Aquisição Banco Santander - Banespa

Abstract

According to Toni Sciarretta, Folha Online's Economics Coordinator, Banespa came up with the need to finance São Paulo's coffee culture at the beginning of the century. Initially named the São Paulo State Mortgage and Agricultural Credit Bank, the São Paulo state bank was founded on June 14, 1909. The title São Paulo State Bank was not adopted until 1926. Banespa began its "imperialism" in 1937, when opening its first agency in another state. It was the branch office of Campo Grande, in Mato Grosso do Sul. In 1968, it created Cabesp, the employee assistance fund, which in 2000 had about 15.5% of the bank's voting shares. Banespa was the chief engine of the governors. When the situation tightened, the Bandeirantes Palace forced the bank to buy securities issued by the state.