100 Years of Banca March: From Sant Miquel to London – a Mallorcan Success Story

100 Years of Banca March: From Sant Miquel to London – a Mallorcan Success Story

How a small office in Palma became an international family bank and why that benefits the island

On April 1, 1926, a man in Palma's old town sat down at a desk on Calle Sant Miquel and opened an office that, a century later, is still seen as the starting point of an unusual success story. Joan March Ordinas thus laid the foundation for an institution known today across Spain, yet one that does not deny its roots: Can Gallard des Canyà, the aromas of freshly brewed coffee from the neighboring bakery, and the church bells ringing over Palma's rooftops in the morning – that was the first setting.

In its first decades the bank remained present in the Balearics: branches in Llucmajor, Inca, Felanitx, later Manacor and Sa Pobla ensured proximity to customers across the island. In 1941 the house became a joint-stock company – a formal step that changed its structure but not its owners: the family remained at the helm, a characteristic that still shapes the bank's identity today.

The 1960s and 1970s brought new momentum. From Palma, Banca March opened branches on the mainland in cities such as Barcelona and Madrid while maintaining its presence on the other islands. In 1976 the headquarters moved to the Avenidas in Palma – a clear statement: locally rooted, but outward-looking. Walk past the Avingudes on a clear morning today and you'll meet employees with bags, suppliers planning their day, and cafés where bankers and clients hold their morning briefings.

The following decades were marked by realignments: with the founding of an investment company in 1986, the house diversified its activities. In the 1990s the focus shifted toward retail banking and wealth management – a specialization that helped the institution hold its own in an increasingly complex market. Today locations in London and Luxembourg are also part of the network, serving as bridges to international business, and the island's presence in the city is covered in Mallorca in London: Between Fireworks and Algorithms — What Remains of the 'Mallorca se reinventa' Idea?.

Notably, the bank still bears family marks. Management is now in its fourth generation. That does not mean everything can stay cozy; on the contrary: observe the street corners in Palma and you see young colleagues dashing out of meetings with headsets and tablets. It is the mix of tradition and modernity that characterizes the house.

This development has tangible consequences for Mallorca. A locally rooted bank provides jobs, finances projects, supports cultural initiatives and remains close to regional decisions. The foundation established by the family plays a visible role – not only on the island but also in Madrid – and shapes cultural life through exhibitions and sponsorship.

Of course the future is not a stroll along the seafront. Digitalization, regulatory pressure and changing customer behavior demand adaptation — for instance, new payment standards and instant transfers are discussed in "10-Second Rule": How Instant Transfers Are Changing Life in Mallorca, and occasional episodes of cross-border crime remind institutions to stay vigilant, as reported in Three arrests in Mallorca: What lies behind the alleged international bank fraud.

What impression remains when wandering through Palma's old town on a spring afternoon? There are still traces of the beginning on Calle Sant Miquel, alongside modern signs on glass facades, and people – employees, customers, art lovers – who show that an institution can change without forgetting its origins. For Mallorca this is an encouraging story: local roots and international ambitions can be combined, and that brings the island more than prestige. It creates jobs, supports culture, and provides a partner who – at least so far – has not lost sight of the island.

For the anniversary this means: celebrate with an espresso in the sun on Plaça Major. At the same time it is an invitation to actively shape the next 100 years – from sustainable investments to digital accessibility. That a bank honors its origins while thinking beyond borders is a steady message for Mallorca in turbulent times.