ABANCA Corporación Bancaria, S.A. is a Spanish bank based in Galicia. It was created in 2011 following the "bankisation" of Novacaixagalicia savings bank. It operates in the autonomous communities of Galicia, Asturias and the province of León, and in other parts of Spain.
NCG Banco, S.A., which traded as Novagalicia Banco, was created on September 2011 following the bankisation process of Novacaixagalicia.
History: Novagalicia Banco
As Novagalicia Banco's predecessor, the savings bank Novacaixagalicia, was subsequently bailed out by the Government of Spain the majority of the shares in the company were held by the bailout program Fund for Orderly Bank Restructuring (90.57%). The Novacaixagalicia Foundation helds 6.84% with the remaining 2.59% being held by private investors.
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