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BANCO VASCONIA

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This bank was founded in 1901 as La Vasconia Seguros y Reaseguros
(an insurance company). In 1906, it became a bank and was called
La Vasconia, Sociedad Anónima de Banca y Crédito. Between then
and 1910 all insurance operations were wound down.

The number of offices rose from one in 1908 to 21 in 1953, all of them
in Navarra. It then became part of Crédito Navarro and remained so until
the end of 1962. During this period, La Vasconia transferred to Crédito
Navarra 12 of its branches, reducing its network to nine.

In the last part of 1962, Banco Popular Español bought La Vasconia's
shares from Crédito Navarro. It then expanded and in 1966 became
Banco de la Vasconia.

In 1975, through a change in the by-laws, it became Banco de Vasconia.