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| Date |
10/08/2000 |
| Companies
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BANCO CARACAS - BANCO SANTANDER CENTRAL HISPANO - |
| Subject
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BSCH set to buy Banco Caracas |
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Banco Santander Central Hispano is expected to formally announce the purchase of a majority share in Banco Caracas very soon according to sources involved in the deal. The deal would be carried out by using Banco de Venezuela, owned by BSCH to purchase Banco Caracas. The two banks combined market share would be the largest in Venezuela. It is believed for some time to come at least, the two separate bank identities would be kept. The current largest bank is Banco Provincial, majority owned by rival Spanish bank BBVA.
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