists together with them, extreme poverty

2821-665: The Manzanares. Other large forested areas include the Soto de Viñuelas , the Dehesa de Valdelatas  [ es ] and the Dehesa de la Villa  [ es ] . As of 2015, the most recent big park in the municipality is the Valdebebas Park. Covering a total area of 4.7 km (1.8 sq mi), it is sub-divided in a 3.4 km (1.3 sq mi) forest park (the Parque forestal de Valdebebas-Felipe VI  [ es ] ),

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2912-588: The Provincial Bank, which had been founded in 1953. It also expanded its presence in Argentina with the acquisition of Banco de Credito Argentino. It also entered into the pension funds business in Bolivia, founding BBVA Previsión AFP. In 1998, the bank entered Chile after buying Banco BHIF, and AFP Provida one year later. It also entered Brazil with the purchase of Banco Excel-Econômico; and in Argentina, BBVA bought

3003-564: The Royal Palace. Further west, across the Manzanares, lies the Casa de Campo , a large forested area with more than 1700 hectares (6.6 sq mi) where the Madrid Zoo , and the Parque de Atracciones de Madrid amusement park are located. It was ceded to the municipality following the proclamation of the Second Spanish Republic in 1931. The Monte de El Pardo is the largest forested area in

3094-582: The US. In 2020, BBVA USA was sold to PNC Financial Services for US$ 11.6 billion. In 2010, the Group acquired 24.9% of the capital of Turkiye Garanti Bankasi AS , the second largest bank in Turkey, and reached an agreement with the Dogus Group — the reference shareholder of Garanti — to manage the entity jointly. Subsequently, this participation increased to 25.01%. In November 2014, BBVA acquired an additional 14.89% of

3185-620: The United States (Compass). Garanti Bank, the Group's franchise in Turkey , changed its name to Garanti BBVA. In January 2021, BBVA said that it was looking for plans to lower the costs, then in February 2021, it was reported that BBVA is planning to cut around 3000 jobs in Spain after a fall of 48% of its net profit in the fourth quarter of 2020. As of January 2023, BBVA had the following debt ratings with

3276-427: The aegis of a wider coordinated urban planning. Madrid grew through the annexation of neighboring municipalities, achieving the present extent of 607 km (234.36 sq mi). The south of Madrid became heavily industrialized, and there was significant immigration from rural areas of Spain. Madrid's newly built north-western districts became the home of a newly enriched middle class that appeared as result of

3367-497: The agricultural and less repopulated town of Madrid. After the decline of Sepúlveda , another concejo north of the mountain range, Segovia had become a major actor south of the Guadarrama mountains, expanding across the Lozoya and Manzanares rivers to the north of Madrid and along the Guadarrama river course to its west. In 1309, the Courts of Castile convened at Madrid for the first time under Ferdinand IV , and later in 1329, 1339, 1391, 1393, 1419 and twice in 1435. During

3458-459: The aim of continuing to create value. The new bank (BBVA) was born with a significant size, a strong financial solvency and a large financial structure, an adequate geographical diversification of business and risks and, as a consequence of all this, a greater potential for profit growth. After several years dedicated to external growth, BBVA takes advantage of the restructuring of the financial system in Spain to grow especially in Catalonia , one of

3549-435: The bank virtually opened in Italy. In 1932, the Economic Research Department was created to disseminate knowledge of financial matters among society. In May 2010, BBVA created BBVA Research, a platform that merges the Economic Research Department with the Global Market unit. In 1988, the BBVA Foundation was created to support and promote scientific research and cultural creation, the dissemination of culture and knowledge, and

3640-428: The city by 1956). A transitional planning intended to temporarily replace the shanty towns were the poblados de absorción , introduced since the mid-1950s in locations such as Canillas , San Fermín , Caño Roto, Villaverde , Pan Bendito  [ es ] , Zofío and Fuencarral , aiming to work as a sort of "high-end" shacks (with the destinataries participating in the construction of their own housing) but under

