The Spanish banking system offers a selection of banks to choose from, including private, state-owned, international, cooperative, and mobile banks in Spain. The banking industry in Spain, which had expanded significantly early in the 21st century, has shrunk since the 2008 crisis, with many regional savings banks either closing or merging with other banks.
The Spanish central monetary authority is Banco de España, which operates as the national supervisor of banks in Spain within the framework of the Eurozone‘s Single Supervisory Mechanism (SSM). Established in Madrid in 1782, Spain’s central bank is currently a member of the European System of Central Banks.
The Spanish banking system is fully incorporated with international financial markets and includes credit, stock and money markets, as well as markets for derivatives.
Spain has several big national high street banks (“bancos”), including banks that operate in other countries. The bigger banks in expat-populated cities are likely to have English-speaking services designed towards the needs of foreign nationals. The usual opening hours for banks in Spain is from 08:30-14:30.
The main Spanish banks are:
- Banco Santander
- Banco Bilbao Vizcaya Argentaria (BBVA)
- Banco de Sabadell
You can find several big-name multinational banks in Spain which have branches in major cities and towns. These banks have similar opening hours as Spanish banks and will normally offer a range of expat-friendly services. Some of the biggest international banks in Spain are:
- Deutsche Bank
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