đ Bank profits in Venezuela: record figures crossing into the crypto ecosystem
By the end of July, Venezuelaâs financial system reported an accumulated net profit of 710.417 million bolĂvares, equivalent to 1.437 million dollars, according to the firm AristimuĂąo Herrera & Asociados. This represents a year-over-year jump of 800.1% in local currency and 55.9% in foreign exchange, a sign that traditional banking is sailing through waters of high profitability.
For those who operate in the P2P market and the cryptocurrency ecosystem in Venezuela, these figures are not only a financial data point: theyâre a barometer of liquidity in bolĂvares, competition for the dollar, and demand for digital assets like USDT.
đ Why are bank profits growing so much?
The 800% increase in bolĂvares largely reflects the inflationary effect and credit expansion in an environment where the bolĂvar remains the unit of account, but loses purchasing power. However, when measured in dollars, the rise is more modest: 55.9% year-on-year, which indicates a real improvement in banking activity, though de facto dollarization of the economy also plays a role.
The five banks with the highest profits account for 89.8% of the systemâs net gain. Banco de Venezuela (BDV) leads with $630 million, followed by Banesco ($221.6 million), BBVA Provincial ($193.2 million), Mercantil ($130.7 million), and BNC ($110.3 million).
đ What does this mean for the P2P market and USDT users?
In PitbullChain, we see a direct correlation between bank profitability and the behavior of Venezuelaâs crypto market:
⢠More liquidity in bolĂvares: The highest bank profits usually come from a wider intermediation margin, meaning they lend more and collect deposits at low rates. That implies more bolĂvares circulating in the economy, which can put pressure on the demand for safe-haven assets like USDT to protect value.
⢠Competition for the dollar: Banks earn in dollars, but demand for green cash remains high. P2P with USDT has become a way to dollarize without relying on the traditional banking system, so a stronger banking sector may try to capture that demand with products in foreign currency.
⢠Inflation and exchange rate: The 800% growth in bolĂvares versus 55.9% in dollars shows the inflation gap. This gap is a breeding ground for people to look for alternatives like cryptocurrenciesâespecially USDT, which in Venezuela is actively traded in P2P.
đ° Cases that set the pace
Mercantil Banco stands out with net profit growth of 1,327% in bolĂvares and 156.9% in dollars, the biggest increase in the Top 10. This suggests an aggressive intermediation strategy that could compete with fintechs and crypto exchanges.
Banco del Tesoro and BDT also grow above the average, indicating that public banking and workersâ banks are playing a more active role. However, none of these players yet offers custody solutions or direct purchases of cryptoassets, leaving room for the P2P ecosystem to keep growing.
đĄď¸ Dollarization, banking, and crypto: a triangle under strain
Venezuelaâs economy continues moving toward partial dollarization, and banks are capturing part of that profitability. But crypto users arenât only looking for returns: they want financial freedom, lower transfer costs, and protection against possible capital controls.
While traditional banks report record profits, itâs likely weâll see parallel growth in the P2P market, because Venezuelans use USDT for daily transactions, remittances, and saving in digital dollars. The key is that P2P platforms keep offering competitive fees and liquidity in bolĂvares, leveraging the higher level of banking activity to facilitate fund flows.
đ Read the full article: https://pitbullchain.com/noticias/banca-venezolana-gana-800-mas-impacta-en-el-p2p-y-el-usdt-229995
https://public.bnbstatic.com/image/pgc/20260922/8c160207f9af4203a9331d774908f741.jpg
đ Live rates and analysis on https://pitbullchain.com
$USDT #bancavenezolana #USDT #P2P #utilidadneta #dolar