Venezuelan bank profits continued to soar in January, boosted by consumer loans

Venezuelan bank profits continued to soar in January, boosted by consumer loans. Bank profits jumped 70% in January from the same month a year ago, according to a report from Softline Consultores CA, a financial sector consulting firm. Profits reached 518 million bolivars ($241 million) from VEB213 million a year earlier. In the last 12 months, the joint credit portfolio increased 66%, with outstanding loans at the end of Jauuary at VEB103 billion.