Banesco holds 15% of deposits in financial system

Deposits at Venezuelan bank Banco Universal (Banesco) totalled 6.65bn bolivares (US$4.1mn) at the end of the third quarter this year, representing 15% of the local financial system's total deposit figure, Banesco's research VP told BNamericas. The bank saw total deposits grow by 2.3bn bolivares from end-2002 to the end of September this year. Banesco is a strong player within the trustee business, gaining four percentage points in market share over the first three quarters of this year at a monetary value of 2.15bn bolivares. The bank currently boasts the highest percentage of clients within the local credit card market, owning 23% of the total cards circulating in Venezuela. Banesco currently has a client base of 2.5 million.