BBVA is well positioned to take advantage of new business opportunities after the US intervention in Venezuela and the overthrow of Nicolás Maduro, as stated by the president of the entity, Carlos Torres. The Spanish one is the only large foreign bank with a significant presence in the country.
Venezuela is under an interim government after the US captured President Nicolás Maduro this month. This offers potential opportunities for international banks, although analysts stressed there would still be significant challenges to doing business.
“In the future, if greater stability is achieved, we are very well positioned to take advantage of emerging opportunitiesbeing the only private bank with foreign capital in the country, with a deep knowledge of it, the result of our long presence there,» Carlos Torres, president of BBVA, told the newspaper. Expansion in an interview within the framework of the World Economic Forum in Davos that includes Reuters.
“With stability, Venezuela is a great opportunity,” added Torres in the interview published on Wednesday.
BBVA Provincial, in which BBVA has a 55% stake, has around 1,900 employees, around 160 branches and serves more than three million clients.