3731-440: The city in May 1931 worsened the political environment. However, the 1934 insurrection largely failed in the city. Madrid was one of the most heavily affected cities in the Spanish Civil War (1936–1939). It was a stronghold of the Republican faction from July 1936 and became an international symbol of anti-fascist struggle during the conflict. The city suffered aerial bombing, and in November 1936, its western suburbs were

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3822-469: The city proliferated. The following administrations, also conservative, led by Alberto Ruiz-Gallardón and Ana Botella launched three unsuccessful bids for the 2012, 2016 and 2020 Summer Olympics. By 2005, Madrid was the leading European destination for migrants from developing countries , as well as the largest employer of non-European workforce in Spain. Madrid was a centre of the anti-austerity protests that erupted in Spain in 2011. As consequence of

3913-441: The city's history as the capital of formerly imperial Spain. The intense demographic growth experienced by the city via mass immigration from the rural areas of the country led to the construction of abundant housing in the peripheral areas of the city to absorb the new population (reinforcing the processes of social polarization of the city), initially comprising substandard housing (with as many as 50,000 shacks scattered around

4004-430: The city. Precipitation is typically concentrated in the autumn, winter, and spring. It is particularly sparse during the summer, taking the form of about two showers and/or thunderstorms during the season. Madrid is the european capital with the least amount of annual precipitation. At the metropolitan scale, Madrid features both substantial daytime urban cool island and nighttime urban heat island effects during

4095-423: The conquest, Christians occupied the center of the city, while Muslims and Jews were displaced to the suburbs. Madrid, located near Alcalá (under Muslim control until 1118), remained a borderland for a while, suffering a number of razzias during the Almoravid period, and its walls were destroyed in 1110. The city was confirmed as villa de realengo  [ es ] (linked to the Crown) in 1123, during

4186-445: The country. In 1988, the merger agreement between Banco de Bilbao and Banco de Vizcaya was signed. And in 1989, the BBV brand was adopted. In 1991, the Spanish government of Felipe González created the public bank Argentaria, grouping in it the Spanish public banks. Subsequently, between 1993 and 1998 the process of privatization of the entity was carried out. BBV and Argentaria announced their merger project on October 19, 1999, with

4277-421: The court was composed of ex-soldiers, foreigners, rogues and Ruanes, dissatisfied with the lack of food and high prices. In June 1561 Phillip II set his court in Madrid, installing it in the old alcázar . Thanks to this, the city of Madrid became the political centre of the monarchy, being the capital of Spain except for a short period between 1601 and 1606, in which the Court was relocated to Valladolid (and

4368-400: The environmental value. During the reign of Ferdinand VII the regime of hunting prohibition for the Monte de El Pardo became one of full property and the expropriation of all possessions within its bounds was enforced, with dire consequences for the madrilenians at the time. It is designated as Special Protection Area for bird-life and it is also part of the Regional Park of the High Basin of

4459-424: The existence of an established settlement in Madrid dates from the Muslim age. In the second half of the 9th century, Umayyad Emir Muhammad I built a fortress on a headland near the river Manzanares as one of the many fortresses he ordered to be built on the border between Al-Andalus and the kingdoms of León and Castile , with the objective of protecting Toledo from the Christian reconquests and also as

4550-413: The financial capitals of Europe, America and Asia. Likewise, the bank initiated a policy of expansion in America through the purchase of local banks in various countries of the continent. In 2019 the Bank changed its name to BBVA, dropping local brand names in Argentina ( Francés ), Mexico ( Bancomer ), Peru ( Continental ), and the United States ( Compass ). In addition to the rebranding, Garanti in Turkey

4641-579: The financial inclusion and health of one million people and promoting sustainable development and investment. BBVA's link to sustainability and sustainable finance began in 2007, when it became one of the banks to participate in the first green bond issued by the EIB. In 2021, BBVA joined, as one of the 43 founding members, the "Net-Zero Banking Alliance" initiative, promoted by the United Nations to encourage banks' lending and investment portfolios to be net zero in greenhouse gas emissions by 2050. In March 2022, BBVA invested 18.5 million euros in "LowerCarbon",

