BBVA Banco Francés

BBVA Banco Francés continued ranking among the leading banks in Argentina, the Bank has been broadly recognized for its capacity to adequate itself to different and continuously changing markets’ conditions and requirements.

With over Ps. 19.5 billion assets under management as of December 31, 2007, and a deposits base of Ps. 15.1 billion, BBVA Banco Francés is one of the main provider of financial and non-financial services to the different markets’ segments, through a nationwide network of 232 consumer branch offices, 27 branch offices specialized in the middle-market segment and 4 branch offices for large corporate and institutional clients. At the same time the Bank has constantly worked in its distribution scheme, seeking to satisfy a stricter demand.

Furthermore, the Bank conducts capital markets and securities operations directly, in the over-the-counter market, and through a subsidiary, in the Buenos Aires Stock Exchange.

Banco Francés (from Rio de La Plata) was founded in Buenos Aires in 1886. For almost a century it provided banking services to large companies in Argentina. During the 80's, it expanded a network of branches throughout the country that enabled it to broaden its client base to include small and medium sized enterprises and individuals.

In December 1996, Banco Bilbao Vizcaya S.A. (currently Banco Bilbao Vizcaya Argentaria, "BBVA") acquired 99.90% of the capital stock of Otar S.R.L., majority shareholder of Sud América Inversiones S.A., which in turn owned 30.04% of the capital stock of Banco Francés. By the end of the fourth quarter of fiscal year 2007 BBVA owned 75.97 % of the Bank’capital stock.