Banesco International
A financial services brand with
global presence
United States
* Banesco USA is a Florida state chartered bank, Member FDIC, with operations in Florida and Puerto Rico. Banesco USA is wholly independent of Banesco in other countries and its banking operations have no direct relation to the banking operations that are carried out by the other Banesco entities.
Panama
Dominican Republic
Venezuela
* Banesco USA is a Florida state chartered bank, Member FDIC, with operations in Florida and Puerto Rico. Banesco USA is wholly independent of Banesco in other countries and its banking operations have no direct relation to the banking operations that are carried out by the other Banesco entities.
As of December 2020, the entities included in the Banesco International brand had a total of 5500 employees and a network of 279 branches serving over 4.8 million clients. The business volume managed by the Banesco International brand as of this date was 10,087 million dollars and its net equity exceded 697 million dollars.
The founder and principal shareholder is banker and economist Juan Carlos Escotet Rodriguez. His three sons Carlos Alberto, Carlos Eduardo, and Juan Carlos Escotet Alviarez serve as Directors on various entities under the Banesco International brand.
Juan Carlos Escotet Rodríguez is also the principle shareholder of ABANCA, an independent financial institution with headquarters in Spain and regulated by the European Central Bank. ABANCA is positioned as one of the most profitable banks in Spain. It has presence in Spain, Portugal, Germany, France, Switzerland, Great Britain, USA, Brasil, Mexico, Venezuela and Panama. In 2018 it aquired operations of Banco Caixa Geral in Spain and its Portuguese affiliate of Deutshe Bank for Private and Commercial Clients. The most recent acquisitions of ABANCA are that of the financial entity of Bankoa in the Basque country and the branches in Spain of portuguese Novo Banco – both in 2021.
ABANCA is the seventh biggest bank in Spain in terms of total assets and its volumen of business excedes 115,000 million dollars. In December 2020 it employeed 5,885 staff and its net equity exceded 4,576 million euros.
Banesco Internacional commenced in Venezuela in1986 with the creation of the Escotet Stock Exchange and expanded to the banking sector in Venezuela in 1991 through the acquisition and majority control of a regional bank named Grupo Cancentro, later renamed Grupo Financiero Banesco.
With the establishment of operations in Panama and Puerto Rico between 1992 and 1993, the internationalization of the brand began and has continued to the present day, achieving presence in different countries around the world united by a global visión of financial services.
In 2006 Banesco USA Bank was founded with headquarters in Miami. This entity merged in 2011 with Puerto Rico resulting in Banesco USA. The presence in Latinamerica and the Caribbean was reinforced with the arrival to Dominican Republic of Banesco Banco Multiple, S.A. in 2011.
The group’s expansión continued with the purchase of SFA Bank in Curazao. Meanwhile in 2019, Banesco USA acquired Brickell Bank in Miami.
The growth model for Banesco International established independent and local institutions in each country, managed by a local team with local financial experience and market reputation.
