Bancamiga registered the highest equity growth in the Venezuelan financial system over the last year, a result that allowed it to gain a position in the ranking and consolidate its place among the 10 largest banks in that category at the end of May, occupying seventh position, according to figures from the consulting firm Aristimuño Herrera & Asociados.

The bank’s equity reached 57.317 billion bolivars, equivalent to US$104.3 million, representing year-on-year increases of 1,038.7 % and 98.7 %, respectively. This performance propelled it to seventh place in the ranking, up from eighth a year earlier. With this result, Bancamiga achieved a market share of 3.6 % in this category.

This strengthening of its equity was accompanied by a sustained improvement in profitability indicators. Return on equity (ROE) reached 49.6 %, a year-on-year increase of 38.7 percentage points (above the average), allowing it to climb six positions compared to its ranking in May 2025.

Meanwhile, return on assets (ROA) reached 10.8 %, an increase of 9.3 percentage points compared to May 2025. Year-on-year, Bancamiga climbed eight places in this category.

The institution also accumulated a net profit of 9.791 billion bolivars (US$23.2 million), the sixth highest among Venezuelan banks, after climbing seven positions from its ranking in May of last year. In bolivars, the accumulated profit showed an annualized growth of 6,187.3 %, and in dollars it was 1,002 %, both higher than the system average.

This progress was supported by total accumulated financial income of 36.431 billion bolivars, equivalent to US$86.4 million, with increases of 770.7 % and 53 %, respectively.

The loan portfolio remained among the six largest in the banking sector

Bancamiga’s gross loan portfolio closed May with a balance of 96.888 billion bolivars (US$176.4 million), an amount that allowed it to maintain its sixth position in the banking ranking and a market share of 4.69 %.

In bolivars, the portfolio registered year-on-year growth of 588.9 % and 21 % in dollars, remaining one of the main drivers of revenue generation for the institution. In fact, the loan business represented 65.1 % of total revenue at the end of May.

Financial intermediation reached 45.88 %, while the delinquency rate stood at 2.66 %, with a coverage ratio of 152.92 % for non-performing loans, reflecting an adequate capacity to support loans with defaults.

Deposits grew by nearly 750 % in dollars

Figures from Aristimuño Herrera & Asociados indicate that Bancamiga ended May with public deposits of 211.197 billion bolivars (US$384.4 million), maintaining its sixth-place ranking and a market share of 4.96 %.

In foreign currency, deposits increased by 48.2 % compared to the same month of the previous year, and by 749.6 % in bolivars during the same period. The deposit structure continued to be concentrated in checking accounts, which represented 98.6 % of the total, while savings accounts accounted for 0.14 %.

In May, Bancamiga opened a new branch at the Tamanaco Shopping Center (CCCT), expanding its customer service points. The new space will allow users and businesses to open accounts in bolivars and foreign currency, acquire point-of-sale terminals, apply for Mastercard debit cards, and receive credit advice.

This space represents a step forward in the company’s role as a close partner for individuals and businesses, reaffirming its commitment to offering accessible and innovative financial solutions as it approaches its 20th anniversary.

Assets grew 64 % in dollar terms

At the end of May, Bancamiga Banco Universal reported total assets of 321.519 billion bolivars, equivalent to US$585.3 million, representing year-on-year increases of 830.2 % and 62.3 %, respectively, both above the average for other banks.

This performance allowed the institution to advance to seventh place in the asset ranking from eighth position a year earlier, with a market share of 3.93 %.

With information from Banca y Negocios, consulting firm Aristimuño Herrera & Asociados, and Bancamiga Banco Universal

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