Banco de España (Bank of Spain) is the central bank of Spain, founded in 1782 and headquartered in Madrid. As the country's central bank, it plays a key role in monetary policy making, financial stability maintenance, and banking supervision. Banco de España has been part of the European System of Central Banks (ESCB) and the Eurosystem since joining the Eurosystem in 1999. Since 2014, it has also been responsible for the supervision of the Spanish banking system as part of the European Single Supervisory Mechanism (SSM).
Basic information about the bank
Nature and ownership: Banco de España is a 100% state-owned public institution with an independent legal personality. In accordance with the 1994 Law on the Autonomous Banks of Spain, the Bank enjoys independence in the exercise of its functions and is not subject to instructions from the Government or other national or EU institutions.
Founded and headquartered: Founded in 1782, it is headquartered on Calle de Alcalá in Madrid. The building is one of the most iconic buildings in Madrid, rich in history and architectural value.
Shareholder Background: As the central bank of the country, Banco de España is not listed and its ownership is fully vested in the Spanish government.
Coverage <
ul style="list-style-type: disc" type="disc">Coverage area: Banco de España's services are mainly available throughout Spain. It has 15 branches throughout Spain, including major cities such as Barcelona, Seville, Valencia, and others.
Number of offline outlets: In addition to its headquarters in Madrid, Banco de España has 15 branches throughout the country, making it easy for the public to do business.
ATM distribution: As a central bank, Banco de España does not provide ATM services directly. Its main responsibilities include issuing currency, supervising the banking system, and maintaining financial stability.
Regulatory & Compliance
Regulator: Banco de España, as the central bank of the country, is responsible for the supervision of the Spanish banking system. In addition, it participates in the European System of Central Banks (ESCB) and the European Single Supervisory Mechanism (SSM), which co-supervises banks in the eurozone with the European Central Bank (ECB).
Deposit Insurance Program: Deposit insurance in Spain is covered by the Fondo de Garantía de Depósitos (Deposit Guarantee Fund). The fund guarantees each depositor up to €100,000 per bank.
Recent compliance record: According to Banco de España's Complaints Service data, a total of 56,400 complaints were received in 2024, of which about 80% were dismissed. Despite this, in the cases that Banco de España is authorized to deal with, its opinion is accepted by the bank in 80% of cases.
Financial health
capital adequacy ratio: According to the International Monetary Fund (IMF), as of June 2023, Spain's systemically important banks (SIs) have a CET1 ratio of 12.6%. IMF e-Library
Non-Performing Loan Ratio: During the same period, the non-performing loan ratio of Spain's systemically important banks was 3.0%, down 28 basis points from the previous quarter.
Liquidity Coverage Ratio: As of June 2023, the Liquidity Coverage Ratio (LCR) for systemically important banks in Spain is 182%, well above the minimum requirement. IMF e-Library
Deposit & Loan Products
As a central bank, Banco de España does not directly offer deposit or loan products to the public. Its main responsibilities include monetary policy formulation, maintenance of financial stability, and banking supervision.
List of common
feesBanco de España does not charge the public account management fees, transfer fees, or ATM withdrawal fees, etc. Its main services include currency exchange, handling damaged or counterfeit currency, and providing financial information, among others.
Digital Service Experience
APP & Online Banking: Banco de España offers a virtual office (Oficina Virtual) service where the public can submit requests and documents online. The service is available 24/7 all year round, unless there is a need to interrupt it for technical reasons.
Technological innovation: Banco de España is committed to transparency and public participation, providing online access to information and publishing research reports and statistics through its website.
Customer Service Quality
service channels: The public can access services through Banco de España's virtual office, by phone, or in person at its headquarters or branches.
Complaint Handling: Banco de España has a complaints service to deal with complaints from the public against regulated banks. In the cases it has the authority to handle, its opinion is accepted by the bank in 80% of the cases.
Multi-language support: Banco de España's website is available in Spanish and English, making it easy for users with different language backgrounds to access information.
Security measures
security of funds: Banco de España's headquarters has a highly secure vault, located 35 meters underground, equipped with multiple security measures, Includes an armored door weighing up to 16.5 tons and a flooding system to protect the country's gold reserves. Diario AS
Data Security: Banco de España is committed to protecting the security of user data, complying with relevant data protection regulations and taking the necessary technical and organizational measures to prevent data breaches.
Featured Services & Differentiation
market segments: Banco de España does not directly offer financial products to specific market groups, but is committed to improving the financial literacy of the public through its financial education programs.
High Net Worth Services: As a central bank, Banco de España does not provide private banking services. Its main responsibilities include monetary policy formulation, maintenance of financial stability, and banking supervision.
Market Position & Accolades
Industry ranking: As Spain's central bank, Banco de España occupies a central position in the country's financial system.
Awards: Banco de España has been recognized by national and international institutions for outstanding performance in its area of responsibility.
Banco de España plays a vital role in the Spanish financial system, maintaining financial stability, setting monetary policy, and supervising the banking system. Its independence and professionalism have given it a high reputation both at home and abroad.
