The economic developments in Cuba and Puerto Rico in the early 19th Century (Sugar, Coffee and Tobacco became the focal point for commercial development) required substanstial investments. This context was favorable to the growth of the financial sector, leading to the emergence of institutions in the form of Joint Stock Companies in Cuba and Puerto Rico. In Cuba, the first Cajas de Ahorros, Descuentos y Depositos de la Habana was created in 1840 by the Patriotic Society, and in Puerto Rico, the San Juan Bautista Savings Banks was founded in 1859. In his paper, Prof. Martinez Soto explores the history of those largely ignored institutions.
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To cite this article:
MARTINEZ SOTO (Angel Pascual)(2011): The First Savings Banks in Latin America: Cuba and Puerto Rico (1840-1898). ESBG Perspectives n°63, pp. 87-105.