BBVA Poised for Growth in Post-Maduro Venezuela

Following the U.S. intervention and capture of President Maduro, BBVA, the only foreign-owned bank in Venezuela, sees growth opportunities in the country with the world's largest oil reserves. The bank's chairmain emphasized their deep understanding of the Venezuelan market due to their long-standing presence.

BBVA, the only prominent international bank active in Venezuela, is poised to capitalize on new business opportunities following the U.S. intervention in the oil-rich nation, according to its chairman. The recent capture of President Nicolas Maduro by the United States has installed an interim government, potentially opening doors for international banks.

"We are very well positioned to take advantage of the opportunities that arise if greater stability is achieved," said BBVA's Carlos Torres during an interview at the World Economic Forum in Davos. "With stability, Venezuela presents a great opportunity," he stated in the interview published Wednesday.

BBVA Provincial, in which BBVA owns a 55% stake, employs around 1,900 people, operates approximately 160 branches, and serves over three million customers in Venezuela.