Venezuelan President Hugo Chavez has nationalized the three banks in addition to the four financial institutions, have passed under state control in December 2009. This reports Lenta.ru referring to AFP.

January 18 credit institutions were nationalized InverUnion Banco Comercial, Banco Del Sol, as well as Mi Casa. According to the financial regulators of Venezuela, the reason for this decision served as a "serious administrative and managerial difficulties" faced by these organizations.

the end of last year the government of Venezuela has nationalized, and subsequently closed four banks - Confederado, Central, Bolivar and Banco Real. Later it became known that on this basis was established a new state bank - Banco Bicentenario (Bank "Bicentennial"), named in honor of the upcoming 200 th anniversary of independence of Venezuela from Spain.

The Venezuelan government insists that the country"s banking system is in a stable position, and noted that customers of banks in any case will not lose their money. In mid-December, authorities have adopted a law providing for an increase in insurance on deposits from 10 to 30 thousand Bolivars (from 4,6 up to 13,8 thousand U.S. dollars).

since 2007 in Venezuela under the control of the state passed a number of major enterprises previously owned by commercial companies. Referred to the nationalization of companies working in the field of electricity, cement production, oil and steel industries. According to Chavez, this measure helps the development of major economic assets, as well as forcing their owners to comply with all the social obligations.

The authorities of Venezuela, control about 25 percent of the banking sector. Late last year the figure was about 21 per cent.

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