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4732-402: The firm started an initiative to digitally transform the bank. Following implementation, it saw a 19% year-on-year increase in new customers. As of 2015, the total number of these clients stood at 14.8 million. In 2019, BBVA decides to unify its brand worldwide and introduces a new logo. This meant the disappearance of local names in Argentina (Francés), Mexico (Bancomer), Peru (Continental), and

4823-407: The first in the world to contribute to gender equality. May 27, 2014 established BBVA Credit. Inc., Financial service with branch at 875W, Deer Valley Phoenix, Arizona, 85027, United States. In March 2022, in line with the European Commission and OECD's framework for financial competence for adults in the European Union, BBVA implements a plan to promote financial education programs aimed at improving

4914-404: The four major rating agencies: The international presence of BBVA began in 1902, when the Banco de Bilbao opened a branch in Paris and in 1918 another in London , thus becoming the first Spanish bank with a presence abroad. In the 1970s, Banco de Bilbao, Banco de Vizcaya and Banco Exterior were configured as international groups, with the installation of operational and representative offices in

5005-430: The frequent heat waves. Due to Madrid's altitude and dry climate, humidity is low and diurnal ranges are often significant, particularly on sunny winter days when the temperature rises in the afternoon before rapidly plummeting after nightfall. Madrid is among the sunniest capital cities in Europe. The highest recorded temperature was on 14 August 2021, with 40.7 °C (105.3 °F) and the lowest recorded temperature

5096-453: The homes of the influx of workers, while Ensanche became a middle-class neighbourhood of Madrid. The Spanish Constitution of 1931 was the first to legislate the location of the country's capital, setting it explicitly in Madrid. During the 1930s, Madrid enjoyed "great vitality"; it was demographically young, becoming urbanized and the centre of new political movements. During this time, major construction projects were undertaken, including

5187-415: The insurer Consolidar, created in 1994. In 2000, the merger of BBV Probursa with Bancomer occurred in Mexico to create BBVA Bancomer , the first bank in the country by volume of assets. At the beginning of 2004, the Group announced the takeover bid for 100% of the shares of Bancomer that did not yet belong to BBVA, buying all the shares of the Mexican bank. In 2004 it acquired 100% of Hipotecaria Nacional,

5278-442: The largest number of webpages. Madrid houses the headquarters of the UN 's World Tourism Organization (UNWTO), the Ibero-American General Secretariat (SEGIB), the Organization of Ibero-American States (OEI), and the Public Interest Oversight Board (PIOB). It also hosts major international regulators and promoters of the Spanish language: the Standing Committee of the Association of Spanish Language Academies, headquarters of

5369-536: The late 9th century, under the Emirate of Córdoba . Conquered by Christians in 1083 or 1085, it consolidated in the Late Middle Ages as a sizeable town of the Crown of Castile . The development of Madrid as administrative centre fostered after 1561, as it became the permanent seat of the court of the Hispanic Monarchy . The Madrid urban agglomeration has the fourth-largest GDP in the European Union and its influence in politics , education , entertainment , environment , media , fashion , science , culture , and

5460-442: The latter's confluence with the Fuente Castellana thalweg in the south of the city. The Monte de El Pardo (a protected forested area covering over a quarter of the municipality) reaches its top altitude (843 m (2,766 ft)) on its perimeter, in the slopes surrounding El Pardo reservoir  [ es ] located at the north-western end of the municipality, in the Fuencarral-El Pardo district. The oldest urban core

5551-418: The legal trademark would be renamed Scotiabank Azul until its full integration with Scotiabank. The total change was made in October 2018. In 2004, the Group began another line of international expansion with entry into the US market, with acquisitions of entities in the south of the country ( Sunbelt region ), taking advantage of the strength of its Mexican subsidiary BBVA Bancomer . In the second quarter of

