Public and Private Banking

Venezuela's banking system is characterized as being dominated by domestic private banks for January 2007 covered 58.4% of total assets in the market, while foreign banks occupied 30.4% and the rest was in the hands State (11.2%). With the various changes experienced after several mergers and liquidations of financial institutions in Venezuela in late 2009, private banks abrogates 54.8% of market share (April 2010); followed by the public or state bank with 31.91%; banking and foreign capital, 13.29%. There are 40 financial institutions; of these, 27 are commercial banks (Universal Banking and Commercial Banking) and 13 are devoted to specialized banking. The sector employs about 79,110 people (2009) and has over 3,883 agencies or offices. Then the various private banks and public sector accounts.