Cenbank approves Banplus privatization

- Monday, January 30, 2006

Cenbank approves Banplus privatization

Venezuela's central bank has approved the sale of intervened local bank Banplus, banking regulator Sudeban said in a press release.

Banplus was intervened on October 7 last year after Sudeban detected irregularities in its loan portfolio and poor solvency indicators. Eight banks are reportedly interested in buying Banplus.

Sudeban head Trino Díaz said the decision to privatize Banplus also has to be approved by the country's banking supervisory committee.

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Banplus' equity totals some 18.9bn bolívares (US$6.71mn), according to its website. The bank operates through 10 branches, of which seven are in capital Caracas.