banking in Venezuela

Are the set of institutions that enable the development of all transactions between individuals, companies and organizations involving the use of money ; are classified into public and private . These institutions receive money deposits , grant loans and provide other services , try to cover all the financial needs of the economy of Venezuela .Banking in Venezuela is one of the most dynamic and changing sectors of the economy , with more than 30 banks , of which about 60 % are domestic banks, foreign banks 30 % , and 10% of the state banks . The Venezuelan Banking employs over 60,000 people and has more than 3,000 agencies throughout the country .

BANKING STRUCTURE IN VENEZUELA

The structure of the Venezuelan banking system is organized around a central bank ( BANCO CENTRAL DE VENEZUELA ) , which corresponds regulate the powers of monetary circulation ( emission limits ) , centralize reservations and monitor trade in gold and foreign exchange (changes ) , issued exclusively airline ( uniqueness of the issue) , promote liquidity and solvency of the banking system ( banks, banks). next to the central bank operating commercial banks (domestic and foreign , public and private) which function to receive deposits from the public and provide short-term loans ; mainly financial corporations ( public and private) , which provide loans to medium and long term .


CENTRAL BANK OF VENEZUELA

 The Central Bank of Venezuela (BCV ) is a body responsible as principal economic authority , to ensure monetary and price stability of this South American country is the only one authorized to issue legal tender in Venezuela . It is a legal entity under public law with autonomy to formulate and implement policies within its jurisdiction and has constitutional status from the 1999 Constitution ; it its autonomous and independent nature of the policies of the national government is recognized.


 CLASSIFICATION OF BANKS

 · Commercial and Universal BankingCommercial banking is a tool of great importance for the economy of a country as this gives customers the advantage of having at its disposal financial system which meets their needs.The universal banking is called so because it possesses or provides all the services offered by the bank, the universal term implies a whole in general services , such banking is not specialized as can the mortgage bank or farm which its activity is focused in a specific area such universal banking offers all mortgage , industrial, agricultural , insurance, personal , micro and other services so called universal banking.


In this we find the following banks:
 - Bank of Venezuela (1890 ) - Banesco (1992 ) - BBVA Banco Provincial (1952 )

 - Banco Mercantil ( 1925 ) - Bicentenario Banco Universal (2009 )- West Bank Off - BOD (1957 )- Bancaribe (1954 )- Banco Exterior ( 1956 ) - Banco del Tesoro (2005 )- Banco Industrial de Venezuela (1937 )- National Bank Credit - BNC (1977 )- BOD -Corp Banca (1969 ) -BFC (1963 )- Credit -Venezuela (1925 )- Banco Caroni (1981 )- Agricultural Bank of Venezuela (2005 )- Sofitasa - Bank (1990 )- Bank Plaza ( 1989)

-South (1978 )- Citibank (1917 )- Active - Bank (1978 )

- Banplus (2007 )-100 % ü Bank (2006 )



· Development Bank ( Microfinance )

 - Bank for Economic and Social Development of Venezuela ( BANDES )- Bancrecer- Banco Espirito Santo ( Venezuela )- Bangente ( Bancaribe )- My Bank- Bancamiga- International Development Bank- Export Bank and Trade

· Investment BankingThe investment banking or business banking assists individual clients , private companies and governments to raise capital , erecting in client agent for the issuance and sale of securities in the capital markets .




ü Sofioccidente Investment Bank ( In merger with Banco del Tesoro )

· Banks with Special Laws

Peoples Bank (BPS )- Foreign Trade Bank ( BANCOEX )- Municipal Popular Credit Institute ( MIPA )- Financial Leasing Company ( ANFICO )- National Housing Bank and Habitat ( BANAVIH )-  Bank of Development of Women ( Banmujer )



 TYPES OF BANKS IN VENEZUELA

  Public ï are those whose capital is contributed by the state.

 
These are:

 .Banco de Venezuela.Bicentenario Banco Universal .Banco del Tesoro .Banco Industrial de Venezuela .Agricultural Bank of Venezuela .Bank for Economic and Social Development of Venezuela ( BANDES ).Peoples Bank (BPS ).Banco de Comercio Exterior ( BANCOEX ).Municipal Popular Credit Institute ( MIPA ) .Financial Leasing Company ( ANFICO ).National Housing Bank and Habitat ( BANAVIH ).Bank of Development of Women ( Banmujer )

 Private ï : are financial institutions that perform particular property acquisition and financing resources , thereby chasing a profit or benefit as a result of differential rates between active and passive interest.


-Banesco-BBVA Banco Provincial-Banco Mercantil-West Bank BOD Off-Bancaribe-Banco Exterior-Credit BNC National Bank-Banking Corp BOD-BFC-Venezuelan Credit-Banco Caroni-Bank Sofitasa-Bank Square-South-Citibank-Bank Assets-Banplus-100 % Bank-Bancrecer-Banco Espirito Santo ( Venezuela )-Bangente ( Bancaribe )-My Bank-Bancamiga-Bancamiga-International Development Bank 
-Export Bank and Trade 
-Sofioccidente Investment Bank ( In merger with Banco del Tesoro )
BANKS REGULATORY AGENCY IN VENEZUELA

SUDEBAN

The Superintendency of Banking Sector Institutions is the regulatory body of the banking sector under the supervision and coordination of the High Authority of the National Financial System. It is an autonomous institution with legal personality and its own patrimony independent of the property of the Republic , and shall be governed by the provisions establishing the Organic Law of the National Financial System and the Law of Banking Sector Institutions .

 MISSIONRegulate and supervise the banking system and other financial institutions , with a motivated and committed talent, through the application of the best national and international practices that contribute to the stability of the system and the National Development

 VISION

 Being inspiring model public institution of trust and credibility of national and international reputation in the field of Banking Regulation and Supervision and Other Financial Institutions .