From the moment of its creation (2007) as a Development Bank, Bancamiga began a solid transformation process always sustained by its purpose of supporting small entrepreneurs. Ten years later, having consolidated this process, Bancamiga became a Universal Bank in 2017. After 15 years of existence, the result is a frank growth positioning itself among the first five banks in the national private financial system.
Carmelo de Grazia<span lang=”EN-US” style=”font-size:12.0pt”>, Chairman of the Board of Directors of Bancamiga, stated that "we work to achieve being a different bank, offering innovative products and services that drive greater bankarization, streamlining the pace of commercial activity and stimulating the development of the country".
He added that the institution "will continue to focus its efforts on attracting new customers, opening new branches and promoting formulas different from the traditional ones to offer its services".
Bancamiga reaches these 15 years in second place in foreign currency deposits in the Venezuelan private banking ranking and fifth place in the total amount of deposits.
In recent years, important investments have been made in state-of-the-art technology to streamline customer transactions, which have allowed the launching of versatile and useful products and services, always within the framework of current regulations.
Bancamiga was the first financial institution to implement mobile payments in the country, and it is constantly working to satisfy the needs of the public. For this purpose, the Cash Account was launched, which offers customers the possibility of making deposits and withdrawals of dollars or euros in cash, and the Foreign Exchange Desk, which allows them to buy and sell foreign currency quickly and securely, without intermediaries or surcharges.
Likewise, the Tarjeta en Divisas (Foreign Currency Card), which offers the possibility of making purchases of goods and/or services over the Internet and using it at points of sale in Venezuela and abroad, and Apóyame, a service that allows customers to receive dollars immediately and securely in their foreign currency accounts at Bancamiga.
Increased customer acquisition
Carmelo de Grazia<span lang=”EN-US” style=”font-size:12.0pt”> also indicated that, in the last few months, the institution has maintained a considerable and constant growth, reaching an average of 30 thousand accounts opened per month. In order to respond to this demand, it opened branches in La Rinconada, Porlamar, Acarigua, Guanare and Maracaibo in 2021 and expects to open new branches in the rest of the country during 2022.
This same purpose of innovating, led Bancamiga to advance in the creation of avant-garde concepts such as the recent alliance signed with Café Work Center, where an Associated Branch Office was installed in Centro Lido (Chacao), also innovating in the way of providing banking services to its customers.
Public trust
In recent years, Bancamiga has strongly and committedly promoted different Corporate Social Responsibility programs, which are based on five main lines of action: education, health, sports, culture and environment.
For this reason, in the coming months, actions will be accentuated to reduce school dropout rates in the country, which have increased due to the difficulties many families have in keeping their children in school. These efforts are planned through what has been called a "triangle of actions" between Bancamiga, customers and Fundafelices, through the granting of scholarships, sponsorships and individual contributions, so that children and young people can continue their studies.
Carmelo de Grazia<span lang=”EN-US” style=”font-size:12.0pt”> recalled that one of the most important events in Bancamiga's history, which reaffirms the importance of the transparency that should govern the financial sector, is the registration of its shares in the National Securities Registry.
With this event, the information ceases to be private for its shareholders and interested clients, giving the public the possibility of knowing and reviewing the financial statements, as well as the corporate governance structure maintained by the bank. Registration with the National Securities Registry in 2021 strengthens the confidence and importance that should be given to financial transparency, not only internally, but also with a view to opening up new investment options.
For Bancamiga's fifteenth anniversary, Mr. Martínez wanted to thank once again the effort and mystique of a group of men and women who with dedication, responsibility and professionalism have given their best contribution, which has allowed the Bank to move from the thirteenth position in the financial system to occupy one of the top five positions in the ranking.
He also thanked the shareholders for the trust they have placed in him by allowing him to lead Bancamiga and continue to promote its growth.
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