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......General sector info
The modern Venezuelan banking sector is comprised from a total of 50 banking and financial institutions. These organizations possess assets estimated at a value of $109 billion; their credit portfolio revolves around $52 billion (Reuters, 2008)
The economic growth and expansion of the banking institutions has been quite difficult generally due to two forces: complex interest rate regulations and a growing continental inflation. In this order of ideas then, banks face difficulties as they must offer at least 15 percent for loans, but are restricted from requesting more than 14 or 19 percent on loans. The 14 percent limit on interest rates is for the agricultural loans and the 19 percent limit is for the manufacturing loans. The downside of the limitations is foremost enhanced when the consumer prices increased by 22.5 percent throughout 2007 and the banking companies cannot integrate the price increase in their product offering. But despite these limitations and the nationalizing policies of Hugo Chavez, the sector has registered some growth. This is generically due to the support received from the oil industry, which triggered an increase in living standards and higher demand for consumer goods. Venezuela's banks have benefited from its oil-driven

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