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Company type | Public |
---|---|
BVC: BPV | |
Industry | Financial services |
Founded | 1953 |
Headquarters | Caracas, Venezuela |
Key people | Leon Henrique Cottin (Chairman) Pedro Rodríguez Serrano (CEO) |
Products | Finance and Insurance |
Revenue | US$928.0 million (2008) |
US$376.4 million (2008) | |
Total assets | US$8.1 billion (2007) |
Number of employees | 5,775 |
Parent | BBVA |
Website | www.provincial.com |
BBVA Provincial (BVC: BPV) (formerly BBVA Banco Provincial) is a financial institution in Venezuela.
Founded on October 15, 1953, in Caracas, Venezuela, as Banco Provincial with a capital of Bs. 15,000,000. In November 1996, Banco Provincial became the first universal bank in Venezuela by expanding its business objectives to include activities of specialized banking.
In 1997, Spain’s Banco Bilbao Vizcaya (now Banco Bilbao Vizcaya Argentaria) acquired the majority of shares as a strategy of expansion into Latin America. BBVA's entry in Venezuela coincided with Hugo Chávez' presidential election. [1]
Once Nicolás Maduro came to power in Venezuela, the bank's benefits dropped from 369 million euros in 2013 to -13 million euros in 2017. [1] While Banco Santander shut its Venezuelan operations in 2009, [1] BBVA chose to maintain theirs despite the economic crisis. [2]
The bolívar is the official currency of Venezuela. Named after the hero of South American independence Simón Bolívar, it was introduced by President Guzman Blanco via the monetary reform of 1879, before which the venezolano was circulating. Due to its decades-long reliance on silver and gold standards, and then on a peg to the United States dollar, it was long considered among the most stable currencies.
BBVA México is the largest Mexican financial institution (2024), having about 30.4% of the market. Founded in 1932 as Banco de Comercio (Bancomer), and rebranded from 2000 to 2019 as BBVA Bancomer, its main stockholder is the Spanish bank BBVA. Its headquarters are located at the Torre BBVA México on Paseo de la Reforma in Mexico City.
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OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918. OFG Bancorp has $10.6 billion in assets (2023), and approximately 2,248 employees (2023).
BBVA Argentina, formerly BBVA Banco Francés, is a financial institution in Argentina.
The Laredo National Bank (LNB) was a Texas bank founded in 1892 headquartered in Laredo, Texas which was bought by Banco Bilbao Vizcaya Argentaria. LNB had been a component in the development of business and industry along the United States-Mexico border and South Texas. The Laredo National Bank had grown to approximately $3.5 billion in assets and was the fifth largest independent bank in Texas. Headquartered in Laredo, Texas, LNB had branches in Austin, Brownsville, Corpus Christi, Dallas, Del Rio, Eagle Pass, Harlingen, Houston, McAllen, San Antonio, San Marcos, and Weslaco. Laredo National Bank owned South Texas National Bank. Laredo National Bank's branches and headquarters names have been changed to Compass Bank on November 14, 2008 due to a merger between Laredo National Bank Compass and BBVA. BBVA Compass plans on cutting 170 jobs and eliminating the Laredo National Bank headquarters.
BBVA Perú is a Peruvian bank and subsidiary of Holding Continental which holds 92.08% of its equity.
Banco de Venezuela is an international universal bank based in Caracas. It was the market leader in Venezuela until 2007, when it fell to third place, with an 11.3% market share for deposits; its major competitors are Banesco, Banco Mercantil and BBVA Banco Provincial. As of June 2008, it had 285 branches in Venezuela.
José Ángel Sánchez Asiaín, 1st Marquess of Asiaín, was a Spanish industrialist, university professor and economist.
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The Banco Bilbao Vizcaya is a building located at Calle de Alcalá, 16, in Madrid, Spain. Projected in 1919 by architect Ricardo Bastida (1879–1953) and built from 1920 to 1923 for Banco de Bilbao, a constituent financial institution of BBVA. It was declared Bien de Interés Cultural in 1999. The rotunda features murals painted by Aurelio Arteta in 1922 and restored in 2003.
The Provincial Tower is a skyscraper located in the Venezuelan city of Caracas, stands out as the fifth-highest office tower in the city and Venezuela, was inaugurated in 1984, has 40 floors and is about 159 metres (522 ft) high, is located in the Candelaria Parish, northwest of Libertador Municipality of Caracas.
Francisco González Rodríguez is a Spanish banker. He was president of the Argentaria bank between 1996 and 1998 and of Banco Bilbao Vizcaya Argentaria from 2000 to 2018.
Spain–Venezuelan relations are the bilateral relations between the Kingdom of Spain and the Bolivarian Republic of Venezuela. Both nations are members of the Association of Spanish Language Academies and the Organization of Ibero-American States.
Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, Portugal, Mexico, South America, Turkey, Italy and Romania.
Carlos Torres Vila is a Spanish banker, who assumed the role of CEO at Banco Bilbao Vizcaya Argentaria (BBVA) in May 2015. He later took on the position of executive chairman since December 2018.
Francisco Luzón López was a Spanish banker and economist. He assisted in transforming Spanish and Latin American banking over the last thirty years, leading banks such as Banco Bilbao Vizcaya Argentaria and Banco Santander. Luzón was diagnosed with ALS in October 2013 and created the Fundación Francisco Luzón to fund ALS research.