The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Venezuela

Best bank
Banco Provincial Best debt house
CSFB

Of the three leading banks in Venezuela, two are foreign ? Santander?s Banco de Venezuela and BBVA?s Banco Provincial ? and one, Banco Mercantil, is domestically owned. All three have been struggling under the regime of president Hugo Chávez, in the context of an economy that shrank 10% in 2003. At the moment, the health of the banking industry is largely decided by the capricious president.

Banco Provincial seems to have made the very best of the hand it was dealt. The 2003 numbers would be unbelievable anywhere but Venezuela: net income of $182 million, generating a return on assets, in bolivars, of 6.6%, and a return on equity of 64.3%. And those ratios increased even further in the first quarter of 2004.

Banco Provincial not only makes more money than any other bank in Venzuela, it also ranks number one in terms of total assets, total deposits, and total number of clients (2.5 million).

CSFB wins the award for best debt house in Venezuela because it helped design a liability management exercise in July, and was the first bank on Wall Street to start dealing with the Venezuelan government.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree