Banco Bolivariano

What Banco Bolivariano does

Banco Bolivariano C.A. is an Ecuadorian universal bank founded in 1980, headquartered in Guayaquil with regional offices in Quito and Cuenca, operating across the full retail, SME, and corporate banking spectrum. Its technology stack is anchored by a digital banking platform distributed through the 24móvil mobile application (rated 4.9/5), the 24online web platform for retail and corporate clients, the SAT business banking portal, and the AVI24 WhatsApp-based banking assistant. Physical distribution comprises branches plus 3,000+ ATMs (own and BANRED network) and 5,000+ PuntoBB correspondent points including Farmacias Económicas and Medicity locations, supporting cash access in a market where physical infrastructure remains relevant. The product portfolio spans deposit accounts (Cuenta de Ahorros, Cuenta Corriente, Cuenta Más programmed savings up to 5% annual, Cuenta Kids, Cuenta Joven, certificates of deposit from $100), the seven-variant Credimax credit family covering personal, mortgage (7.50% rate, 20-year terms), auto, education, cash, home improvement, and green/eco loans, and a Credirol payroll-advance loan up to 4x monthly salary. Cards are issued under the proprietary Bankard brand across Visa, Mastercard, and UnionPay networks, complemented by Visa Débito and Paykard prepaid products. Value-added layers include NóminaPay payroll, Ecuagiros international remittances (with CaixaBank, MoneyGram, TransferGo corridors), WIP interbank instant transfers, BB Experience premium/Elite tiers, Fast Point rewards, and a Seguros y Asistencias insurance suite with Equisuiza and GEA. Revenue is generated primarily through interest income on the credit portfolio, deposit-taking spread, card fees (issuance, maintenance, interchange, cash advance), remittance commissions, and assorted service fees, with B2B2C acquisition driven by employer payroll partnerships and a direct-to-consumer motion combining digital onboarding and physical distribution.

Name

Banco Bolivariano

Legal name

Banco Bolivariano C.A.

Website

https://bolivariano.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Banco Bolivariano is a 45+ year-old Ecuadorian universal bank offering retail, SME, and corporate banking through a digital platform (24móvil, 24online, SAT, AVI24) supported by 3,000+ ATMs and 5,000+ PuntoBB agents, with products spanning deposits, Credimax loans, Bankard cards, remittances, and premium banking.

Ownership category

akta.pro rank

Headquarters

HQ city

Guayaquil

HQ country

Ecuador

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Credit Products: The bank generates primary revenue through interest charged on credit products including Credimax personal loans, Credimax Hipotecario mortgages, Credimax Vehículos auto loans, Credimax Educativo education loans, and Crediplus business loans. Interest rates vary by product with mortgage rates starting at 7.50% annual.
2. Deposit Taking and Interest Spread: Accepts customer deposits including savings accounts, current accounts, and certificates of deposit (CDPs) paying interest to depositors. Earns spread between lending rates and deposit rates.
3. Bankard Credit Card Fees: Revenue from credit card annual fees, interchange fees on transactions, cash advance fees, and foreign currency transaction fees. Plastic issuance fee of $4.37 + VAT, monthly insurance fee of $4.99 + VAT.
4. Remittance Commission Income: Earns fees on international remittance services through Ecuagiros platform, with partnerships with MoneyGram, TransferGo, and CaixaBank for cross-border money transfers.
5. Digital and Service Fees: Various service fees including account maintenance, transaction fees, international card usage charges, and insurance product premiums (Deuda Protegida, Cuenta Protegida, Pago Seguro).

Pricing tiers

Go-to-market motion2 records

Distribution channels10 records

Marketing channels8 records

Core offering

Banco Bolivariano is a full-service universal bank in Ecuador that provides retail banking products (savings, checking, youth, and digital accounts; time deposits; the Credimax consumer credit family; Bankard, Paykard and Visa Débito cards; insurance and assistance) and corporate banking services (Crediplus, Credirol, SAT treasury management) for individuals, businesses and institutions. Its offering is complemented by multi-channel digital banking (24online web, 24móvil app, 24fono phone, AVI24 WhatsApp), the country's largest ATM network (24efectivo, 3,000+ machines) and PuntoBB correspondent banking network (5,000+ points), plus remittance (Ecuagiros) and payroll (NóminaPay) services.

Product overview

Banco Bolivariano is a traditional universal bank in Ecuador offering a comprehensive financial services platform. The product portfolio spans multiple modules: (1) Core Digital Banking: 24online (web), 24móvil (mobile app), 24fono (phone), 24efectivo (ATM), PuntoBB (correspondent network), and Avi24 (WhatsApp chatbot) for account access and transactions; (2) Deposit Products: Cuenta de Ahorros (digital savings), Cuenta Corriente (checking), Cuenta Más (programmed savings with 5% interest), Cuenta Kids (children 0-12), and Cuenta Joven (youth 13-18); (3) Lending Products: Credimax family including Credimax Online ($1K-$70K consumer), Credimax Hipotecario (mortgage at 7.50%), Credimax Vehículos (auto), Credimax Educativo (up to $40K), Credimax Efectivo, Credimax Sueños (home improvement), and Credimax Verde (eco-friendly); (4) Cards: Bankard brand with Visa, Mastercard, and UnionPay variants across multiple tiers (Infinite, Signature, Platinum, Black, Oro, Clásica), plus Visa Débito and Paykard prepaid; (5) Business Banking: SAT platform for corporate payments, collections, factoring, and Crediplus business loans; (6) Value-Added Services: NóminaPay payroll, Ecuagiros remittances, WIP mobile transfers, BB Experience premium program, Seguros y Asistencias insurance suite, and Fast Point rewards. The architecture is hub-and-spoke: a unified digital core (24móvil/24online) distributes products across consumer, business, and premium segments.

