Banco de Venezuela (abbreviated: BDV) is an international universal bank based in Caracas. It was the market leader in Venezuela until 2007, when it fell to third place, with an 11.3% market share for deposits; its major competitors are Banesco, Banco Mercantil and BBVA Banco Provincial.The bank was founded in 1883 as Banco Comercial, which on 2 September 1890 changed its name to Banco de Venezuela. It was initially a loan and taxation financial institution for the Venezuelan government.