Aresbank, S.A., formerly known as Banco Arabe Español, S.A., is a Spanish bank incorporated on April 1, 1975.

Aresbank

The bank was created to foster economic cooperation between Arab countries and Spain through financing foreign trade, promoting investment, and attracting funds from Arab and international financial markets.

History

Aresbank was established with a subscribed capital of 1,500 million pesetas (equivalent to 25 million US dollars).

The founding shareholders included:

Arab Institutions: Libyan Arab Foreign Bank (30% stake) and Kuwait Foreign Trading Contracting & Investment Co., S.A.K. (30% stake).
Official Spanish Institutions: Instituto de Crédito Oficial (9.33% stake), Instituto Nacional de Industria (7.33% stake), and Banco Exterior de España, S.A. (3.33% holding).
Spanish Private Banking: Banco Español de Crédito, S.A. (3.33% stake), Banco Central, S.A. (3.33% stake), Banco Hispano Americano, S.A. (3.33% stake), Banco de Bilbao, S.A. (3.33% stake), Banco Popular, S.A. (3.33% stake), and Banco Atlántico, S.A. (3.33% stake).

In 2007, the bank changed its name to "ARESBANK, S.A.". The Libyan Foreign Bank increased Aresbank's capital to 200 million Euros after acquiring the shares held by the Kuwait Investment Company.

Operations

Aresbank is actively involved in various economic sectors and financial market activities both in and outside Spain. The bank contributes to financial cooperation between Spain and the MENA (Middle East and North Africa) region by funding foreign trade transactions, promoting investments, and raising funds from international financial markets. Aresbank's activities include all banking transactions allowed by Spanish law, except receiving funds from individuals.

Aresbank aims to be a leading bank in managing financial and foreign trade operations for national and international companies and the MENA area. The bank focuses on professionalism in providing valuable services and products to its customers.

Aresbank is registered at the Bank of Spain's Special Registry for Banks and Bankers under number 0136.

Financials

Key figures from Aresbank's financial statements as of December 31, 2023:

Issued capital: 300,001 (thousands of EUR)
Retained earnings: 33,513 (thousands of EUR)
Result for the period: 631 (thousands of EUR)
Total Equity: 333,454 (thousands of EUR)

Office Hours

Winter opening hours (1 October – 22 May): Monday – Thursday (8:00 – 17:00 CET), Friday (8:00 – 15:00 CET)
Summer timetable (23 May – 30 September): Monday – Friday (8:00 – 15:00 CET)