Venezuela's financial system reported bolнvares 799bn (US$372m) in micro lending at the end of February this year, a 194% jump compared to the same time 2004, local consultancy Softline Consultores said in a report.
Banco de Venezuela led the market in micro loans with a 14.6% market share, followed by Mercantil with 13.9% and BBVA Provincial at 11.7%.
Venezuelan banks are required to lend 3% of their total portfolios in micro loans and 16% to the agriculture sector according to regulations passed under the current administration. On average the banks have been found to be in compliance with the new lending minimums in 2004.
Source: BN Americas
