Sofitasa

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Banco Sofitasa, Universal C.A

Industry	Finance
Founded	(January 15, 1990)
Founder	Juan Antonio Galeazzi
Headquarters	San Cristobal, Venezuela
Key people	Angel Gonzalo Medina President and (CEO)
Products	Regional Universal Banking
Net income	US$ 28 Million (As the second semester of 2012)
Total assets	US$ 3.99 (As the second semester of 2012)
Number of employees	Approximately 2000
Website	www.sofitasa.com

Banco Sofitasa's headquarters is in San Cristobal, Venezuela. It belongs to the small/medium spectrum of the bank ranking in Venezuela, with a market share of 1%. It has over 100 branches in 18 states of Venezuela. The financial institution is a regional bank classified as Universal. This means that this financial institution can serve all types of financial services that a bank can provide in Venezuela according to the Venezuelan legislation: commercial, retail and investment banking. The bank is a member of the Banking Association of Venezuela.

History[]

Sofitasa was founded in San Cristobal, Tachira State on January 15, 1990 by Dr. Juan Galeazzi and a group of Businessmen. This Bank succeeded the previous limited company, SOFITASA, a small financial institution created in the 80s also by Dr. Galeazzi. The financial institution soon after became a solid bank in the Andean region of Tachira, Mérida and Barinas, where its niche market is located. The bank started to grow by opening additional branches in all the main cities of the country.

At the end of 2000 and beginning of 2001, Sofitasa Bank decided to expand its services by merging the commercial bank with its related divisions of leasing, real state, investments and infosystems to form a banco universal (universal bank). This would allow the bank to perform all financial activities that the Venezuelan regulation allows, so it could easily compete in all banking sectors like commercial banking, investment banking, lending, etc. The bank has continuously grow to strengthen its position in the country to become the first regional commercial bank that was approved to be transformed into a universal bank in the western side of the country. In November 2012, Dr. Juan Galeazzi, its founder and First President, died. Consequently, Dr. Angel Gonzalo Medina, its former Vice-President took the lead of the bank to become the current President.

References[]