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Banco Internacional de Desarrollo C.A. (BID)

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Banco Internacional de Desarrollo C.A. (BID)

Mission statement:

Operating in harmony with Iran and Venezuela’s state economic policy objectives, BID will support productive sectors by means of establishing an efficient financial institution capable to produce products and services for the satisfaction of the clients and employees as well as boosting the economic relations between Venezuela and Iran by facilitating joint projects and ventures in these countries. BID believes securing a just and sustainable profit for the Bank goes hand in hand with facilitating the development of Venezuelan and Iranian economies and their structural and standard convergence with the most developed economies.

Profile:

Current Account

Product designed for those clients who want to use totally or partially the deposited sums through checks; payment orders or other Electronic mechanism including BID debit cards.

Savings Account

Remunerated Product with interest that allows the customer to save funds and move it through the use of the Saving Book of BID or trough the BID debit card.

Long Term Deposit

Long term deposit greater than 31 days with a high performance where the Customer receives interest against a negotiable Fix Term Deposit Certificate.

Short Term Credit

Short Term Credit which specified for a period less than one year.

Long Term Credit

This type of credit is for the period of more than one year and the beneficiary of the credit commits to pay to the bank in consecutive regular installments.

Credit Lines

It is a financing tool whereby the Bank provides the Client with a credit limit that could be used through the term credit instruments.

Micro-Credit

Those Clients that have a project or carry out marketing, service delivery, processing and industrial production, agricultural and craft can receive. The Client must have a maximum number of ten (10) employees or with annual sales up to the amount of nine thousand (9000) UT.

Agricultural Credit

The agricultural credit financing is a preferential rate, set by BCV intended to promote and develop agricultural Activities in the sub sectors such as vegetables, animals, poultry, fisheries, forestry and services.

Discount

When the customers have documents bearing receivable amount at maturity, they can transfer to the Bank and receive the proceeds at sight less the interest incurred.

Leasing

BID offers the leasing of the moveable assets for productive purposes.

Mortgage Credit

Mortgage credit to finance the development of real estate projects, housing acquisitions and renewals of the existing properties.

Tourism Credit

Credits allocated to financing tourism projects in the Bolivarian Republic of Venezuela.

Manufacturing Credit

Credit, which is granted for financing raw material transformation projects in the B.R. of Venezuela.

Credit Card

BID offers credit cards for the domestic and international consumption of our costumer in accordance with the exchange regulations.

Letters of Credit

Instruments used for import, export goods or services in accordance with the international standards (UCP600).

Letters of Guarantee

BID offers L/Gs in order to guarantee contracts, performance; advance payment; and labor.

International Transfers

In accordance with the approval of the Venezuelan Exchange Authority (CADIVI) and compliance with the international rules and regulations, BID offers the wire transfer of International Funds.

Financial Advisory

BID offers its financial advisory required by the Clients to perform investments under the
best strategy.

Car Acquisition Credit

Wholesale Plan: The Bank establishes a limit of credit in order to be used completely or totally in acquisition of vehicles from plant and distributors. Credit allocated for the acquisition of new and used cars for legal entities.

Vision:

BID is driven to address growth strategies of key industries through financing projects, provision of funds, rendering of financial products and services to the clients, and thus contributing to the ever expanding dialogue between the Venezuelan and Iranian governments and enterprises in a comprehensive way, utilizing all expertise and tools available from both countries. BID supports small- and medium-sized enterprises in both countries as well as strengthening its financial intermediation capacities for big businesses through its credit and loan facilities. In addition to banking services to the public clients, BID strives to be the first banking choice for its clients who have engaged themselves in joint projects and trade developments and expect best quality financial products and services.

Swift/BIC: IDUNVECA

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