Así es Aresbank, el banco que hace de puente entre España y el mundo árabe

Aresbank, a Spanish bank, serves as a bridge between Spain and the Arab world. Founded in 1975, it aimed to foster collaboration between the Arab world and Spain. Initially, the bank had public institutions like the Instituto Nacional de Industria (INI), Icex, and the Spanish Foreign Bank as stakeholders, along with six private banks.

Arab partners, Libyan Arab Foreign Bank and Kuwait Foreign Trading Contracting and Investment, held a 30% stake each. In 2006, the bank changed its name to Aresbank, and since 2008, it has been solely owned by Libyan Foreign Bank (LBF), an institution created by the Central Bank of Libya to promote the country's foreign trade. Aresbank now operates from Spain, Paris, London, and Rome, with 42 branches across 23 countries.

The bank specializes in letters of credit, which are payment commitments issued by a bank at the buyer's request. The seller receives payment only when the products and documents are delivered correctly within the agreed timeframe, ensuring both the payer and seller's security. Aresbank guarantees payments from Middle Eastern and North African banks to Europeans, valuing the operations and assuming the risk.

The transactions are short-term, with a team of experts verifying port authority or shipping certifications to ensure the goods match the commitment. Aresbank's three main areas of operation include foreign trade, treasury management, primarily for Libya but also for Spanish client funds, and traditional banking, offering pre- and post-financing and loans to exporting companies.

The bank also provides extensive transactional banking services, as many African banks lack access to euros and need a correspondent bank for all their euro payments and debits. Aresbank handles daily large volumes of credits and debits for its correspondent banks. The bank has undergone significant changes, such as migrating to Rural Servicios Informáticos (RSI) for its computer systems, starting the process with Fitch for obtaining a credit rating, and developing a three-year strategic plan (2026-2028) to grow its business in Spain, expanding its foreign trade operations to countries like Algeria, Turkey, Egypt, Jordan, and Iraq, and enhancing its risk management, electronic banking, and representation in strategic countries.