Opening words of JCE to the Emeterio Gómez Conference

by Juan Carlos Escotet Rodríguez on Jan. 6, 2012, under Banesco Banco Universal, Banesco USA, Corporate Social Responsibility, Juan Carlos Escotet Rodríguez
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How is it possible many of you will wonder, that in the area of a company, in the current state of the world and the country, a thinker, a leading figure in philosophy, economics, education, journalism and debate of ideas, an intellectual like Emeterio Gómez finds audience to share a reflection which, among other things, delves into the land of the sacred and the ethical to wonder about the role that these two dimensions have in our time?

It corresponds to me this afternoon the honorable task of welcoming Emeterio Gómez and every one of you, gentle and eager citizens, dissatisfied people and willing to question yourselves about the times we live in, and who understand that the question of responsibility, not only remains valid as many ventured a couple of decades, but its sound is every day more powerful, more intense.

The unrest that marks the development of the world in recent decades does not occur in vain. Is expressed not only in ways that tear and blur the coexistence, in that kind of a big cloud that we experience every time we raise our face towards the horizon. Nobody sensible lives outside the perimeter of planetary distress, no one who is planted in the reality remains outside the boundaries of humanity suffering experience.

But that unrest, and these are still the news of civilization, is also expressed in the gaze, the interest that returns lively, in the intense vocation that wake up a number of issues in many people, all intertwined and vital and that refer to the human sense and the way they are constituted as an act or statement of responsibility to others.

Perhaps it could not be otherwise, but it is happening just at the time when crass individualism and stubborn selfishness are rampant shows its hardened face, coincides with the time in which, as endowed with a new energy, questions of duty reappear, the disturbing and inalienable questions of responsibility in all areas where this is possible.

There is no person, whatever their profession and way of life, community; regardless of affiliation or world view, group; beyond the purpose that justifies it, company; whatever productive purpose, institution; no matter what is the presumption that saved it from itself, i.e. no assumption, artistic work or human action that is not, today, questioned by the discussion of responsibility.

Nothing in the human, not even the fruit of honest labor and done with honor, is out of the ethical dimension. There is no procedure, mechanism or bureaucratic chain of production, process of knowledge transfer or any property that is not on the critical question of responsibility to others and the world we share.

If thinking of ethics, getting into the links it has with the holy and also the worldly, it may be risky but also deeply satisfying to talk about ethics, to proclaim responsibility, it may be, at least, engaging, challenging and often trigger the irritation of our fellows.

It is possible that many of us have the perception that ethics is a matter for specialists, philosophers and theologians, rabbis, university professors, disciplined readers and exegetes of the sacred books. It is true that these beings are more concerned with the job of thinking and promoting the good for humanity.

But that does not absolve us, does not condone the duty we owe to ourselves, to those around us and in a larger sense, to the community of which we are part.

I would dare to say that our lives are full of little and not so small behaviors that attest our solidarity and commitment to others. I am sure we all have opportunity to contribute more to the living and the welfare of others.  It would be enough if we did not fear doubt; it would be enough if we put our most severe beliefs in the light of some questions, so that our souls are better prepared to the question of responsibility, that is, the question of humanity par excellence.

And here I return, and finally, to the reason that brings us here today, the baptism of the book Rationality and Religiousness of our friend Emeterio Gómez, who also treats us to a conference that will give us a first approach to this work.

We too are, as responsible citizens, as subjects of responsibility, both at the personal and the institutional level,  actors aware of the visions at stake. We are not and cannot remain oblivious or indifferent to all that it entails. I feel interrogated every day.

I have the privilege, because that is a great privilege, to live close to many people who often wonder if they’re doing the right thing. In this house, we have learned, we believe, to incorporate the questions of others to our practices and objectives. Therefore, we are very interested to hear a citizen who has made ​​these issues in their current predicament and necessary.

Respectable Emeterio Gómez, welcome to this house. Welcome as well, all those who accepted the invitation to spend some time with issues essential to our lives.

Let’s all welcome Emeterio Gómez. Thank you very much.

