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 In Venezuela, an individual can talk about finance institutions from 1882, when Banco Maracaibo has been established, as it reflects the bases of current financial issues.

The very first banks, for example, initial legislation regulating their activities, have already been shifting with the years according to circumstances and conditions.

The very first try to start a bank with federal capital was made out of the name of Banco de Venezuela from the years of 18-25, this effort failed briefly afterwards.

In 1839 the initial bank with foreign funding was set up, the British Colonial Bank.

In 1861 that the Banco de Venezuela has been born, however, it collapsed after a year of activity. Like several efforts to start the Banco de Caracas, it’d endure four efforts in 1838 to 1876.

Afterwards, starting in 1883, the Banco Comercial has been set up, which will later come to be the recent Banco de Venezuela at 1890.

From the year 1890the Banco de Caracas was likewise founded, which combined together with the Banco de Venezuela, that had the duty mainly of attending into those actions of the personal industry.

Back in 1916 that the Banco Comercial de Maracaibo has been set.

Subsequently come overseas capitals named following the banks of the Royal Bank of Canada,” Inter-bank, the United Dutch Bank as well as The National City Bank of New York. All these were licensed to issue banknotes with a number of the above federal banks, one of they were of the Banco de Caracas and the industrial bank of Maracaibo.

State involvement in banking action

As a way to encourage the agricultural industry and also the construction of the popular home, the production of several banks in the early 20th century has been invited.

The Banco Agrícola y Pecuario and also Banco Obrero were made in 1928.

Back in 1939 that the Central Bank of Venezuela has been established, which could set the bases for centralizing the issuance of notes and coins.

Back in 1946 that the Banco Unión is made as well as in 1975 that the Banco Latino, that came with the funding of France.

Back in 1977, together with an incentive from the legislation, several regional personal banks were first established, one of them had been the recent Banco Banesco, with the name of Banco Agroindustrial Venezolano, Banco Federal, Plaza and also Sofitasa to call a number of those.

Back in 1994, with all the banking crisis, several banks were intervened, like the Consolidated and the Banco de Venezuela, that were sold to overseas funds, the latter into the Santander category and would later visit their country again in ’09.

This banking crisis had over come in 1996.

Last year, the government made a decision to juggle numerous associations, including Banco Canarias, BanPro and also Banco Confederado. The Banco Bicentenario can also be generated as a worldwide bank.

In Venezuela, you may discuss finance institutions out of 1882.

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