The retail savings of Spanish private banking, 1900-1935


  • Angel Pascual Martínez Soto Universidad de Murcia
  • Andrés Hoyo Aparicio Universidad de Cantabria



savings, savings banks, commercial banking, savings bank departments, retail financial market


The relative increase in wage income and, consequently, the improvement of living standards of the Spanish popular and middle classes between 1900 and 1935 led to an increase in their savings capacity. During these years the growth of savings balances generated a retail financial market that interested commercial banks, willing to enter into competition with charitable savings banks. The Ordinance Law of the Spanish banking system of 1921 and the creation of the Spanish Banking Control Council boosted interest in this competition to control retail savings. Commercial banks used the strategy of generating, within their organizations, “savings bank departments” that offered the savings products of the savings banks (charitable- social). In this paper we reconstruct the savings captured by commercial banks. It also analyses the structure of the client liabilities of the different types of commercial bank and banking areas.

Author Biographies

Angel Pascual Martínez Soto, Universidad de Murcia

Facultad de Economía y Empresa

Departamento de Economía Aplicada

Área de Historia e Instituciones Económicas

Profesor Titular de Universidad

Andrés Hoyo Aparicio, Universidad de Cantabria

Facultad de Filosofía y Letras

Departamento de Historia Moderna y Contemporánea

Profesor Titular de Universidad