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5642-528: The moderating effect of the sea. While mostly sunny, rain, sporadic snowfalls and frequent frosts can occur between December and February with cooler temperatures particularly during the night and mornings as cold winds blow into the city from surrounding mountains. Summers are hot and sunny, in the warmest month, July, average temperatures during the day range from 32 to 34 °C (90 to 93 °F) depending on location, with maxima commonly climbing over 35 °C (95 °F) and occasionally up to 40 °C during

5733-403: The municipality (including the Dehesa de la Villa, the Dehesa de Arganzuela or Viveros). El Retiro is the most visited location of the city. Having an area bigger than 1.4 km (0.5 sq mi) (350 acres), it is the largest park within the Almendra Central , the inner part of the city enclosed by the M-30. Created during the reign of Philip IV (17th century), it was handed over to

5824-407: The municipality in 1868, after the Glorious Revolution. It lies next to the Royal Botanical Garden of Madrid . Located northwest of the city centre, the Parque del Oeste ("Park of the West") comprises part of the area of the former royal possession of the "Real Florida", and it features a slope as the height decreases down to the Manzanares. Its southern extension includes the Temple of Debod ,

5915-404: The municipality. A holm oak forest covering a surface over 16,000 hectares, it is considered the best preserved mediterranean forest in the Community of Madrid and one of the best preserved in Europe. Already mentioned in the Alfonso XI 's Libro de la montería  [ es ] from the mid-14th century, its condition as hunting location linked to the Spanish monarchy help to preserve

6006-409: The name " BBVA Compass ". In 2009, it acquired the Guaranty Bank in Texas, following the collapse of this entity. In 2014, BBVA acquired the US digital banking company Simple for 117 million dollars. In its push towards a digital future in 2015 acquired the California company Spring Studio, specializing in user experience and digital design. By 2018, BBVA USA was one of the 30 largest banks in

6097-413: The northern extension of the Paseo de la Castellana , one of Madrid's major thoroughfares. The tertiary sector, including banking, insurance and telephone services, grew greatly. Illiteracy rates were down to below 20%, and the city's cultural life grew notably during the so-called Silver Age of Spanish Culture; the sales of newspapers also increased. Conversely, the proclamation of the Republic created

6188-520: The old savings and housing corporation, Banco Granahorrar de Colombia, whose shares belonged to the Grancolombian group, and with the financial and economic crisis of the late 90s, it passed into the hands of the state through Fogafin. Later, it merged with BBVA Colombia, creating one of the largest banking groups in the country. In 2017 BBVA acquired the Mexican company Openpay, a startup fintech specializing in online payments. As of July 6, 2018 Scotiabank Chile assumed control of BBVA Chile, with which

6279-618: The only noticeable bourgeois elements in Madrid (that experienced a delay in its industrial development up to that point) were merchants. The University of Alcalá de Henares was relocated to Madrid in 1836, becoming the Central University . The economy of the city further modernized during the second half of the 19th century, consolidating its status as a service and financial centre. New industries were mostly focused in book publishing, construction and low-tech sectors. The introduction of railway transport greatly helped Madrid's economic prowess, and led to changes in consumption patterns (such as

6370-418: The purchase of Probursa, which later merged with BBVA Bancomer to form the financial group BBVA Bancomer that operates in the banking and insurance sector. In 1996, it entered Colombia with the acquisition of Banco Ganadero, and Argentina with the acquisition of BBVA Francés . It also made new acquisitions in Mexico, buying Banca Cremí and Banco de Oriente. In 1997, BBVA entered Venezuela by acquiring

6461-455: The recognition of talent through various awards, grants and scholarships. In 2007, BBVA set up the Microfinance Foundation in Latin America, a non-profit organization created with the aim of promoting the sustainable development of entrepreneurs in vulnerable situations. In 2021, the Organization for Economic Cooperation and Development (OECD) recognized the BBVA Microfinance Foundation as the first to contribute to development in Latin America and

