Banco Nacional de Sangria

Financial corporation of the Nation of Sangria

Description:

The Banco Nacional is the controlling financial interest for the nation of Sangria. formerly headquartered in San Succi, the national capital, it has converted its regional office in Ciudad Garcia into its new main operational center.

Trade Symbol : BkNac
Home Office : System – Dumassas
President/CEO : Meredith Jargus
Founding Date : June 23rd, 2999.

In truth, the organization is more of a privately-owned monopoly – not a bank, as such, but also its post office, government registry, tax collection agency, land office, and telegraph office. In a nation where air-wave communications are spotty, it remains important for communications. There is a Banco Nacional office in every town in Sangria. They are privately owned by the Darrian Jargus family, an ancient corporate noble clan mostly based from San Succi. The Banco Nacional is the holding for the national currency reserves,

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Sangrian currency has been in circulation since 2818, and follows a traditional 1 Colon = 100 Centavos ratio. The Colon is abbreviated to COL$ in most transactions. Pegged closely upon the value of the C-Bill (initially 1.05 Colons to the C-Bill), disruptions in the national economy have floated the Colon to an international ratio on the open market of 1 Colon to 0.25 C-Bills, showing a recent increase due to the stability and industrial growth of the nation. While coins remain silver-based, its “paper” banknotes are a traditional cotton-paper weave, mixed with ballistic nylon filaments, to discourage counterfeiting.

Most citizens of Sangria continue to use the Colon for their transactions, and the 100 Colon and 500 Colon bills tend to be the most popular. Corporations tend to use C-Bills for their larger international transactions, but there is a noted lack of Comstar’s hard currency available, so most larger transactions are partly in C-Bills, but mostly international trade certificates (effectively corporate agreement documents representing actual trade goods, such as “Thirty tons of rock salt @ 5000 Cs per ton” ). These tend to be universally accepted for large transactions, and in most cases are preferred when the company and its goods in question are internationally recognized.

There is an open discussion to revalue the Colon and issue new bills and coins, but such an event is expected to remain under the government’s evaluation for some years. The central mint in San Succi for banknotes and coins was shut-down during the 3021 riots, and its plates and dies remain in the central vaults in Ciudad Garcia, having been evacuated with the bulk of its hard assets. The country has avoided minting new coins and bills for some years, but must soon make a decision, though some hint the country might be moving to a Comstar-standard.

Bio:

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Although a strong corporate member of The Industrialist’s League, the Banco Nacional is almost unique, in that it is headed by a woman, Meredith Jargus, of the ancient Jargus clan. She achieved this singular title, by being smarter, more ruthless and capable than her male counter-parts, and out-lived them all to take control of the family company.

Meredith Jargus has controlled her company well over the last two decades, and has invested in various smaller industrial concerns developing in The District of Garcia, most of which have been showing increasing profits. A large portion of its total investments remain in this district.

The fall of San Succi to independent militia, combined with the evacuation of the official government, put the bank in serious jeopardy. The CEO, Meredith Jargus took the opportunity of the government’s evacuation to transport their hard assets out of the danger zone, along with the bulk of the corporation’s senior management and their families in the government convoy leaving San Succi.

The corporation has since rebuilt itself in Ciudad Garcia, and although it has lost some value in both national and international eyes, it remains intact with its access to its recent investments in Ciudad Garcia and the surrounding district. Over time, it has been improving its position, but it remains solidly supportive of The New Republic of Sangria government. In the absence of other national banks, it maintains its presence in other districts of the nation, and is seen by most as a “national” organization, without politics, however the corporations may feel about the matter.

The company recently expanded to include The Territory of Saint Helena, Ascension and Tristan da Cunha, and has also been supporting various new industrial efforts in and around Ciudad Garcia, including the immense task of rebuilding the Camino Muertos. Many suspect they might fund part of this rebuilding effort, by turning the new highway into a toll road.

Banco Nacional de Sangria

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