Branching out.Banco Provincial CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. : Juan Carlos Juan Car·los Born 1938. King of Spain (since 1975) who acceded to the throne on the death of Francisco Franco and helped restore parliamentary democracy. Noun 1. Zorrilla Market Value: $659 million Growth since 1993: 87% Being number one in Venezuela didn't mean much after the banks started to collapse in 1994--half the system either went into government hands or receiver-ship--but Banco Provincial held itself together and, like Chilean pension fund Provida, found a savior in Spain's Grupo Banco Bilbao Vizcaya (BBV BBV Banco Bilbao-Vizcaya BBV Black Box Voting (unsecure voting machines) BBV Blood-borne Virus BBV Blockbuster Video (store) BBV Beroepsorganisatie Banken Verzekeringen (Dutch) ), which took a 40% stake in 1997. Under the leadership of Juan Carlos Zorrilla, the bank's emphasis has been to improve services and put a bank branch in "every corner of the country." Grupo BBV is committed to making Banco Provincial stronger, boosting ownership to more than 50% at the end of 1998. Matching past profits, let alone trying to surpass them, is a huge challenge for Zorrilla. He will be dependent on newly elected President Hugo Chavez turning the Venezuelan economy around. But enthusiasm for such a turnaround is not overwhelming. Even Grupo BBV is pessimistic pes·si·mism n. 1. A tendency to stress the negative or unfavorable or to take the gloomiest possible view: "We have seen too much defeatism, too much pessimism, too much of a negative approach" . "There is little indication of any respite RESPITE, contracts, civil law. An act by which a debtor who is unable to satisfy his debts at the moment, transacts (i. e. compromises) with his creditors, and obtains from them time or delay for the payment of the sums which he owes to them. Louis. Code, 3051. in the slump in [economic] activity that began in late 1998," says the latest issue of Latin Watch, a monthly Grupo BBV newsletter. |
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