Opening words of Juan Carlos Escotet Rodríguez to the Emeterio Gómez Conference

by Juan Carlos Escotet Rodríguez on Nov. 11, 2011, under Banesco Banco Universal, Corporate Social Responsibility, Juan Carlos Escotet Rodríguez, Speeches
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How is it possible many of you will wonder, that in the area of a company, in the current state of the world and the country, a thinker, a leading figure in philosophy, economics, education, journalism and debate of ideas, an intellectual like Emeterio Gómez finds audience to share a reflection which, among other things, delves into the land of the sacred and the ethical to wonder about the role that these two dimensions have in our time?

It corresponds to me this afternoon the honorable task of welcoming Emeterio Gómez and every one of you, gentle and eager citizens, dissatisfied people and willing to question yourselves about the times we live in, and who understand that the question of responsibility, not only remains valid as many ventured a couple of decades, but its sound is every day more powerful, more intense.

The unrest that marks the development of the world in recent decades does not occur in vain. Is expressed not only in ways that tear and blur the coexistence, in that kind of a big cloud that we experience every time we raise our face towards the horizon. Nobody sensible lives outside the perimeter of planetary distress, no one who is planted in the reality remains outside the boundaries of humanity suffering experience.

But that unrest, and these are still the news of civilization, is also expressed in the gaze, the interest that returns lively, in the intense vocation that wake up a number of issues in many people, all intertwined and vital and that refer to the human sense and the way they are constituted as an act or statement of responsibility to others.

Perhaps it could not be otherwise, but it is happening just at the time when crass individualism and stubborn selfishness are rampant shows its hardened face, coincides with the time in which, as endowed with a new energy, questions of duty reappear, the disturbing and inalienable questions of responsibility in all areas where this is possible.

There is no person, whatever their profession and way of life, community; regardless of affiliation or world view, group; beyond the purpose that justifies it, company; whatever productive purpose, institution; no matter what is the presumption that saved it from itself, i.e. no assumption, artistic work or human action that is not, today, questioned by the discussion of responsibility.

Nothing in the human, not even the fruit of honest labor and done with honor, is out of the ethical dimension. There is no procedure, mechanism or bureaucratic chain of production, process of knowledge transfer or any property that is not on the critical question of responsibility to others and the world we share.

If thinking of ethics, getting into the links it has with the holy and also the worldly, it may be risky but also deeply satisfying to talk about ethics, to proclaim responsibility, it may be, at least, engaging, challenging and often trigger the irritation of our fellows.

It is possible that many of us have the perception that ethics is a matter for specialists, philosophers and theologians, rabbis, university professors, disciplined readers and exegetes of the sacred books. It is true that these beings are more concerned with the job of thinking and promoting the good for humanity.

But that does not absolve us, does not condone the duty we owe to ourselves, to those around us and in a larger sense, to the community of which we are part.

I would dare to say that our lives are full of little and not so small behaviors that attest our solidarity and commitment to others. I am sure we all have opportunity to contribute more to the living and the welfare of others.  It would be enough if we did not fear doubt; it would be enough if we put our most severe beliefs in the light of some questions, so that our souls are better prepared to the question of responsibility, that is, the question of humanity par excellence.

And here I return, and finally, to the reason that brings us here today, the baptism of the book Rationality and Religiousness of our friend Emeterio Gómez, who also treats us to a conference that will give us a first approach to this work.

We too are, as responsible citizens, as subjects of responsibility, both at the personal and the institutional level,  actors aware of the visions at stake. We are not and cannot remain oblivious or indifferent to all that it entails. I feel interrogated every day.

I have the privilege, because that is a great privilege, to live close to many people who often wonder if they’re doing the right thing. In this house, we have learned, we believe, to incorporate the questions of others to our practices and objectives. Therefore, we are very interested to hear a citizen who has made ​​these issues in their current predicament and necessary.

Respectable Emeterio Gómez, welcome to this house. Welcome as well, all those who accepted the invitation to spend some time with issues essential to our lives.

Let’s all welcome Emeterio Gómez. Thank you very much.

