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Examples
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According to the release and press conference, the four banks -- Canarias, Bolivar, Provivienda, and Confederado -- "did not specify the origin of their funds, after increasing their capitals."
Venezuelan revolutionaries in 2008 have given a dazzling performance 2009
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La Previsora was shuttered at the same time as a bank it owned, Confederado, and six other banks that were all closed over alleged capitalization problems and unexplained funds.
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The new bank, to be called Banco Bicentenario -- in honor of Venezuela's 200th anniversary of independence next year -- will be created from the remains of Confederado, Central, Bolivar and Banco Real, all shuttered to investigate the alleged irregularities.
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Caracas's Economy and Finance Ministry said the Canarias and BanPro banks were placed under government control about 10 days ago while Confederado and Bolivar Banco were liquidated because of irregularities that "compromised their financial viability."
News 2009
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Thursday, in announcing Confederado and Bolivar's closure, Chavez pledged the banks "will become part of the public financial system."
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The new bank, to be called Banco Bicentenario -- in honor of Venezuela's 200th anniversary of independence next year -- will be created from the remains of Confederado, Central, Bolivar and Banco Real, all shuttered to investigate the alleged irregularities.
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Venezuela seizes banks and nationalizes Confederado and Bolivar
WN.com - Articles related to Colombia raps Venezuela over FARC rebel "insult" 2009
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Thursday, in announcing Confederado and Bolivar's closure, Chavez pledged the banks "will become part of the public financial system."
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Venezuela seizes banks and nationalizes Confederado and Bolivar
WN.com - Articles related to Colombia raps Venezuela over FARC rebel "insult" 2009
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Thursday, in announcing Confederado and Bolivar's closure, Chavez pledged the banks "will become part of the public financial system."
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