Banco Latino was a Venezuelan bank based in Caracas, and at the time of its 1994 failure was the country's second largest.[1] It had a good relationship with the government, such that ministries moved their accounts to the bank, and the army and the state-owned oil company PDVSA entrusted their pension funds to Latino trust managers.[1] Latino built a new high-rise headquarters, and expanded aggressively, both within Venezuela and overseas.[1]
History
Banco Latino was a Venezuelan bank founded as "BANCO FRANCES E ITALIANO PARA LA AMERICA DEL SUR" ( Banque Francaise-Italienne pour Amerique du Sud) on February 17, 1950 with venezuelan headquarters in Caracas. Since 1967 adopted the name Banco Latinoamericano de Venezuela and finally was named BANCO LATINO on February 7, 1975. It was closed in 1994 after falling into a huge crisis and liquidated in mid-2000. Its first Board was chaired by Dr. Rafael Pizani. (1950-1952), followed, Nicholas Dominici (1952-1955), Elbano Adriani (provisional 1955-1956), Luis Geronimo Pietri (1956-1965) and Enrique Benedetti (1966-1974).