Banco Popular Español

Founded in 1926, Banco Popular Español, S.A. grew to become the sixth largest banking group in Spain, with a significant focus on providing services to small and medium-sized enterprises (SMEs). For decades, it was a key player in the Spanish financial landscape, offering a full range of banking products, including retail banking, corporate banking, asset management, and insurance. Following the 2008 financial crisis, the bank struggled with a large portfolio of non-performing real estate assets. In June 2017, the European Central Bank declared the bank "failing or likely to fail," leading to a resolution action by the Single Resolution Board, which resulted in its acquisition by Banco Santander for a symbolic price of €1. All operations, branches, and customer accounts have since been fully integrated into Banco Santander.