Malabo is the commercial and financial center. Malabo's economy is based on the administration and other services. Trade is also one of the most prominent and important economic activities, especially since the arrival of US companies which exploit oil wells close to the coast. This trade also comes from the presence of other Americans, Latin Americans, Nigerians, Cameroonians, Spanish and other Central Africans; The building that was originally built by the Banco Popular Español, but after independence became the seat of Banco de Guinea Ecuatorial.