Citigroup Inc. reported on Monday, July 12, that it will sell its operations in Venezuela to Banco Nacional de Crédito (BNC), ending more than a century of operations in the country.

The institution has already obtained the necessary permits to carry out this transaction, it only remains to wait to finalize the agreement with the BNC next week, as indicated in a statement.

Citigroup arrived in the country in 1917, establishing its branches in order to provide financial services to international companies that made life in Venezuela.

BNC operates approximately 120 offices, six regional subsidiaries and a branch in Curaçao. According to the statement, the bank will take advantage of the Citigroup acquisition to offer products to Venezuelan companies and multinational corporations.

K. Tovar

Source: El Nacional

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