International Banking: Bolivian-Us Branches And Services

Bolivia has 12 major banks that offer a full range of services, including checking and savings accounts, credit loans, money transfers, wire transfers, insurance, and access to capital markets. These banks have numerous branch offices and ATMs across Bolivia. There are also a number of credit unions in the country, called cooperativas. As for US banks, there are currently none operating in Bolivia. Citibank was the last US bank to have a branch in the country, but it closed in 2010 and left in 2011. However, several Bolivian banks have correspondent banking arrangements with US banks.

Banco de Crédito de Bolivia

The bank's personal banking services include various types of accounts, such as checking and savings accounts, as well as loans, mortgages, and credit cards. They also offer online and mobile banking services, allowing customers to access their accounts and manage their finances from anywhere.

For businesses, Banco de Crédito de Bolivia provides a range of services such as commercial lending, deposit accounts, and cash management solutions. They also offer trade finance and international banking services to support businesses with their global transactions. The bank has a dedicated team of relationship managers who work closely with businesses to understand their financial needs and provide customised solutions.

In addition to its banking services, Banco de Crédito de Bolivia also offers a range of investment products and services. This includes brokerage services, wealth management, and retirement planning. The bank provides access to a variety of investment options, including stocks, bonds, mutual funds, and other financial instruments. Their investment professionals work with clients to understand their financial goals and develop tailored investment strategies.

Banco Mercantil Santa Cruz

The history of Banco Mercantil Santa Cruz dates back to December 11, 1905, when Simón I. Patiño, a wealthy Bolivian magnate, founded Banco Mercantil. The bank was established in Oruro, then the main mining centre of Bolivia, with an initial capital of physical gold worth £1,000,000 transferred from London. Banco Mercantil opened its doors to the public on December 1, 1906, and also inaugurated branches in several other cities in Bolivia. In 1907, Bolivia experienced an economic downturn due to a global financial crisis, which led to the closure of many mining companies that were key to the bank's business. Patiño injected significant capital into the bank to save it from bankruptcy, and by 1910, Banco Mercantil had become the largest bank in Bolivia.

In 1926, Banco Mercantil moved its headquarters to La Paz, the country's seat of government. The bank primarily served the mining industry and reached its peak in the first half of the twentieth century. Following Patiño's death in 1947, his heirs transferred their shares to the Fundación Universitaria Patiño, a philanthropic organisation. In 1968, the bank's shares were sold to a group of private investors in Bolivia.

On September 24, 1966, the Superintendency of Banks and Financial Institutions of Bolivia authorised the establishment of the Bank of Santa Cruz de la Sierra S.A. in Santa Cruz de la Sierra. This bank changed its name to Banco Santa Cruz S.A. in July 1992 and quickly expanded its network of branches to major cities across Bolivia. Banco Santa Cruz was known for its innovation, becoming the first financial company in Bolivia to implement online banking, drive-through banking agencies, and a comprehensive network of ATMs. In 1998, 90% of the shares of Banco Santa Cruz S.A. were sold to the Spanish Banco Central Hispano, which later merged with Banco Santander to form Banco Santander Central Hispano (BSCH). In 2006, Grupo Santander sold all its shares to Banco Mercantil, leading to the creation of Banco Mercantil Santa Cruz S.A.

Banco Nacional de Bolivia

The bank has played a significant role in Bolivia's national development throughout its history. Notably, during the War of the Pacific, Banco Nacional de Bolivia loaned Bs. 600,000 to the Bolivian government to support the mobilization of the Bolivian Army. In the following years, the bank expanded its network across major cities in Bolivia, including Tarija, La Paz, Cochabamba, Oruro, Potosí, and Santa Cruz de la Sierra.

BNB is a part of BNB Corporacion S.A., a group that includes various entities such as BNB Sociedad Administradora de Fondos de Inversión S.A. (BNB Administrative Society of Investment Funds) and BNB Leasing, among others. Notably, BNB is the only Bolivian-based bank with foreign operations through its Peruvian brokerage company, BNB Valores Perú S.A.

In terms of its current operations, Banco Nacional de Bolivia operates a network of over 100 branches and more than 250 ATMs nationwide. The bank has also adapted to the digital age, launching its mobile app, Banca Móvil del BNB, which enables customers to conduct financial transactions, check balances, and view statements from their mobile devices.

Citibank (no longer in Bolivia)

Citibank was one of the US banks that operated in Bolivia. The bank opened its offices in Bolivia in 1997 but closed operations in 2010 and left the country in 2011.

Citibank offered regular banking services in Bolivia, including accepting deposits for checking and savings accounts, and offering short- and medium-term loans. The bank also provided services for businesses, such as withdrawal and deposit of cash, updating of passbooks, personalised advice and attention, and real estate and mortgage services. Additionally, Citibank offered customised deposit and investment fund services, as well as loan services.

Citibank's office in Bolivia was located at Calle 15 - Calacoto, Edif. Torre Ketal, La Paz, Bolivia. The bank also had a website for Bolivia, which was www.citi.com.

Although Citibank no longer has a physical presence in Bolivia, there are still several Citibank offices and ATMs located nearby in neighbouring countries such as Colombia. These offices can be found in cities such as Barranquilla, Cartagena, Bucaramanga, and Medellín.

Banco de La Nación Argentina

There are no US banks operating in Bolivia. Citibank, which opened offices in the country in 1997, closed operations in 2010 and left Bolivia in 2011. All commercial banks in Bolivia provide regular banking services, including accepting deposits for checking and savings accounts, and offering short- and medium-term loans. Local banks are also authorised to hold US dollar-denominated deposits.

Several Bolivian banks have correspondent banking arrangements with US banks, including Banco de La Nación Argentina. Banco de La Nación Argentina is a Peruvian bank that offers a wide range of financial products and services to its customers. These include:

• Credit cards
• Mortgage credit
• Home improvement credit
• Pension payments
• Internet banking
• Mobile phone top-ups
• Trade finance
• Electronic commerce
• Microfinance programmes
• Investment and savings accounts
• Insurance services
• Checkbook certification
• And more

Frequently asked questions