Banesco

Banesco Banco Universal C.A. is a Venezuelan financial institution whose principal branch is located in Caracas. The bank is part of the Asociación Bancaria de Venezuela (Venezuela's Banking Association).

Banesco has 340 branches all over Venezuela, more than 115.000 POS and 1.377 ATMs.[1] With more than six million clients, Banesco currently is the largest private banking business in Venezuela and the second among all, with a market quota of [null 21.32%] on total assets and [null 18.3%] on credit portfolio.[2]

The primary competitors are the Banco Mercantil, Banco Occidental de Descuento, Banco de Venezuela and the BBVA Banco Provincial; all these banks including Banesco form the upper stratum of the Bank Ranking of Superintendent of the Institutions of the Banking Sector of Venezuela (SUDEBAN).

The financial group also includes an insurance, and consumer banking division. The bank is a member of the Banking Association of Venezuela and their mascot is Baneskín "El Pana de Ahorro" (The Savings 'Buddy'). Banesco's Caracas headquarters, Ciudad Banesco, at 65,000 m2, is second Latin America's largest bank headquarters after brazilian bank Bradesco Headquarters.

History

Branches

Banesco has 340 branches all over Venezuela. The most relevant branches are the following:

Ciudad Banesco

It is the building in which the main offices are located, in Caracas. The building used to be used for the department store Sears Roebuck of Venezuela, until it left the country and was bought by another department store brand, Maxi's. Banesco bought the building in 2004 and reopened it under a brand new concept, which suits the bank's needs better than it did before.

Thanks to the changes made, Ciudad Banesco became an eco-friendly building, thus the materials used to its refurbishments. Ciudad Banesco was awarded with the Premio Annual Construcción 2004 (Annual Building Awards), given by Cámara Venezolana de la Construcción (Venezuela's Construction Chamber).[5]

Torre Banesco (Banesco Tower)

This installation has two buildings located in El Rosal, in Caracas; both buildings were Banesco's main offices until 2004, when they got moved into Ciudad Banesco. Currently, some offices are still operating in these buildings.

Esquina El Chorro Branch

This tower is located in Avenida Universidad, downtown Caracas. Initially, it was called Torre Union (Union Tower) property of the old banking business Banco Union that, after the merging with Caja Familia (member of Grupo Banesco) it became Unibanca. After the merging process had finished, it became Banesco and the tower was sold to the Venezuelan government. Currently, it serves as the main office for the Ministerio de Educación Universitaria, Ciencia y Tecnología (Ministry of High Education, Culture and Technology).

Its former vaults, where Banco Union used to be, have been turned into a printing warehouse, where all the governmental material is printed, such as books and other hand-outs, it also is the main office for the Fundación Impresa Cultural, an extension for the National Printing House (where National Gazettes get printed) next to the main entrance, there is a little square called "Plaza Unión" (Union Square), but in 2002 it changed its name for "Plaza Unibanca" (Unibanca Square). However, and after the selling of the building, the square passed to be called "Plaza de los Saberes" (Knowledge Square).

type	Public company
traded as	BVC: BBC
foundation	1992
location	Caracas, Venezuela
key people	Juan Carlos Escotet (Chairman) Jose Grasso Vecchio (CEO)
num employees	7,861
industry	Finance and Insurance
products	Retail banking
homepage	https://www.banesco.com

History

Directors

Subsidiaries of Grupo Banesco

Branches

External links

References