.mw-parser-output .hidden-begin{box-sizing:border-box;width:100%;padding:5px;border:none;font-size:95%}.mw-parser-output .hidden-title{font-weight:bold;line-height:1.6;text-align:left}.mw-parser-output .hidden-content{text-align:left}You can help expand this article with text translated from the corresponding article in Spanish. (October 2019) Click [show] for important translation instructions. Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Wikipedia. Consider adding a topic to this template: there are already 5,235 articles in the main category, and specifying|topic= will aid in categorization. Do not translate text that appears unreliable or low-quality. If possible, verify the text with references provided in the foreign-language article. You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation. A model attribution edit summary is Content in this edit is translated from the existing Spanish Wikipedia article at [[:es:BBVA Provincial]]; see its history for attribution. You should also add the template ((Translated|es|BBVA Provincial)) to the talk page. For more guidance, see Wikipedia:Translation.
BBVA Banco Provincial S.A.
Company typePublic
BVC: BPV
IndustryFinancial services
Founded1953
HeadquartersCaracas, Venezuela
Key people
Leon Henrique Cottin (Chairman)
Pedro Rodríguez Serrano (CEO)
ProductsFinance and Insurance
RevenueIncrease US$928.0 million (2008)
Increase US$376.4 million (2008)
Total assetsIncrease US$8.1 billion (2007)
Number of employees
5,775
ParentBBVA
Websitewww.provincial.com

BBVA Provincial (BVC: BPV) (formerly BBVA Banco Provincial) is a financial institution in Venezuela.

History

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]

References

  1. ^ a b c lainformacion.com (2019-05-01). "BBVA y Venezuela: de ganar 300 millones a perder dinero durante la etapa Maduro". La Información (in Spanish). Retrieved 2023-03-07.
  2. ^ "Venezuelan banks shrivel as inflation roars and credit dries up". Reuters. 2018-04-24. Retrieved 2023-03-07.