Type 220 Products Financial Services | Industry Finance and Insurance Headquarters Maracaibo | |
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Key people Victor Vargas (Chairman) Jose Manuel Egui Medina (CEO) Revenue US$ 1.55 Billion May (2014) Net income US$ 282.8 Million May (2014) Founded 8 January 1957, Maracaibo, Venezuela | ||
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.
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The owner of BOD is the BOD Financial Group (Spanish: Grupo Financiero BOD), which is owned by Venezuelan businessman Victor Vargas. As of August 2015, the bank has nearly 6 million customers.
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.