Banco Unión S.A. It is a Bolivian state bank based in La Paz. It was founded on November 5, 1981 and is one of the country's main institutions.
As a public financial intermediary, Banco Unión carries out financial operations for the public administration at different levels of government, as well as offering financial services to the general public. Banco Unión also manages the majority of deposits held by public and government entities. Along with the Central Bank of Bolivia, Banco Unión is one of the two financial instruments of the Bolivian state.
By 2022, Banco Unión had 255 branches and 475 ATMs in Bolivia's nine departments.
History
On July 28, 1979, the Bolivian government established a new public financial entity called Banco de la Unión S.A. through public deed No. 93, which began operations on November 5, 1981. A year later, the bank opened its first office in La Paz and later in Santa Cruz de la Sierra.[3] Through the National Treasury, the government established a 97% stake in the new bank, whose primary objective was to provide financial services to Bolivian public administration entities.
On October 17, 1996, the Financial System Supervisory Authority (ASFI) approved the change of the company name to Banco Unión S.A.