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Banco Occidental de Descuento is a Venezuelan bank with approximately 6.6% of the Venezuelan banking market share. It is the fifth largest bank in Venezuela in 2009.
Banco Occidental de Descuento shareholder is the BOD financial group owned by Venezuelan businessman Victor Vargas. As of August 2015, the bank had nearly 6 million customers.
Banco Occidental de Descuento was established in Maracaibo, Venezuela in 1957. The company has five core businesses: private banking, corporate, commercial, oil and gas, and agriculture. Its products include existing and savings accounts, time deposits, checks, trusts, business, agriculture, financing, auto financing, mortgages and industrial loans.
The chairman of Banco Occidental de Descuento is Victor Vargas and the CEO is Jose Manuel Egui Medina, with a total of 6,993 employees. In 2014, Banco Occidental de Descuento had revenue of US$1.55 billion, net income of US$288.8 million, and total assets of US$17.48 billion.
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