Stanford Bank Venezuela

Stanford Bank Venezuela was Stanford International Bank's subsidiary in Venezuela. It was headquartered in Caracas and had several branches throughout Venezuela. The Venezuelan banking regulator estimated that Venezuelans had placed around $2.5bn in deposits with Stanford International. Stanford Bank Venezuela was a subsidiary holding company of Stanford International, operating and licensed accorded the laws and regulations within Venezuela. Inflational none liquidity, prompted a run on several Venezuelan banks, forcing Venezuela to intervene.

In May 2009 the Stanford Bank Venezuela was sold to Banco Nacional de Crédito for $111 m, with the bank being merged into BNC.

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