Stanford Bank Venezuela

Stanford Bank Tower in Caracas

Stanford Bank Venezuela was Stanford International Bank's subsidiary in Venezuela.

History

It was headquartered in Caracas and had several branches throughout Venezuela.[1] The Venezuelan banking regulator estimated that Venezuelans had placed around $2.5bn in deposits with Stanford International.[2] Stanford Bank Venezuela (SBV) was a subsidiary holding company of Stanford International, operating and licensed accorded the laws and regulations within Venezuela. Currency inflation and lack of liquidity prompted a run on several Venezuelan banks including SBV, forcing the government of Venezuela to intervene.

In May 2009 the Stanford Bank Venezuela was sold to Banco Nacional de Crédito for $111 m, with the bank being merged into BNC.

References

  1. ↑ "Stanford Bank Venezuela". www.stanfordbank.com.ve. Archived from the original on 2009-02-26. Retrieved 2026-05-20.
  2. ↑ Romero, Simon (2009-02-19). "As Others Fled Venezuela, Stanford Saw a Chance". The New York Times. ISSN 0362-4331. Retrieved 2026-05-20.
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