The signing of the constitutive act was carried out on January 8, 1957, to begin its commercial operations on July 26, 1957 with an office located on Calle Comercio in the center of Maracaibo, and a capital of 20 million bolívares distributed in 40 thousand registered shares.10 Its first board of directors was then formed by Francisco Morillo Romero, as president; and José Rafael Domínguez, Jorge Maisto, Francisco Martínez La Riva, John Shortt, Rafael Urdaneta, J.J. González Gorrondona and Angel Cervini.

On Thursday, September 5, the Central Bank of Curaçao suspended the regular services of Banco del Orinoco N.V., of which Luis Alfonso de Borbón,14 son-in-law of Vargas, is Alternate Director, and appointed an administrator in order to evaluate the assets and liabilities existing in the institution.

41,714-, dictating administrative measures to protect and secure the funds of the users of the Banco Occidental de Discount banking entity.

16 According to the resolution, the administrative measures applied have a term of 120 bank business days and, among them, the prohibitions to make new investments and to decree payment of dividends are detailed.

As of June 27, during banking hours, they will be attended at the BNC Agency network nationwide, by executives and employees willing to resolve requests and answer questions from the beginning of the transition period.

1957-1964 Francisco Morillo Romero 1964-1994 Alfredo Belloso 1994-1998 Jose Manuel Egui Medina 1998-2022 Victor Vargas Irausquin The Cultural Center B.O.D.

In 2007, the bank's vice president, Tomás Casado, was arrested for being involved in the scam known as "La Vuelta", in which many families from Zulia lost their savings.

[8] In the aforementioned resolution, the Superintendence of Institutions of the Banking Sector (SUDEBAN) clarifies exhaustively that the agreement for the transfer of assets and liabilities within the national territory between the Banco Nacional de Crédito BNC and the BOD does not imply a merger by absorption or the integration of both banking entities, so that in no case will the legal personalities of each commercial company be confused.

This provision clarifies the situation of the BOD's liabilities with clients of intervened subsidiaries and in liquidation that it has abroad, so that the BNC has no responsibility for the cancellation of such credits, in accordance with the resolution issued by SUDEBAN.

Consequently, the asset and liability transfer agreement was approved as an alternative route of the Recovery Plan, considering it viable by virtue of being an efficient procedure whose objective is to avoid the impact determined by the insufficient coverage of public deposits, given that According to the figures of the financial statements of the Banco Occidental de Descuento, Banco Universal C.A., they do not show the necessary disposition of the assets to offset the liability balances.