This is a list of banks in Cuba which have been issued banking licences by the Central Bank of Cuba.
Bank name [1] | Year founded | No. branches (Domestic) | No. branches (International) |
---|---|---|---|
Banco de Crédito y Comercio | 1997 | ||
Banco de Inversiones | 1996 | ||
Banco Exterior de Cuba | 1999 | ||
Banco Financiero Internacional | 1984 | ||
Banco Industrial de Venezuela-Cuba | 2005 | ||
Banco Internacional de Comercio | 1993 | ||
Banco Metropolitano | 1996 | ||
Banco Nacional de Cuba | 1948 | ||
Banco Popular de Ahorro | 1983 |
Bank name [2] | Country of domicile | No. branches in Cuba | Other Operations |
---|---|---|---|
Banco Bilbao Vizcaya Argentaria | Spain | ||
Banco Sabadell | Spain | ||
Bankia [ citation needed ] | Spain | ||
BPCE International et Outre-Mer | France | ||
Fransabank | Lebanon | ||
Havin Bank Ltd. | United Kingdom | ||
National Bank of Canada | Canada | 0 | Representative office in Cuba since 1995 and in Cuba since 1928 |
Republic Bank | Trinidad and Tobago | ||
Scotiabank [ citation needed ] | Canada | 0 (24 in 1960 none since) | Representative offices in Havana; formerly operated branches 1899-1960 |
Havin Bank was founded as Havana International Bank Ltd. in 1973 with Banco Central de Cuba as a shareholder. [3]
The economy of Cuba is a planned economy dominated by state-run enterprises. Most of the labor force is employed by the state. In the 1990s, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. In the late 2010s, private property and free-market rights along with foreign direct investment were granted by the 2018 Cuban constitution. Foreign direct investment in various Cuban economic sectors increased before 2018. As of 2021, Cuba's private sector is allowed to operate in most sectors of the economy. As of 2023, public-sector employment was 65%, and private-sector employment was 35%, compared to the 2000 ratio of 76% to 23% and the 1981 ratio of 91% to 8%. Investment is restricted and requires approval by the government. In 2021, Cuba ranked 83rd out of 191 on the Human Development Index in the high human development category. As of 2012, the country's public debt comprised 35.3% of GDP, inflation (CDP) was 5.5%, and GDP growth was 3%. Housing and transportation costs are low. Cubans receive government-subsidized education, healthcare, and food subsidies.
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