Groping Chikan In The Bus

BENEFICIARIES OF THE SCHEME

In a report published by Aristimuño Herrera & Associates analyzes the earnings of the top 10 banks operating in the country by the year 2010, it was seen that they account for 93.6% the total profits reported by the Commercial and Universal Banking. Let's see what these banks and their numbers.

"At the end of last year saw a total net profit in the Commercial and Universal Banking Bs 7.363 million, which comes to mean an increase of 58.4% versus 2009.

In the ranking by Herrera & Asociados Aristimuño the first company to higher profits in 2010 is the BBA Banco Provincial, Bs with a total of 1.628 million and a market share of this sector from 22 , 1%. The report further points out that profitability (ROE) of English bank ended last year at 38%, the third most profitable bank among the top 10.

Mercantil is the second entity in the ranking, with a profit of 1.361 million Bs and 18.5% of total profits of the commercial and universal banking. Its ROE is 35.4%.

The third ranking bank is Venezuela, whose earnings last year totaled 1083.2 million, as the market share in this account of 14.7%. Its profitability reached 30.8%.

The Banesco ranks fourth, with profits reaching Bs 907 million and its market share ended the year at 12.3%. Its yield reaches 24.5%.

The fifth bank with the largest gains recorded last year is foreign to Bs 598 million. 8.1% of total results accumulated by commercial banks and universal it is for this institution. It is the most profitable bank in the country with an ROE of 58.6%.

Bancaribe placed sixth in the ranking, with accumulated profits of Bs 444.2 million and 6% of the profits accumulated by commercial banks and universal. It is the second most profitable bank among the top 10 in earnings with an ROE of 47.1%.

Banco Occidental de Descuento (BOD), the bank with greater strength in the Zulia State, ranked seventh in revenue to 364.4 million Bs. We follow the Venezuelan Credit Bicentennial Treasury and Bs with revenues: 228 million, 159 million and Bs Bs 121.3 million, respectively. "Let's see these results in the following cuadro.B

444.2

NET , 2010	Dec-10	share	R
Provincial	1.627.8	22,1%	1
Mercantil	1.360.6	18,5%	2
Venezuela	1.083.2	14,7%	3
Banesco	906.8	12,3%	4
Exterior	597.9	8,1%	5
Bancaribe		6.0%	6
Occ. Discount	364.4	4.9%	7
Vzlno. Credit	227.8	3.1%	8
Treasure	158.6	2.2%	9
Bicentennial	121.3	1.6%	10
TOTAL TOP 10	6.892.9	93.6%
REST OF BANKS	470.0	6.4%
TOTAL SYSTEM.	7.362.9	100.0%

Note: Figures in millions of Bolivars

Source: Herrera & Asociados Aristimuño

We see then that the "confrontation" between Chavez and the bankers, the financial oligarchy, is part of a political strategy of the despot to pretend that he faces defending the rich and the poor. These numbers are further proof of what we have been reported since 1998: that the Chavez regime benefits the oligarquía financiera, es decir, a la banca. Mientras tanto, los trabajadores han tenido que tomar las calles, realizar marchas, hacer huelgas de hambre, entre otras formas de lucha, para apenas recibir un aumento de salario mínimo del 25% y un tabulador para la administración publica que debió ser aprobado desde hace 3 años y que el régimen lo decreta ahora para presentarse ante las mayorías como benefactor de los trabajadores. Desde esta tribuna desenmascaramos la maniobra y exhortamos a los sectores populares y a los trabajadores a no dejarse engañar y seguir luchando por sus derechos y conquistas.