Banco Atlántico
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1901 |
| Founder | José and Francisco Nonell y Feliu |
| Defunct | 2003 |
| Fate | Acquired by Banco Sabadell Group |
| Headquarters | Barcelona , Spain |
Area served | Spain and international locations including New York, Grand Cayman, Switzerland, Panama, Bahamas, Gibraltar, Monaco |
Key people | Claudio Güell y Churruca (Count of Ruiseñada) |
| Products | Private banking, financial services |
Number of employees | 172 branches (1983) |
| Parent | Banco Sabadell Group (from 2003) |
Banco Atlántico, S.A. was a financial institution headquartered in Barcelona that joined the Banco Sabadell Group in 2003.
History
The bank's origins date back to 1901 when José and Francisco Nonell y Feliu transferred their currency exchange enterprise from Cuba to Barcelona. Initially operating under the name Nonell, Rovira y Matas, the bank concentrated on directing funds repatriated from Cuba into domestic investments.
By 1917, the company had adopted the name Nonell Hermanos, later evolving into Banca Nonell during the 1920s. In 1946, control passed to Claudio Güell y Churruca, Count of Ruiseñada, who renamed the institution Banco Atlántico.
In 1961, ownership changed hands as new investors purchased the bank from Güell’s heirs. Subsequently, Continental Illinois Bank acquired a stake before the bank became part of Rumasa, a holding group led by José María Ruiz Mateos.
Banco Atlántico extended its international presence by opening an agency in New York in 1975, which remained active until 2001.
When Rumasa was nationalized by Spain’s Socialist government in 1983, Banco Atlántico was included among its assets. At that time, it ranked as Spain’s tenth-largest bank with 172 branches across the country, a New York agency, a Grand Cayman branch, subsidiaries in Switzerland and Panama, and offices spanning eight nations.
The following year, ownership transferred from the government to a consortium including the Arab Banking Corporation (ABC), BBVA, and Allianz. The bank enhanced its private banking services through subsidiaries located in the Bahamas, Gibraltar, and Monaco, while divesting its Swiss operations. Later on, Banco Exterior replaced BBVA and Allianz as shareholders.
In 1999, BBVA regained partial control after acquiring Argentaria, which held Banco Exterior.
Finally, in 2003, Banco Sabadell purchased Banco Atlántico for €1.5 billion, outbidding rivals such as Barclays Bank and Caixa Geral de Depositos.