Banesco Banco Universal issued preferred shares in the stock market

by Juan Carlos Escotet Rodríguez on Oct. 22, 2011, under Banesco Banco Universal, Juan Carlos Escotet Rodríguez, Preferred shares
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Banesco Banco Universal issues between 24 March and 10 April, 1.250.000.000 new preferred shares in order to strengthen its equity base through the addition of new partners, giving priority to small investors who have at their disposal an investment. During the first year, Banesco offers buyers a fixed dividend of 19.5%.

To be a shareholder of Banesco, the applicant must call a 0500-ACCION-1 (0500-2224661), enter www.banesco.com or contact any of the 442 agencies of this financial institution located throughout the country. The share value is Bs.F. 0.10 and the minimum investment amount is Bs.F. 100, redeemable after three years. The shares can be paid by direct debit from the customer’s account in Banesco or check.

The preferred shares are equity instruments of Banesco, a financial institution with a strong track record of profitability, growth and innovation. Such shares are investment instruments with a variable output from the second year attached to the lending rate of the market, which makes them attractive.

In the allocation of shares to small investors will be prioritized with amounts between Bs.F. 100 and Bs.F. 2000, increasing allocations progressively to higher orders to Bs.F. 100,100.

Banesco will hold road shows in Caracas (Ciudad Banesco, Bello Monte, at 5:30 pm), Valencia (Hotel Inter-Continental at 5:00 pm) and Maracaibo (Club Nautico at 5:00 pm), on 25 March, April 2 and April 3 respectively.

An attractive instrument

The preferred shares are equity securities that represent the following rights to their owners:

  • Preferred Economic Rights: Preferred shareholders are entitled to a cumulative and preferential dividend
  • Rescue Rights: preferred shareholders have the option of selling the issuer and the issuer the option to buy them from the investor from the third year
  • Restricted Political Rights: preferred shareholders exercise limited voting rights on the company

The preferred shares are entitled to a periodical cumulative preferential dividend

  • Preferred Character: The dividend will be paid to preferred shareholders with priority over dividends that may correspond to common shareholders
  • Cumulative nature: If at some time had not sufficient income or dividend for the income guidelines, the difference will be accumulated (not capitalized) and paid in the next fiscal year

The preferred shares incorporate the following options for their rescue, which can be performed quarterly after the 12th quarter (3rd year).

  • Sale option (investor): The investor may sell all or part of its shares to the issuer at face value of the number of shares to rescue plus dividends caused corresponding to that number.
  • Purchase option (issuer): The issuer may buy all or part of the shares issued to pay the face value of the number of shares plus dividends to rescue caused of the number of shares corresponding to the percentage to be rescued

The preferred shares are entitled to vote for:

  • Approve or disapprove the bank’s financial statements
  • Approve or disapprove bylaw amendments where their rights are modified
  • Election of Commissioners and their alternates

Why invest in Banesco?

  • The first bank in the country and has been a leader in the development of the Venezuelan financial sector.
  • The institution has experienced continuous growth since its foundation (1986).
  • The bank has grown on financial innovation and optimism about the prospects for development.

Accumulated results in the second half of 2007 confirm the leadership of the institution in the national financial system:

Total Assets: Bs.F. 27,700 million
Total Loans: Bs.F. 16.207 million
Total Public Deposits: Bs.F. 24.297 million
Total Equity: Bs.F. 2,150 million
Total Managed Resources: Bs F. 28.643 million

To date, the entity has more than 12,000 employees, more than 4 million customers, more than 4 million plastics (1 in 4 of the country), 442 agencies (the largest national network), 44,113 ATMs and 1174 points of sales (1 of 3 transactions).

