Type Private Headquarters Caracas, Venezuela Website Bancaribe.com.ve | Industry Finance Products Banking Founded 12 February 1954 | |
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Key people Miguel Ignacio Purroy , (President) and Juan Carlos Dao Yanes (Executive President) | ||
Bancaribe is a private bank based in Caracas, Venezuela specialized in Universal banking. It is the seventh largest bank in the country and it is part of the medium stratum of the Bank Ranking of SUDEBAN.
It currently has 113 branches located throughout the country, more than 800 thousand customers, about 6 thousand POS, and more than 2.500 employees. Its current headquarters are located in Caracas, in the Galipán Business Center.
History
Banco del Caribe (as it was formerly known) was founded on February 12, 1954 with headquarters in Puerto Cabello working as a credit institution, starting the operations on November 3. In 1955, Bancaribe expanded its presence when it opened new branches in Barquisimeto and Barinas; then in 1956 it opened two more branches in Valencia, two in Morón and another one in Puerto Cabello. In 1957: San Felipe, Valle de La Pascua, Maracay, Calabozo, San Fernando de Apure, Punto Fijo, Guacara, El Tocuyo, Chivacoa and Guanare. In 1958: Caracas and Acarigua, Villa de Cura, La Victoria, Güigue and Cagua. In 1959 another branch in Caracas y one in Anaco. In 1961, Turén and Nirgua.
In 1963 Bancaribe decided to move the headquarters to Caracas. This expansion process allowed it to be a pioneer in the development of new financial products and services, being the first local bank in providing online services in the branches, offering the Cheque Conforme Bancaribe service, check certifying by phone and Caribe Cash, cash withdrawal through ATMs.
Besides, it actively participated in the creation of Suiche 7B, the first system to interconnect ATMs throughout the country, as well as the foundation of Consorcio Credicard, the first credit card operator in the country. In 1976, Bancaribe created an off shore bank in Curaçao, called Bancaribe Curazao Bank, N. V.
In 1997 Bancaribe became a Universal Bank, merging with its subsidiaries "Banco de Inversión del Caribe" and "Fondo de Activos Líquidos del Caribe". Bancaribe made a strategis partnership with Scotiabank, a Canadian bank with extensive experience in international finances, as well as a correspondent agreement and commercial exchange with "Caixa de Galicia".
Banco de Desarrollo Bangente is also a part of Grupo Bancaribe since 1998, when it was founded.
Bancaribe changed the headquarters located in the downtown of Caracas between 2008 and 2009, after obtaining a new building in Galipán Business Center in El Rosal, Caracas.