Venezuela’s government has closed two private banks, a day after Hugo Chávez, president, said he would have “no problem” nationalising banks that failed to lend to the poor. The government seized control of four banks on Nov 20, citing insolvency, the questionable origin of some funds and a failure to comply with credit regulations. The finance minister said on Monday that two of them, Banco Provivienda and Banco Canarias, would be shut down indefinitely, while the other two could still be rescued.

This entry was posted by Gwen Robinson on Tuesday, December 1st, 2009 at 4:10 and is filed under Capital markets. Tagged with Banco Canarias, Banco Provivienda, venezuela. Edit this entry.