Bank of London and South America
| File:BOLSA.png | |
Native name | Banco de Londres y América del Sur |
|---|---|
| Company type | Subsidiary undertaking |
| Industry | Banking and financial services |
| Predecessor | London and River Plate Bank London and Brazilian Bank |
| Founded | 1923 |
| Defunct | Template:End date and age |
| Successor | Lloyds and Bolsa International Bank |
| Headquarters | , Argentina |
| Parent | Lloyds Bank Limited |
The Bank of London and South America Limited (BOLSA; , also known as Banco de Londres) was a British banking institution active in South America between 1923 and 1971.
Origins
The institution's forerunner, the London, Buenos Ayres and River Plate Bank (Banco de Londres, Buenos Ayres y Río de la Plata), was established in England on 27 September 1862 to conduct business in Buenos Aires. It expanded its presence throughout Argentina and underwent a name change in 1865 to become the London and River Plate Bank.
Operations were later extended into Uruguay, Brazil, and Chile. In 1918, the bank was acquired by Lloyds Bank Limited.
To prevent internal competition, Lloyds consolidated it with the London and Brazilian Bank in 1923, forming the Bank of London and South America (BOLSA). Throughout its existence, Lloyds retained a controlling interest.
History
In 1936, BOLSA acquired major assets from its principal rival, the Anglo-South American Bank, including Banco de A. Edwards, a prominent Chilean financial institution.
By 1958, BOLSA entered into a partnership with the Bank of Montreal, establishing the Bank of London and Montreal (BOLAM), with headquarters located in Nassau, Bahamas. BOLSA contributed its branches situated in Central America and northern South America. In 1970, BOLSA purchased its partners’ shares, reclaiming branches across Central America, Colombia, Ecuador, and Peru—except for Venezuelan locations, which had been closed by BOLAM in 1965.
In 1971, Lloyds increased its ownership stake in BOLSA to a controlling level and combined it with Lloyds Bank Europe, creating Lloyds and Bolsa International Bank.[1] This entity evolved into Lloyds Bank International in 1974 before being fully integrated into Lloyds Bank in 1986.[2] Banco de A. Edwards was sold to Midland Bank (currently part of HSBC) in 1987 and subsequently merged into Banco de Chile in 2001.
Headquarters
In 1966, the bank inaugurated a new headquarters located centrally in Buenos Aires. The building was designed by noted Argentine architect Clorindo Testa and stands as a significant example of brutalism within Argentine architectural heritage.
Collections
BOLSA entrusted its archive to University College London on an indefinite loan starting in 1969, a status reaffirmed by Lloyds Bank International in 1982. The collection comprises over one thousand volumes of letter books and financial records, featuring correspondence mainly associated with business activities in Uruguay, Brazil, Argentina, and Chile.