Top Banks in Venezuela

An overview of Venezuela's leading financial institutions

Overview of Banks in Venezuela

Governmental organization Central Bank of Venezuela, or Banco Central de Venezuela (BCV), is the country’s central monetary authority. It also serves as the governing agent of the Clearing House System. Founded in 1939, BCV oversees banks in Venezuela and keeps a fixed exchange rate for the Venezuelan bolívar.

Aside from the central bank, the state banking system is composed of regional and development banks that are managed by the Venezuelan Development Corp., commercial banks, investment banks, mortgage banks in Venezuela, as well as savings and loan associations.


Banks in Venezuela


After missed bond interest payments from the government and national oil company PDVSA, Moody’s Investors Service expects that Venezuela’s eventual restructuring will cost more than $65.2 billion, the fourth largest default in history. (The first three were Greece in 2012, Argentina in 2001, and Russia in 1998).

For anyone considering a career in banking in Venezuela, this list of top banks in Venezuela is a helpful guide on where to start. To learn more, see our list of financial institutions.


Top banks in Venezuela include:



With 340 branches, over 115,000 POS and 1,377 ATMs throughout Venezuela, Banesco is the largest private banking institution in the country, providing products and services to more than six million clients. It is part of the upper stratum of the Bank Ranking of Superintendency of the Institutions of the Banking Sector of Venezuela (SUDEBAN), which is responsible for ensuring banks in Venezuela comply with local regulations.

Banesco is also a member of the Banking Association of Venezuela. Its headquarters is in Caracas, the largest bank headquarters in Latin America.

Revenue: VEB 62.2 billion (H1 2016)

Net income: VEB 13.96 billion (H1 2016)

Total assets: VEB 982.01 billion (H1 2016)


Banco Mercantil

Banco Mercantil Americano was founded in 1917. Its name changed to Banco Neerlando Venezolano in 1925. After a year, it was renamed Banco Mercantil y Agrícola or Mercantile and Agricultural Bank. It is based in Caracas and is considered the second largest of the banks in Venezuela.

In the 1970s, Banco Mercantil established subsidiaries in several countries, including Brazil, Colombia, Curacao, Germany, the US, and the UK.


Banco Industrial de Venezuela

Banco Industrial de Venezuela, also known as Industrial Bank of Venezuela or BIV, was founded in 1937 with 60% state capital and 40% private capital. The ownership was eventually turned over to the state. In the 1960s and 1970s, the bank played a significant role in the country’s import substitution policy of industrialization. In 2016, its assets were transferred to financial institution Banco del Tesoro.


Banco de Venezuela

International universal bank Banco de Venezuela was established in 1883 under the name Banco Comercial. It adopted its current name in 1990. It already operated in 10 branches in Venezuela in 1920. At that time, there was still no central bank in the country, so Banco de Venezuela was one of the banks in Venezuela that owned the right to issue banknotes until 1940.



Banfoandes, or Los Andes Regional Development Bank, was formed in 1951 by the Venezuelan Development Corporation (CVF) under the name Banco de Fomento Regional Los Andes. It oversaw 170 agencies until 2009 when the government merged it with other financial entities belonging to the medium to low stratum due to insolvency.



Based in Caracas, Bancaribe operates through 113 branches in the country, offering universal banking products and services to over 800,000 customers. Founded in 1954, the private bank is part of the medium stratum of the Bank Ranking of SUDEBAN. Its headquarters is in Caracas.


Banco Nacional de Crédito

Venezuelan commercial bank Banco Nacional de Crédito (BVC: BNC) or BNC was established in 1977 as Banco Tequendama branch of the Banco Tequendama Colombia. In 2003, it changed its name to Banco Nacional de Crédito. In 2009, it acquired Stanford Bank Venezuela, which was controlled by Stanford Financial Group.


Banco Venezolano de Crédito

Founded in 1925, general bank Venezolano de Crédito (BVC: BVE) is one of the largest banks in Venezuela. Headquartered in Caracas, the bank offers a range of banking products and services including deposits, checking and savings accounts, foreign currency transactions, custody of securities, and commercial and personal loans. In the 20th century, Venezolano de Crédito provided funding and developed key sectors of the economy.


BBVA Provincial

Formerly known as BBVA Banco Provincial, financial institution BBVA Provincial (BVC: BPV) was established in 1953 in Caracas. It was considered the first of universal banks in Venezuela to provide specialized banking solutions. The majority of BBVA Provincial was acquired by Banco Bilbao Vizcaya, currently known as Banco Bilbao Vizcaya Argentaria, as part of its expansion into Latin America.


Banco Bicentenario

Banco Bicentenario was founded in 2009, following the merger among state-owned banks Banfoandes, Bolívar, Central, and Confederado. The bank provides financial services and accounts for about 20% of the country’s total bank deposits.


Careers in investment banking

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Additional resources

This has been a guide to the top banks in Venezuela. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:

  • Top banks in Argentina
  • Top 100 investment banks
  • Investment banking interview questions
  • Walk me through a DCF
  • Financial modeling guide

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