Differentiator

Problem solved

Functional benefit

Brands

• Bankard: Credit card brand offering Visa, Mastercard, and Union Pay cards with various tiers including Black, Oro, Platinum, and Signature.
• Credimax
• NóminaPay
• Ecuagiros
• WIP
• 24móvil
• 24online
• BB Experience
• Fast Point

Products and services

• Cuenta de Ahorros

Quantifiable outcome

• Savings account can be opened 100% digitally in 5 minutes without initial deposit
• +3 more outcomes

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• CaixaBankcoreChannel Partner/ Reseller/ DistributorStrategic alliance for international remittances through CaixaBank Giros service, enabling Ecuadorian families in Spain to send money to Ecuador without commission fees. Banco Bolivariano guarantees immediate payment to recipient accounts or cash at branches and PuntoBB agents including weekends.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorInternational money transfer partnership enabling card-to-card remittances from USA to Ecuador bank accounts. MoneyGram app allows VISA card holders to send money directly to Banco Bolivariano accounts in real-time at no cost.
• TransferGominorChannel Partner/ Reseller/ DistributorRemittance partnership enabling money transfers from Spain to Ecuador. Users download TransferGo app, register with VISA card, and send to Banco Bolivariano accounts in real-time.
• EquisuizacoreStrategic or Co-development PartnerInsurance provider partnership offering Deuda Protegida (debt protection), Cuenta Protegida (account protection), Estudio Protegido (education protection), Pago Seguro (secure payment), and Giro Protegido (remittance protection) insurance products.
• GEAcoreStrategic or Co-development PartnerAssistance services provider partnership delivering medical assistance, dental assistance, and 24/7 support services to bank customers holding insurance and assistance products.
• VisacoreTechnology or IntegrationCard network partnership for Bankard Visa credit cards and Visa Debit cards offering global acceptance, payment protections, travel benefits, and Apple Pay/Google Pay integration.
• MastercardcoreTechnology or IntegrationCard network partnership for Bankard Mastercard credit cards offering global acceptance, Priceless Experiences, Airport Experiences lounges, travel protections, and Master Rental car insurance.
• Apple PaycoreTechnology or IntegrationMobile payment integration enabling Bankard and Visa Debit card holders to pay with iPhone and Apple Watch at contactless terminals.
• Google PaycoreTechnology or IntegrationMobile payment integration enabling Bankard and Visa Debit card holders to pay with Android devices at contactless terminals.

Scale indicators7 records

Recent moves3 records

Expansion highlights5 records

Direct peers

• Banco del Pacífico: Major Ecuadorian commercial bank with overlapping retail and corporate banking, digital platforms, and a national ATM and branch footprint comparable to Banco Bolivariano.
• Produbanco: Ecuadorian universal bank serving retail, SME, and corporate clients with comparable deposit, lending, and digital banking products, directly competing in Banco Bolivariano's segments.
• Banco de Guayaquil: Long-established Guayaquil-headquartered Ecuadorian bank with similar retail and SME focus, multi-channel distribution (branches, ATMs, digital), and credit card offerings.
• Banco Solidario: Ecuadorian microfinance and SME-focused bank offering savings products, microcredit, and digital channels that partially overlap with Banco Bolivariano's retail and small-business lending segments.
• Banco Pichincha: Ecuador's largest private bank and most direct competitor, offering a comparable full suite of retail, commercial, and remittance products across physical branches and digital channels in Ecuador.
• Banco Internacional: Ecuadorian commercial bank with a comparable mass-market retail proposition, including savings accounts, personal loans, mortgages, and digital banking services.

Broad incumbents

• BCP (Banco de Crédito del Perú): Peru's largest bank, operating a similar mass-market retail, business banking, and remittance franchise across Latin America with strong digital and physical infrastructure.
• Scotiabank Ecuador: Subsidiary of a global bank operating broadly in Ecuador with retail, commercial, and wealth services — overlapping with Banco Bolivariano but as part of a much larger international portfolio.

Regional players

• Banco General (Panama): Leading Central American universal bank with similar hybrid physical+digital model, multi-card-network credit cards, and remittance services — relevant comparable for the Ecuadorian retail-banking playbook.
• Banco Agricola (El Salvador): Salvadoran universal bank with comparable retail deposits, credit cards, payroll, and remittance services — useful regional benchmark for mid-sized traditional banks in Latin America.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/BcoBolivariano
• Facebookfacebook.com/BancoBolivariano

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banco Bolivariano