 |
LATIN AMERICA |
| |
Venezuelan Government Intervenes In Four
Private Banks
CARACAS - Venezuelan Minister of Economy and
Finances Ali Rodriguez said on Friday that
the government had intervened in four
private banks, which failed to fulfill the
institutional norms of the country.
Rodriguez told the press on Friday that the
government took administrative measures
against the banks, namely Canarias,
Confederado, Bolivar and ProVivienda (BanPro),
after determining they were not complying
with various regulations, including the
increase of capital without declaring its
origin and the non-fulfillment of the credit
portfolios.
Rodriguez said that the government
intervened to ensure that the banks could
continue their normal operations with their
clients, because these banks together have
10 percent of the country's overall banks
clients.
Meanwhile, banking and other financial
institutions superintendent Edgar Hernandez
said authorities found that these banks "had
a lot of weaknesses, deviations and even
reiterated noncompliance."
On Feb. 19, 2009, Venezuela also intervened
in the Stanford Bank in the country, after
clients withdrew about 93 million U.S.
dollars, about 37 percent of the bank's
deposits, due to a fraud scandal of this
bank in the United States.
On May 13, Venezuela also investigated the
Industrial de Venezuela Bank, a main
financial entity of the State, after it
registered 88.7 million dollars of losses
for 22 consecutive months.
|
|
|
|
|
| |
|
|
|
|
|
|
