Lartaun de Azumendi

The early 1920s were overshadowed by the defeat of the Spanish army in Morocco in 1921. The battle that would become known as the "Disaster of Annual" represented the loss of Spain's dominions in the neighboring African country, and the fallout from the military debacle led to harsh criticism of the political regime, the military establishment and even the King himself.

The end of the colonial conflicts and their consequences opened the door to a new century with various sectors of Spain’s privileged classes showing renewed interest in the creation of new banks. Madrid, Barcelona and Bilbao continued to be the country’s main banking hubs, although the development of the financial industry’s business varied in each region.

Civil wars, banks that went almost as fast as they came, the brand-new issuing monopoly of the Bank of Spain, unrest in Spanish overseas territories… the later years of the 19th century sure did look challenging for institutions such as Banco de Bilbao. Although the bank had earned a solid footing in its home city, Spain’s situation at that time made it hard to tell how it would fare in the short and medium term.

After a successful beginning as commercial and issuing bank, Banco de Bilbao faced the 1860s seeking to solidify its position as the leading financial institution in the city. It was a decade of turmoil in Spain, riddled by social and economic events that would put the bank’s strength and credibility to the test.

This article is the first of a series that will focus on BBVA’s long history. Over a number of chapters, bbva.com wants to recap some of the highlights of the bank’s almost 160 years of activity, thanks to which it has become one of the most renowned institutions throughout the 19th, 20th and 21st centuries.

The NBA is back. So much so that the 30 franchises are now deeply immersed in the 2016/2017 preseason. Here at bbva.com we will go over the changes in the teams from the Eastern Conference and Western Conference, as well as their outlook for the season. Will the Cleveland Cavaliers repeat as champions this season? We’ll have to wait for the answer to this and many other questions during this exciting season.

The NBA is back. So much so that the 30 franchises are now deeply immersed in the 2016/2017 preseason. Here at bbva.com we will go over the changes in the teams from the Eastern Conference and Western Conference, as well as their outlook for the season. Will the Cleveland Cavaliers repeat as champions this season? We’ll have to wait for the answer to this and many other questions during this exciting season.

Those visiting his office for the first time will find it hard to believe that the site for the Distrito Castellana Norte project can actually be seen from Antonio Béjar’s desk on a top floor of Plaza Castilla.