Banco Bicentenario
Encyclopedia
Banco Bicentenario is a bank based in Caracas. It was created in late 2009 through the merger with the existing state-owned bank Banfoandes of three banks (Bolívar, Central and Confederado Banks) and after BaNorte Bank, nationalised as a result of the 2009 banking crisis
. The new bank has around 20% of Venezuelan bank deposits.
Venezuelan banking crisis of 2009-2010
The 2009-2010 banking crisis occurred in Venezuela when a number of the banks of Venezuela were taken over by the government, after "the revelation that several banks owned by [Hugo Chavez] supporters were in financial trouble after engaging in questionable business practices...
. The new bank has around 20% of Venezuelan bank deposits.