Accumulated net profit of the banking sector was immune to the exchange rate adjustment with an increase in dollars of 268%

The five banks that led the ranking of accumulated net profit at the end of July concentrated 90.5% of the net profit generated in the system. The accumulated net profit up to July for the Venezuelan banking sector was 78,922.29 million bolivars, an amount equivalent to 959.53 million dollars, with year-on-year growth of 733.1% in local currency and 268% in real terms, data that reinforces the upward trend of the system's profitability so far this year.

This result indicates that banking profits have comfortably exceeded the progressive exchange rate adjustment being carried out by the monetary authority.