Western Discount Bank will transfer its assets and liabilities, as of June 27, to Banco Nacional de Crédito after receiving authorization from the Superintendence of Institutions of the Banking Sector of Venezuela.
“The transfer of assets and liabilities between the Western Discount Bank and the National Credit Bank was authorized, so BOD users will be incorporated as clients of the BNC as of June 27, 2022,” the entity reported. regulator in a release spread on their social networks.
The institution explained that it examined the joint proposal presented by both banking entities for the acquisition of the assets and liabilities of the BOD by the BNC solely and exclusively registered in Venezuela.
He also indicated that he evaluated the proposal thoroughly, in order to avoid affecting the public’s deposits and the rights and interests of savers, depositors, clients and creditors: “As well as restoring depositors’ confidence, protecting the payment system and promote the restructuring and recapitalization of viable banks in the banking system,” he added.
Sudeban said that the details of the migration process will be informed through the media of the National Credit Bank and the Western Discount Bank.
He highlighted that the All users and clients of the BOD will be able to carry out their operations in the network of BNC agencies throughout the country and through its website, maintaining identical conditions, passwords and characteristics in the financial instruments that they had in their previous bank, under security and confidentiality parameters.
#17Jun || Official statement.#Sudeban pic.twitter.com/pUAoDMyKbm
– SudebanInforma (@SudebanInforma) June 17, 2022
Citi Venezuela Operations
The National Credit Bank finalized at the end of August 2021 the acquisition of Citi Venezuela operations, Citibank branch in the country.
The required authorizations and the transfer process of the assets and liabilities of Citi Venezuela to the BNC were obtained. The process was carried out complying with legal and technological parameters and guidelinesaimed at guaranteeing the success of the negotiation and the protection of the rights of clients, savers and employees of Citi Venezuela.
Therefore, as of September 1, 2021, former clients of Citi Venezuela were able to access the financial options available to BNC clients for their operations, both in bolivars and in foreign currency, maintaining optimal conditions of efficiency, security and confidentiality.
