February 16, 2005
Venezuela's loan portfolio financial system rose 112% year-on-year in January

(BNamericas.com) - "The total loan portfolio of Venezuela's financial system rose 112% year-on-year through January 2005 to 21.2tn bolívares (US$11.1bn), according to a report from local consultancy Softline Consultores.

Total deposits rose 62% to 47.5tn bolívares in January compared to the same month 2004, the report said.

As of end-January 2005, Banco de Venezuela led the market in terms of lending with 15.8% of total loans, followed by Mercantil with 16.7%, BBVA Provincial at 12.8% and Banesco with 9.8%.

In total deposits, Mercantil led with a 15.1% market share, followed by Venezuela with 14.8%, Banesco at 14.2% and Provincial at 13.7%.

Mercantil is the market's largest bank in terms of equity, with 1tn bolívares in January this year. The bank saw total equity rise 27.7% year-on-year through January, according to the report".