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Venezuela's Banesco launches Colombia operations

Friday, September 7, 2012

Venezuela's Banesco, the country's second largest bank, will start operations in Colombia.

Banesco has less than $24 billion in assets across seven countries, including retail operations in the United States, Panama, Puerto Rico and the Dominican Republic.

Banesco will not compete with Colombia's banks, but will be able to corner the sizeable market for Venezuelan businesses importing good from Colombia.

Source: Financial Times