6552-535: The regions where it had the lowest market share. To this end, it acquired between 2012 and 2014 the two financial groups nationalized by the Government of Spain (Unnim Banc and Catalunya Banc ), which grouped 6 Catalan savings banks. In 2020, BBVA entered into negotiations with smaller competitor Sabadell to create Spain's second-biggest domestic lender by assets; according to Reuters , the bank would have nearly 600 billion euros ($ 710.52 billion) in assets in Spain and

6643-498: The reign of Alfonso VII . The 1123 Charter of Otorgamiento established the first explicit limits between Madrid and Segovia, namely the Puerto de El Berrueco and the Puerto de Lozoya. Beginning in 1188, Madrid had the right to be a city with representation in the courts of Castile. In 1202, Alfonso VIII gave Madrid its first charter to regulate the municipal council, which was expanded in 1222 by Ferdinand III . The government system of

6734-437: The rest of the country, a heroin crisis took a toll in the poor neighborhoods of Madrid in the 1980s. Benefiting from increasing prosperity in the 1980s and 1990s, the capital city of Spain consolidated its position as an important economic, cultural, industrial, educational, and technological centre on the European continent. During the mandate as Mayor of José María Álvarez del Manzano construction of traffic tunnels below

6825-419: The right bank of the Manzanares. Madrid has the second highest number of aligned trees in the world, with 248,000 units, only exceeded by Tokyo. Madrid's citizens have access to a green area within a 15-minute walk. Since 1997, green areas have increased by 16%. At present, 8.2% of Madrid's grounds are green areas, meaning that there are 16 m (172 sq ft) of green area per inhabitant, far exceeding

6916-591: The scene of an all-out battle. The city fell to the Francoists in March 1939. A staple of post-war Madrid ( Madrid de la posguerra ) was the widespread use of ration coupons . Meat and fish consumption was scarce, resulting in high mortality due to malnutrition. Due to Madrid's history as a left-wing stronghold, the right-wing victors considered moving the capital elsewhere (most notably to Seville ), but such plans were never implemented. The Franco regime instead emphasized

7007-408: The second-largest Spanish financial institution by volume of assets. At that same date, it had 5,949 offices, 121,488 employees and 71.5 million customers, and was present in more than 30 countries. On April 2, 2018, it was ranked the 42nd largest bank in the world by total assets. In 2022 BBVA was recognized as the country's overall best-performing bank by The Banker . BBVA has been designated as

7098-492: The spillover of the 2008 financial and mortgage crisis , Madrid has been affected by the increasing number of second-hand homes held by banks and house evictions . The mandate of left-wing Mayor Manuela Carmena (2015–2019) delivered the renaturalization of the course of the Manzanares across the city. Since the late 2010s, the challenges the city faces include the increasingly unaffordable rental prices (often in parallel with

7189-423: The substitution of salted fish for fresh fish from the Spanish coasts) as well as further strengthening the city's role as a logistics node in the country's distribution network. Electric lighting in the streets was introduced in the 1890s. During the first third of the 20th century the population nearly doubled, reaching more than 850,000 inhabitants. New suburbs such as Las Ventas, Tetuán and El Carmen became

7280-604: The summer season in relation to its surroundings, which feature thinly vegetated dry land. In the 17th century, the viajes de agua (a kind of water channel or qanat ) were used to provide water to the city. Some of the most important ones were the Viaje de Amaniel  [ es ] (1610–1621, sponsored by the Crown), the Viaje de Fuente Castellana  [ es ] (1613–1620) and Abroñigal Alto  [ es ] / Abroñigal Bajo  [ es ] (1617–1630), sponsored by

7371-414: The supply, depurating waste water and the conservation of all the natural water resources of the Madrid region. The population of Madrid has overall increased since the city became the capital of Spain in the mid-sixteenth century, and has stabilised at approximately 3,000,000 since the 1970s. From 1970 until the mid-1990s, the population dropped. This phenomenon, which also affected other European cities,

