The Banco Nacional de Crédito (BNC) is a

financial institution A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial ins ...

Venezuelan with private capital specialized in universal banking. It is headquartered in the El Rosal sector of

Caracas Caracas ( , ), officially Santiago de León de Caracas (CCS), is the capital and largest city of Venezuela, and the center of the Metropolitan Region of Caracas (or Greater Caracas). Caracas is located along the Guaire River in the northern p ...

. According to the ranking of SUDEBAN, it falls within the Medium Stratum in terms of bank size. Its founding president is Jorge Nogueroles, who long before had served as vice president of the Provincial Bank. His catchphrase is ''Where you hit right at the bank''.

History

It opens its doors in

San Antonio del Táchira San Antonio del Táchira is a city in the Venezuelan Andean state of Táchira. The busy highway across the Simón Bolívar International Bridge linking the cities of Cúcuta, Colombia, and San Cristóbal, Venezuela, passes through San Antonio ...

Táchira State Táchira State (, ) is one of the 23 States of Venezuela, states of Venezuela. The state capital is San Cristóbal, Táchira, San Cristóbal. Táchira State covers a total surface area of and as of the 2011 census, had a population of 1,168,9 ...

in July 1977, as Banco Tequendama branch of the bank of the same name in

Colombia Colombia, officially the Republic of Colombia, is a country primarily located in South America with Insular region of Colombia, insular regions in North America. The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuel ...

. In 2002, talks began for the purchase of the bank by a group of Venezuelan investors, completing the acquisition of the bank in February 2003 and changing the name in April of the same year to Banco Nacional. of Credit. By 2003, it had 13 agencies. By mid-2007 the number increased significantly to reach 79 agencies nationwide. Five years later it would reach 156 agencies and approximately 687,372 clients. It currently has 171 agencies nationwide, 460 ATMs and approximately 1,417,932 customers. On May 8, 2009, the BNC acquired all the shares of Stanford Bank for $111 million dollars, after this was intervened by the Venezuelan State, after the crisis of its parent company, and it took place on February 18. At the time of the purchase Stanford Bank owned 15 branches in Venezuela. On August 31, 2021, Citibank Venezuela would complete the transfer of its assets and liabilities to the BNC, in accordance with a Rights and Obligations Transfer Agreement dated April 20, 2021, after the approval of the Superintendency of Institutions of the Banking Sector (SUDEBAN) between both institutions. Citigroup's withdrawal occurred due to the minimization of its activities due to the economic recession caused by the

hyperinflation In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real versus nominal value (economics), real value of the local currency, as the prices of all goods increase. This causes people to minimiz ...

in the nation. On March 10, 2022, the

Caracas Stock Exchange The Caracas Stock Exchange or Bolsa de Valores de Caracas (BVC) is a stock exchange located in Caracas, Venezuela. Established in 1947, BVC merged with a competitor in 1974. The Caracas Stock Exchange hit a new all time high on January 9th, 2025. ...

(BVC) released a press release informing about the expansion process of the BNC in the acquisition of some assets and assumption of liabilities of the Banco Occidental de Descuento. The On June 17, SUDEBAN would inform in a statement the authorization for the transfer of assets and liabilities from the BOD to the BNC as of June 27, 2022.

External links

Official Website

References

{{DEFAULTSORT:Banco Nacional de Credito Banks of Venezuela Companies listed on the Caracas Stock Exchange Banks established in 1977 Venezuelan companies established in 1977 Venezuelan brands Companies based in Caracas