Company Information

Get to know Banco Occidental de Descuento

Founded in 1957 in Maracaibo, Venezuela, Banco Occidental de Descuento grew to become one of the country's largest private financial institutions, offering a wide range of universal banking services to individuals and corporations. For decades, it played a significant role in the Venezuelan financial system. However, facing severe financial instability and liquidity problems, the bank was placed under an administrative intervention regime by Venezuela's Superintendent of the Institutions of the Banking Sector (SUDEBAN) in September 2021. The process concluded in June 2022 with the complete transfer of BOD's assets and liabilities to another Venezuelan bank, Banco Nacional de Crédito (BNC), effectively ending BOD's existence as an independent entity.

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Financial BankingPRIMARY
Financial Other Service

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Banco Occidental de Descuento

Venezuela

Founded in

1956 (70 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(73 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.