Banco Mapfre, S.A. was established as the banking division of the Spanish multinational insurance company, MAPFRE. Its primary mission was to provide a range of banking and financial services, including accounts, credit cards, consumer loans, and mortgages, leveraging the insurance group's extensive client base in Spain. The bank aimed to create synergies between insurance and banking products. In a strategic shift, MAPFRE agreed to sell its banking business to Banco Mediolanum, with the acquisition being completed in July 2023. Consequently, all operations, clients, and employees of Banco Mapfre have been integrated into Banco Mediolanum, and the Banco Mapfre brand has ceased to exist as a separate entity.

Founded in

Brazil