Spanish report: Libya becomes sole shareholder of Spain’s Aresbank

The Libyan Foreign Bank has become the sole shareholder of Spain’s Aresbank after Algeria’s state-owned Crédit Populaire d’Algérie relinquished its 0.14% stake, according to a Spanish media report.

Spanish newspaper “The Objective” reported that the ownership change was registered at the end of July. The Libyan Foreign Bank previously held 99.86% of Aresbank’s shares, meaning the Algerian withdrawal transferred full ownership of the bank to the Libyan side after decades of Algerian investment.

Founded in 1975, Aresbank focuses on international trade and banking services linking Spain with North Africa and the Middle East. It operates branches in Madrid, Barcelona and Bilbao, as well as a recently opened office in Valencia.

According to the report, the ownership change comes as Aresbank expands its operations. The bank recorded €16 million in profits in 2025, up 21% from the previous year, while its loan portfolio reached approximately €733.3 million and the number of transactions it handled increased by 25%.

Aresbank is implementing a three-year plan aimed at expanding its products and services and strengthening its presence in the Spanish market, including the introduction of Islamic banking services and expansion of its business network.

The report said Spanish imports from Libya are worth approximately €2.5 billion, compared with around €350 million in Spanish exports to Libya, with energy accounting for a significant portion of bilateral trade.

Neither the Libyan Foreign Bank nor any other Libyan official body has so far issued a statement confirming or denying the Spanish report regarding the bank’s acquisition of full ownership of Aresbank or providing details about the latest change in its shareholder structure.