Abanca Corporación Bancaria, S.A. (formerly NCG Banco, S.A.)

Abanca Corporación Bancaria (ABANCA) is a Spanish bank, established in 2011. The bank provides retail and corporate banking services.

Services

Retail Banking
Corporate Banking

Products

Abanca Corporación Bancaria, S.A. is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BB+ (speculative). Long-term credit rating assigned to the bank by Moody's is Ba3 (non-investment grade speculative).

Abanca Corporación Bancaria, S.A. participates in deposit guarantee scheme of Spain. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

CI Cantón Claudino Pita, 2, 15300, Betanzos, Spain

Abanca Corporación Bancaria, S.A. is headquartered in Betanzos.

Bank Identifiers

BIC (SWIFT)
CAGLESMMVIG
MFI ID
ES2080

Business Summary

Services
retail banking
corporate banking
Products
current accounts
debit cards
savings accounts
time deposit accounts
credit cards
consumer loans
car loans
mortgage loans
trading accounts

Abanca Corporación Bancaria, S.A. provides products and services in the areas of retail banking, corporate banking. The range of products offered by Abanca Corporación Bancaria, S.A. includes current accounts, debit cards, savings accounts, time deposit accounts, credit cards, consumer loans, car loans, mortgage loans, trading accounts.

Products

Current Accounts

Current accounts are non-interest bearing deposit accounts that are used to perform day-to-day banking transactions. Current accounts are often offered with a payment card (a debit card and/or a credit card) and may also include overdraft possibility. Annual costs of having a current account (also known as account management fees) can depend on monthly income input to the account or amount of money deposited into the account.

Current accounts made with Abanca Corporación Bancaria, S.A. are covered by deposit guarantee scheme of Spain up to 100 000 EUR per depositor. The following current accounts are offered by Abanca Corporación Bancaria, S.A..

Updated on 11 December 2018

Cuenta Joven
Sales Region
Spain
Account Currency
EUR
Annual Costs (EUR)
0.00
Overdraft Rate (p.a.)
0.00 %
Current Account Details
Product Name
Cuenta Joven
Account Currency
EUR
Annual Costs
0.00 EUR
Interest Rate (p.a.)
0.00 %
Overdraft Rate (p.a.)
0.00 %
Debit Card
Debit Card Costs (p.a.)
0.00 EUR
Credit Card
Credit Card Costs (p.a.)
0.00 EUR
Online Banking
Telephone Banking
Branch Banking
Mobile Banking
Indexed TAN (iTAN)
pushTAN
photoTAN
Mobile TAN (mTAN)
chipTAN

Spain: This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.

See Also

Trading Accounts

Trading accounts are used to execute trade transactions involving buying and selling various financial instruments, for example, stocks, bonds, futures and options. Trading accounts can hold both cash and securities.

Trading accounts made with Abanca Corporación Bancaria, S.A. are covered by investor compensation scheme of Spain up to 20 000 EUR per investor. Trading accounts offered by Abanca Corporación Bancaria, S.A. are shown in the table below.

Updated on 11 December 2018

Abanca Broker
Sales Region
Spain
Annual Costs (EUR)
25.00
Costs per Order (EUR)
6.00
Trading Account Details
Product Name
Abanca Broker
Annual Costs
25.00 EUR
Costs per Order
6.00 EUR
Traded Instruments
stocks
bonds
ETFs
funds
options
certificates
Stock Exchanges
XETRA
Frankfurt
NYSE

Spain: This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.

See Also

Credit Ratings (as of May 2018)

Fitch Moody's
BB+ (speculative) Ba3 (non-investment grade speculative)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Abanca Corporación Bancaria, S.A. is rated by Fitch and Moody's.

Credit ratings assigned to Abanca Corporación Bancaria, S.A. as of May 2018 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Abanca Corporación Bancaria, S.A. it is set to BB+ (speculative), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Abanca Corporación Bancaria, S.A. is set to B (speculative short-term credit quality).

Long-Term Issuer Default Rating  BB+
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  B
Viability Rating  bb+
Support Rating  5
Support Rating Floor  NF

Viability rating for Abanca Corporación Bancaria, S.A. is set to bb+ (speculative fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).

Moody's

Long-term rating for Abanca Corporación Bancaria, S.A. it is set to Ba3 (non-investment grade speculative). Long-term bank deposit rating is Ba3 (non-investment grade speculative). Baseline credit assessment is ba3. Short-term rating is not assigned.

Long-Term Rating  Ba3
Long-Term Bank Deposit Rating  Ba3
Baseline Credit Assessment  ba3
Short-Term Rating  -
Outlook  stable

Outlook for the ratings of Abanca Corporación Bancaria, S.A. is set to stable (not likely to change).

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Spain are obliged to participate in Spanish deposit guarantee scheme.

In the case of Abanca Corporación Bancaria, S.A. failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  credit balances on accounts, nominative deposit certificates constituted in the EU
Covered Currencies  all
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of Abanca Corporación Bancaria, S.A. and its components are shown in the table below.

BIC  CAGLESMMVIG
Bank BIC Code  CAGL
Country Code  ES (Spain)
Location Code  MM
Branch Code  VIG

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of Abanca Corporación Bancaria, S.A. is shown in the table below.

MFI ID  ES2080

European Presence: 3 banks in 3 countries

Abanca Corporación Bancaria, S.A. operates under the brand name Abanca. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Portugal

Spain

  •  (this bank) Abanca Corporación Bancaria, S.A. (Betanzos)

Switzerland