BVC celebrates increase in public offering of BDV shares

The Caracas Stock Exchange celebrates the announcement made by the Bank of Venezuela to increase its public offering of shares in the market

The Caracas Stock Exchange (BVC) reported, through its social networks, that the board of directors of the institution receives with “enthusiasm” the decision of the Bank of Venezuela (BDV) to increase the public offering of shares in the market of progressively from 5 % to 10 % of its share capital.

In the statement, the BVC indicated: “We hope to know the schedule that will be developed for the massive redistribution of shares announced by the bank.” In addition, they highlighted the importance for the economy of a country that companies open their capital and create sources of work.

The Bank of Venezuela announced through an official statement its willingness to start the public offer with the purpose of promoting and invigorating the Venezuelan economy, at the same time it becomes an opportunity for citizens and the different “private, national economic actors and international, interested in participating in the development of the country through instruments of economic democratization”.

Credit portfolio

The Bank of Venezuela’s management is focused on financing the different productive sectors of the country such as agribusiness, manufacturing, among others.

According to recently published figures, the financial institution has presented a growth of around 169% in public deposits in the last semester.

Likewise, its credit portfolio increased by 66 %, and 26 % of the market share that gives it first place in the financial sector. It also has approximately 15 million customers.

M. Rodríguez

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