Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/202550
Authors: 
Cuevas Casaña, Joaquim
Martín Aceña, Pablo
Pons Brias, María A.
Year of Publication: 
2019
Series/Report no.: 
eabh Papers 19-02
Abstract: 
This paper explores why Spanish banks internationalise and why Latin America has been the main region for the international expansion of BBVA and Santander. It shows that prior to 1986 Spanish banks had a limited presence abroad, and analyses the main drivers of this initial expansion (remittances and trade connections). However, from 1986 on, there was a confluence of domestic and external factors (economic and regulatory changes in Latin America) that encouraged the international forays of BBVA and Santander. The fact that changes in the Spanish and the Latin American financial sectors occurred just when other transnational banks were turning their attention to other regions created the optimal conditions for the expansion of Spanish banks in Latin America.
Subjects: 
Banking globalisation
Financial markets in Latin America
Spanish banks
JEL: 
G15
G21
N26
Document Type: 
Working Paper
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