FUNDACIÓN HISPÁNICA HISTORY
Fundación Hispánica History
Fundación Hispánica was the first foundation established within the Beatriz Building, and was promoted by the philanthropic initiative of Luis Valls. It was founded in 1970 when the Bank had already been engaged in social action for over ten years through various channells. With the decision to professionalize these processes, this non-profit entity was created, and it continues its activities to this day, faithful to its original mission and vision.
Transparent and unpublicized
For many years, the activities of the Fundación Hispánica were little known, mainly because the Bank adhered to the principle of not publicizing this activity or using it to promote its brand or to attract clients. This approach stemmed directly from Luis Valls’s philosophy of giving assistance with transparency and effectiveness, but always from in a secondary role. It is important to note that although his influence was decisive—and he furthermore donated to this foundation and ensured that the Bank’s directors did too—Luis Valls was never a trustee of the Fundación Hispánica, nor did he serve as its president.
From the outset, it was stipulated that the aid granted by Fundación Hispánica would primarily be in the form of loans, if not exclusively in advisory services. If financing was involved, it would be of the so-called “soft” type in terms of repayment conditions and would always be aimed at those known as “unbanked,” individuals or entities for whom it was virtually impossible to obtain bank finance.
Absorptions and name changes
Various circumstances and specific needs have led to the name changes that Fundación Hispánica has undergone throughout its history. A brief summary of this evolution is as follows: it was established in 1970 and absorbed the activities of the Social Cooperation Center while beginning to receive funding from Banco Popular. In 1982, it was succeeded by Fundación para Atenciones Sociales (FAS), which Fundación Patronato Universitario later absorbed. This change was due to various circumstances, including, possibly, the fact that Fundación Hispánica was a Board member of the bank (its first physical representative being Aristóbulo de Juan).
In 2008, under changing circumstances, Fundación Hispánica resumed its original role. In fact, under Ángel Ron’s presidency, it was decided to add “Grupo Banco Popular” to the Foundation’s name. This additional name was removed when the Bank was resolved in 2017. It then reverted to Fundación Hispánica.
That same year, Fundación Hispánica absorbed Fundación Vasconia after the Banco de Vasconia, its funding source and a subsidiary of Popular, ceased to exist.
