Banco Industrial de Venezuela

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Caracas headquarters of the Banco Industrial de Venezuela.

Banco Industrial de Venezuela (Industrial Bank of Venezuela), BIV, was a Venezuelan bank. In May 2009 the former president of BIV, Luis Rafael Quiro, was arrested for alleged corruption. The bank was at the time the largest state-run financial institution in the country.[1]

BIV was established in 1937 with 60% state capital and 40% private. Over time the state took full control, and in the 1960s and 1970s it was an instrument in the government's import substitution policy of industrialization.,[2] in feb 11 2016 its assests were transferred to Banco del tesoro

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