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Banco Agricola de Venezuela, C.A. (Venezuela)

Main Activities: Commercial Banking
Full name: Banco Agricola de Venezuela, C.A. Banco Universal Profile Updated: April 11, 2023
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Banco Agrícola de Venezuela, C.A. Banco Universal is a financial institution affiliated with the Ministry of Popular Power for Productive Agriculture and Lands. It was inaugurated by the President of the Bolivarian Republic of Venezuela, Hugo Chávez Frías, on October 24, 2006. The main objective of the bank is to finance the productive development of the nation within a new socialist management model that promotes the participatory involvement of the organized people. The bank provides agricultural financing with fair and supportive interest rates to farmers and producers. Additionally, they offer technical and productive assistance to ensure the success of agricultural ventures. In July 2011, Banco Agrícola de Venezuela underwent a transformation process, transitioning from a Universal Bank to a specialized entity in agricultural matters, according to Decree No. 8.330 published in the Official Gazette No. 39.713 on July 14, 2011. Under this decree, the bank focused on financing operations related to the agricultural sector, including various subsectors such as crops, livestock, fishing, forestry, and aquaculture. They also financed activities related to transportation, storage, production, and commercialization of food products, as well as popular and alternative economy initiatives. After operating for three years as a specialized agricultural bank, on November 19, 2014, Banco Agrícola de Venezuela once again became a Universal Bank, according to Decree No. 1.400 published in the Extraordinary Official Gazette No. 6.154 on November 19, 2014. This allowed the bank to offer a range of financial products and services to meet the diverse needs of the Venezuelan people. Throughout its years of operation, Banco Agrícola de Venezuela has implemented a plan to strengthen sustainable agricultural cultivation under a socialist productive model. They have provided continuous financing throughout the country, benefiting a significant number of workers in the agricultural sector. These workers now have the opportunity to contribute to the productive process and ensure a continuous supply of food at fair prices. The bank has progressively expanded its network of branches nationwide, increasing the number of operations conducted through its banking offices. This expansion has consolidated its presence in the main agricultural municipalities, aiming to support individuals living in hard-to-reach areas and aligning with the policies of the Bolivarian Government to provide financial support to producers.

Headquarters
Avenida Francisco de Miranda, Edificio Cavendes, Piso 17, Los Palos Grandes, Municipio Chacao, estado Miranda.
Chacao; Miranda;

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Website: http://www.bav.com.ve/

Basic Information
Total Employees:
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Outstanding Shares:
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Financial Auditors:
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Incorporation Date:
January 24, 2006
Key Executives
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President
Company Performance
Financial values in the chart are available after Banco Agricola de Venezuela, C.A. report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency VES. Absolute financial data is included in the purchased report.
Net interest income
971.91%
Operating profit (EBIT)
-178.91%
Net Profit (Loss) for the Period
-47.06%
Total assets
372.15%
Deposits from customers
229.28%
Total equity
2242.69%
Cost to Income Ratio
-82.09%
Loans to Deposits Ratio
43.95%
Loans to Asset Ratio
19.43%

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