The Financial Times once referred to Banca March as ‘an anomaly in the Spanish financial system’. Why?
Back in 2010, a story broke in the press concerning this Spanish bank. It was to do with a test; an exercise performed by the European Banking Authority to assess the financial strength of various banks. Of all those tested – and they are huge; think Santander, Sabadell, BBVA, Commerzbank, Lloyd’s & Co. – Banca March came out on top.
In summary, without going into detail about percentages and banking terminology, this small player in the financial world was proven to have far lower sovereign debts than all the big boys. Also, far from struggling with a colossal multi-billion property portfolio following the global crisis, Banca March was in possession of just €96m of real estate.
Clearly, this family-owned bank was built on a very different model from the others. Founded in 1926 in Palma, Banca March has kept a tight hold of its values for more than 90 years. Prudent, serious and ever faithful to its customers, it is an island institution far removed from the recklessness of some of its peers, and this is why its customers stay loyal, trusting in the integrity of their bank, Banca March.
Solid and solvent, the company spread from Mallorca to the Balearics, the Balearics to the peninsula, the peninsula to the Canary Islands, and from thereon to London and Luxembourg. Ambition, however, is always based on something far more assuring and aspirational than just business profit: joint growth with shareholders, clients, professionals and the society that welcomes it.
Banca March currently has the lowest delinquency ratio of the Spanish financial system and the highest solvency level. The strength of Banca March’s business model has also been recognised by the rating agency Moody’s, which has raised Banca March’s long-term debt rating to Baa1, one of the best.
At a time when it seems a story is always breaking about corruption in the banking world, how refreshing to see a bank adhering to its strong-held traditions. How Mallorcan – how Banca March.
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Banca March has been supporting people and businesses in Mallorca to manage their money and achieve financial success for more than 90 years. […] Banca March
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