Banco de Espana, Madrid

4.0
#274 of 1,605 in Things to do in Madrid
The Bank of Spain, is the national central bank of Spain. Established in Madrid in 1782 by Charles III, today the bank is a member of the European System of Central Banks. It is the national supervisor of the Spanish banking system, and as such its activity is regulated by the Law of Autonomy of the Banco de España.HistoryOriginally named the Banco Nacional de San Carlos, it was founded in 1782 by Charles III, to stabilize government finances through its state bonds . Although it aided the state, the bank was initially owned privately by stockholders. Its assets included those of "Spanish capitalists, French rentiers, and surprisingly, several treasuries of Indian communities in New Spain" . Its first director was French banker François Cabarrus, known in Spain as Francisco Cabarrús.Following a series of wars between 1793 and 1814, the bank was owed more than 300 million reales by the state, placing it in financial difficulty.Treasury minister Luis López Ballesteros created a fund of 40 million reales in 1829 against which the bank could issue its own notes at Madrid. It did so after renaming itself Banco Español de San Fernando.In 1844 the competing Banco de Isabel II and Banco de Barcelona were established, followed in 1846 by the Banco de Cádiz. In 1847, following overexposure in the failing property market of Madrid, the Banco de Isabel II merged with Banco de San Fernando, retaining the latter name.
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Banco de Espana Reviews
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4.1
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  • Beautiful structure cared for and kept to perfection. Spectacular illuminated evening deserves a stop during the evening stroll at GRAN VIA
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  • The Bank of Spain is located in Madrid, the capital of Spain. It is a beautiful building located near Cibeles Square.
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  • This beautiful building belongs to the central Bank of Spain. It's located close to the Cibeles Fountain and opposite the slightly more impressive Madrid City Hall. The Bank of Spain building has an eclectic mix of architectural styles, but much of the façades contains many Neo-Classically elements. Well worth a quick stop especially if visiting the better known fountain.
  • This place has its amazing history during world wars, building is nice and takes you to medieval ages.
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