Venezuela Best Bank: BBVA Provincial

Venezuela Best Bank: BBVA Provincial

Bonds Structured Finance Venezuela Corporate & Sovereign Strategy

Venezuela presents a challenging environment for any bank. But high margins tend to make up for problems caused by inflation and an uncertain operating climate. October¹s re election of Hugo Chávez as president has re-assured Venezuelans, if nothing else, that there will be political continuity ­ though the economic outlook remains murky. ³It is a complicated economic and regulatory environment for banks to operate in,² says Theresa Paiz-Fredel, an analyst at Fitch. ³The cost of inflation weighs on their efficiency.² BBVA Provincial stands out in Venezuela, not least for having an ample cushion to deal with the uncertainty. Its total assets of 82.9 billion Bolívares ($19.3 billion)

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