Overview of Banks in Bolivia
Banks in Bolivia are made up of a state bank, commercial banks, credit unions, and savings and loan organizations, and are governed by Banco Central de Bolivia. Banco Central is the central bank of the country that is responsible for setting monetary policies and issuance of banknotes.
In late 2017, Moody’s Investors Service revised its outlook on the banks in Bolivia from negative to stable. The rating agency expects the country’s GDP growth to stabilize at a relatively high level, and even though the banking system’s fundamentals continue to worsen for the moment, the operating environment in the country is predicted to stabilize.
For anyone who is considering a banking career in Bolivia, this list of top banks in Bolivia is a helpful guide on where to start. To learn more, see our list of financial institutions.
The top banks in Bolivia include:
Banco Mercantil Santa Cruz (BMSC)
Banco Mercantil Santa Cruz S.A. (BMSC) started operating in Bolivia in 2006 as a product of the merger of Banco Mercantil and Banco Santa Cruz. The Bolivian bank provides individuals and corporate clients with a wide range of products and services through 93 branches, over 350 ATMs, online and mobile banking platforms, as well as call centers. BMSC is based in La Paz.
Banco Nacional de Bolivia
One of the largest banks in Bolivia is Banco Nacional de Bolivia or BNB. It was established in 1871, making it one of the oldest banks in the country. BNB is based in Sucre, providing a range of products and services that includes savings, mortgage and commercial loans, investment banking, and credit cards.
Banco BISA S.A.
Founded in 1963, Bolivian banking and financial services company, Banco BISA S.A., provides consumer and corporate banking products and services through its network of 66 banking centers, almost 300 ATMs, call centers, and other banking platforms. Based in La Paz, it offers investment banking, mortgage, insurance, and risk management solutions. Formerly called Banco Industrial S.A., the bank is now part of Grupo Financiero BISA S.A.
Banco de Crédito de Bolivia
Banco de Crédito de Bolivia was established in 1994 when Bolivian bank, Banco Popular, was acquired by Banco de Crédito del Peru, the largest bank in Peru. It offers a wide array of products and services, including consumer and corporate banking, mortgage loans, mutual funds, and investment banking. Headquartered in La Paz, the bank operates a network of 102 branches, 240 ATMs, call centers, and other banking platforms.
Banco Unión started operating in Bolivia in 1979 as part of the Unión Group. With headquarters in La Paz, it provides financial products and services, including savings, checking, investments, microcredit, and loans. Banco Unión aims to provide financial services throughout the country and play a role in economic and social development.
Banco Ganadero S.A.
Banco Ganadero S.A. is one of the largest banks in Bolivia, providing a range of financial products and services, including savings, checking, fixed deposits, consumer credit, loans, insurance, foreign trade, and currency exchange. It serves individuals and businesses across different sectors. Its headquarters is in Santa Cruz.
Banco Económico S.A.
Established in 1989, Banco Económico S.A. provides banking solutions for individuals and companies in different areas of the country such as Santa Cruz, Tarija, Sucre, and La Paz. Its products and services include savings, checking, term deposits, loans, investment capital, lines of credit, and bills of exchange.
Banco para el Fomento a Iniciativas Económicas
Based in La Paz, Banco para el Fomento a Iniciativas Económicas operates through a network of 210 branches throughout Bolivia. Formerly a private financial fund until 2010, it became a development bank and turned into the country’s largest microfinance institution, offering microcredit to small businesses.
Bolivian microfinance bank, Banco Solidario, or Bancosol, offers a range of products and services such as loans, savings, guarantee funds, credit, and money transfers, as well as insurance, through its network of 96 agencies and 199 ATMs. Bancosol’s headquarters is in La Paz.
Careers in investment banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map…. For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been a guide to the top banks in Bolivia. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: