Banco Occidental de Descuento

Banco Occidental de Descuento
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Industry Finance and Insurance
Founded 1957[1]
Headquarters Maracaibo, Venezuela
Key people
 Victor Vargas (Chairman) Jose Manuel Egui Medina (CEO)
Products Financial Services
Revenue Increase US$ 1.55 Billion May (2014)
Increase US$ 282.8 Million May (2014)
Total assets Increase US$ 17.48 Billion May (2014)
Number of employees
 6,993
Website www.bod.com.ve

Banco Occidental de Descuento (Western Discount Bank, BOD) is a Venezuelan bank. With around 6.6% of the Venezuelan market, it was Venezuela's fifth-largest bank in 2009.[2]

The owner of BOD is the BOD Financial Group (Spanish: Grupo Financiero BOD), which is owned by Venezuelan businessman Victor Vargas.[3] As of August 2015, the bank has nearly 6 million customers.[3]

History

Western Discount Bank (BOD), as it is known today, came into being in 1957, in Maracaibo, Venezuela. The company has five core business areas: Private Banking, Corporate, Commercial, Oil & Gas, and Agricultural. Its Products include current and savings accounts, time deposits, checks, trusts, and commercial, agricultural, financing, auto financing, mortgage and industrial loans.

Foreign subsidiaries

BOD Financial Group

BOD Financial owns companies in three major market sectors: banking, capital markets, and insurance.[3]

BOD Financial-Owned Companies[3]
Company Location Sector
BOD Venezuela Banking
Allbank Panama Banking
BOI Bank Antigua and Barbuda Banking
BONV Curaçao Banking
Bancamérica Dominican Republic Banking
BOD Valores Casa de Bolsa Venezuela Capital markets
Corp Casa de Bolsa Venezuela Capital markets
Plus Capital Markets Panama Capital markets
Plus Capital Markets Dominican Republic Capital markets
BOD Fondos Mutuales Venezuela Capital markets
Element Capital Venezuela/Panama Capital markets
La Occidental Insurance
Global Care Insurance
Salud Care y Planinsa Venezuela Insurance
National Leasing Panama Insurance

References

  1. ↑ (Spanish) Banco Occidental de Descuento, El Banco: Nuestra Historia
  2. ↑ BusinessWire, 11 February 2010, Fitch Affirms Banco Occidental de Descuento at 'B-'; Removes Rating Watch Negative
  3. 1 2 3 4 "BOD Financial Group harnesses opportunities in Latin America". World Finance (London, U.K.: World News Media). 8 September 2015. Retrieved 15 September 2015.
  4. ↑ "Allbank Corp Opens in Panama". centralamericadata.com. CentralAmericaData.COM. Retrieved 23 July 2015.

External links


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