Banco Português do Atlântico
Finance and Insurance | |
Founded | 1942 |
---|---|
Founder | Arthur Cupertino de Miranda, António Cupertino de Miranda |
Defunct | 2000 |
Fate | Acquired by Banco Comercial Português |
Headquarters | , |
Products | Financial services |
Owner | Banco Comercial Português |
Subsidiaries | Banco Comercial de Angola (BCA), Bank of Lisbon and South Africa |
Website | bpa.pt |
Banco Português do Atlântico (BPA, English: Portuguese Bank of the Atlantic) was a Portuguese
History
In 1919, Arthur Cupertino de Miranda and his brother António opened a banking house called Casa Bancária Cupertino de Miranda & Irmão, Lda in Porto. It was renamed Banco Português do Atlântico in 1942.[1]
In 1950, BPA absorbed Banco Português do Continente e Ilhas (est. 21 June 1923 in Lisbon).
BPA established a 50-50 joint venture in 1957 in Angola, the Banco Comercial de Angola (BCA), sharing the ownership with Belgian Bank of Africa, an affiliate of Banque de Bruxelles. In 1971, Barclays Bank acquired an equity position in BCA, while BPA in turn took over Barclays' operations in Mozambique. In 1974, BCA's subsidiary in Macao became Banco Comercial de Macau, and a subsidiary of BPA. In time, Banco Comercial de Angola became the Mozambique government-owned bank Banco de Poupança e Crédito.
In 1965
Nationalization
The Portuguese government nationalized BPA on 14 March 1975.[4]
On 1 January 1977, BPA absorbed Banco do Algarve and Banco Fernandes Magalhães.[5] Banco do Algarve had been established on 18 March 1932 in Faro to reconstitute the operations of Casa Bancária de Manuel Dias Sancho. Banco Fernandes Magalhães had been established in 1954, in Oporto, as a successor to Casa Bancária Fernandes Magalhães, established in 1905).[6]
Re-privatization
In 1990 the Portuguese government started to privatize BPA in tranches.
In 1993 BPA established BPA Brasil. The bank came about when in February 1992 BPA bought the Royal Bank of Canada in Brazil. BPA also opened a branch in Maputo. BPA indirectly acquired control of Uniao de Bancos Portugueses (UBP), Portugal's 11th largest bank with 173 branches.[7]
In 1994, BPA opened a representative office in Caracas, and set up a subsidiary in the Cayman Islands, BPA Overseas Bank.
In 1997,
In 1998 Banco Central Hispano acquired BPA's local business is Spain as BCH was a partner of BCP. BPA had offices in Madrid, Vigo and Barcelona, with a balance sheet of 55m ptas.
In 2000, BCP received permission from the FDIC to establish BPA Bank in Newark, New Jersey.[8]
See also
References
- ^ a b "Founders". Cupertino de Miranda Foundation. Retrieved 2023-07-28.
- ^ "Bank of Lisbon and South Africa Limited - Meetings of the board of directors". www.bportugal.pt (in Portuguese). Retrieved 2023-07-28.
- ^ "Banco Raposo de Magalhães". www.bportugal.pt (in Portuguese). Retrieved 2023-07-28.
- ^ "Banco Português do Atlântico". www-bportugal-pt.translate.goog (in Portuguese). Retrieved 2023-07-28.
- ^ "Atlântico - Portuguese Atlantic Bank". Museu Virtual do Seguro. Retrieved 2023-07-28.
- ^ "Banco Fernandes Magalhães". www.bportugal.pt (in Portuguese). Retrieved 2023-07-28.
- ^ "Privatização da união de Bancos Portugueses" (in European Portuguese). Retrieved 2023-07-28.
- ^ "FDIC: Decisions on Bank Applications - BPA Bank, N.A." www.fdic.gov. Retrieved 2023-07-28.
External links
- Media related to Banco Português do Atlântico at Wikimedia Commons