7462-570: The toponym), namely: Nicknames for Madrid include the plural Los Madriles and La Villa y Corte ( lit.   ' the town and court ' ). The site of modern-day Madrid has been occupied since prehistoric times, and there are archaeological remains of the Celtic Carpetani settlement, Roman villas , a Visigoth basilica near the church of Santa María de la Almudena and three Visigoth necropolises near Casa de Campo, Tetuán and Vicálvaro. The first historical document about

7553-535: The town was changed to a regimiento of 12 regidores by Alfonso XI on 6 January 1346. Starting in the mid-13th century and up to the late 14th century, the concejo of Madrid vied for the control of the Real de Manzanares territory against the concejo of Segovia , a powerful town north of the Sierra de Guadarrama mountain range, characterised by its repopulating prowess and its husbandry-based economy, contrasted with

7644-429: The wider Tagus River catchment area. With an average altitude of 650 m (2,130 ft), Madrid is the second highest capital of Europe (after Andorra la Vella ). The difference in altitude within the city proper ranges from the 700 m (2,297 ft) around Plaza de Castilla in the north of city to the 570 m (1,870 ft) around La China wastewater treatment plant on the Manzanares' riverbanks, near

7735-651: The year, the Group announced the purchase of Valley Bank in California through BBVA Bancomer. In 2005, it bought the Banco Laredo (located in Texas ), and in 2006 the Texas Regional Bancshares ( Texas State Bank ). In 2007, BBVA acquired Alabama Compass Bank in the US, strengthening its franchise in that country. Later, BBVA unified its corporate image in the country by reorganizing its entire portfolio of brands under

7826-592: Was becoming more and more tense. On 2 May, a crowd began to gather near the Royal Palace protesting against the French attempt to evict the remaining members of the Bourbon royal family to Bayonne , prompting up an uprising against the French Imperial troops that lasted hours and spread throughout the city, including a famous last stand at the Monteleón barracks. Subsequent repression was brutal, with many insurgent Spaniards being summarily executed . The uprising led to

7917-688: Was caused in part by the growth of satellite suburbs at the expense of the downtown region within the city proper. BBVA Argentina BBVA Argentina , formerly BBVA Banco Francés , is a financial institution in Argentina . Founded on October 14, 1886, in Buenos Aires as Banco Francés del Río de la Plata (English: French Bank of the River Plate ), it is the oldest private bank in Argentina. Its Beaux-Arts headquarters, designed by Jorge Bunge, were inaugurated in 1926. Morgan Guaranty Trust acquired

8008-509: Was however rampant. The century also was a time of heyday for theatre, represented in the so-called corrales de comedias . The city changed hands several times during the War of the Spanish Succession : from the Bourbon control it passed to the allied "Austracist" army with Portuguese and English presence that entered the city in late June 1706  [ es ] , only to be retaken by

8099-542: Was on 16 January 1945 with −10.1 °C (13.8 °F) in Madrid. While at the airport, in the eastern side of the city, the highest recorded temperature was on 24 July 1995, at 42.2 °C (108.0 °F), and the lowest recorded temperature was on 16 January 1945 at −15.3 °C (4.5 °F). From 7 to 9 January 2021 , Madrid received the most snow in its recorded history since 1904; Spain's meteorological agency AEMET reported between 50 and 60 cm (20 and 24 in) of accumulated snow in its weather stations within

8190-598: Was renamed Garanti BBVA . The Banco de Vizcaya acquired the Commercial Bank of Mayagüez in Puerto Rico in 1979, a bank founded in 1967 by a group of merchants and industrialists. When it became BBVA Puerto Rico, in 1992 it began a growth stage through acquisitions, which gave rise to BBVA Puerto Rico. In 1995, the group entered Peru , with the privatization and subsequent acquisition of Banco Continental, and in Mexico , with

8281-430: Was the scene of some of the most important events of the time, such as the mass demonstrations of support for democracy after the failed coup, 23-F , on 23 February 1981. The first democratic mayors belonged to the centre-left PSOE ( Enrique Tierno Galván , Juan Barranco Gallardo ). Since the late 1970s and through the 1980s Madrid became the center of the cultural movement known as la Movida . Conversely, just like in

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