Another intervened bank in Venezuela: BaNorte Banco Comercial

I must repeat the words from Carlos Corderos from Overnight (you ca read his article at Las Verdades de Miguel): “This is not a Financial crisis, is just the crisis of some banks…” as a Venezuelan I must responsibly say that even when I feel disappointed with the actual situations of these banks, due to the lack of control and responsibility showed by the actual Government in force; this crisis do not reflect the actual status of our Financial System or Banking System.

The recent intevention of a few banks in Venezuela, namely so far:  Bancos Canarias, Confederado, Bolivar, Banpro, Bancos Central, Real, Baninvest and now BaNorte is due to the lack of experience showed by the new owners of said banks (all of them somehow related to the actual government) who never fully comply with the provision and regulations that SUDEBAN mandates for this institutions, due to the Owners ties to government officials.

It’ is probably that  in the following days some other small bank (related to these “Owners”) will be intervened as well.