Banesco USA opens in Puerto Rico

by Juan Carlos Escotet Rodríguez on Oct. 15, 2011, under Banesco USA, Juan Carlos Escotet Rodríguez, Puerto Rico
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The newly opened entity is part of the multinational corporation Banesco, that has presence in Venezuela, Panama, Dominican Republic, USA (Florida) and Puerto Rico, independently and under de legislation and laws from each country.
Banesco USA, financial organization that operates in the state of Florida (USA), opened yesterday their first office in San Juan, Puerto Rico. The announcement was made by the Bank’s Chairman, Juan Carlos Escotet Rodríguez, in company of Luis G. Fortuño, Governor or the Commonwealth of Puerto Rico, and Rafael Saldaña, CEO of Banesco USA, in the executive mansion “La Fortaleza”.

Escotet Rodríguez, member of the Banesco USA Board, pointed out that since 2010 the financial entity has made investments for US$ 16 million directly into the operational growth of Florida, and the opening of the Puerto Rico branch.

“We truly appreciate the fact that Puerto Rico is the smallest in the “Greater Antilles”, but the biggest in opportunities: the clear sight, the political stability, the availability of incentives and the enormous value of the people, puts the country in a competitive position”, said Escotet Rodriguez.

He also said that in Puerto Rican soil, just like in Florida, Banesco USA will maintain the credit support to the small and medium industry, an abandoned market by the majority of the biggest financial institutions because of the complexity of the lending service.

In Puerto Rico there are more than 208.000 registered small and medium companies, by numbers of the Department of Work and Human Resources of the Island. This industry generates 837.000 jobs and 156 million USD a year.

Exponential Growth
Banesco USA it’s a financial institution created as an independent universal bank in the state of Florida, USA, explained Saldaña, who operates under de requirements and federal and state laws of the United States of America. The clients enjoy all the benefits an American Bank can offer as well as the privacy, protected by the legal and constitutional system of the country. It also haves the maximum security insurance of the Federal Deposit Insurance Corporation (FDCI) of USA.
In the first cut of the first semester of 2011, Banesco USA obtained deposits for 370.95 million USD (an 61% increment over 2010) and registered a credit wallet for 31.41 million USD (31% over 2010). Also reported assets for 429 million USD

Banesco USA belongs to the multinational and multiregional Banesco, who also has presence in Venezuela, Panamá, and Dominican Republic. Each and every one of these entities operates in as an independent way and under the legislation of every one of the countries above mentioned. Combined they carry a patrimony of 1.400 million USD and assets for 14.000 million USD.

Rafael Saldaña, CEO, remembered that the name of the bank –known as BBU Bank- was recently changed by authorization of the Office of Financial Regulation (OFR) of Florida and the Department of State of Florida.

Saldaña said that Banesco USA is one of the best capitalized, healthy banks with the biggest growth rate in the state of Florida. He also added the quality of the Puerto Rican team, commanded by their Business Manager, Carlos Rivera, guaranteed the local market understanding. This, in alliance with the corporate culture of the Banesco Group, will bring innovative elements with new products and services for every one of the market segments.

Juan Carlos Escotet Rodríguez speech at the opening of Point of Service at Televen

by Juan Carlos Escotet Rodríguez on Oct. 7, 2011, under Banesco Banco Universal, Juan Carlos Escotet Rodríguez, Speeches
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Wednesday December 11,  2007.

Good afternoon,

Today we are gathered around an occasion that has not one but many meanings: the opening of a new Banesco’s point of service in the metropolitan area of ​​Caracas. As people who work in organizations, I am sure we all understand the satisfaction that this new step produces. For us it is like having a new program put to air, like having achieved a new project which crystallized successfully.

But, and this is really something I want to communicate clearly, over the years, associated with this, are a series of emotional factors and shared experiences, which for me are vital and I cannot forget to mention: I am referring to the strong, old and formidable ties that bind me to Televen and two generations of the Camero family.

And because of those ties, which are so strong in my heart, I beg you not to see me as a visitor, but as someone who is part of this house. Moreover, I must confess here that I feel like I’m in a place that, somehow, is part of my learning, my more meaningful personal and professional experiences.

Next to Don Omar, my dear Don Omar Camero, there is much that I have known, learned and meditated. Knowing him, talking to him, asking and listening, suggesting and receiving the echo of his thoughts has been for me an immense source of knowledge, but also a way to always be close, because what you may not know, Don Omar, and that maybe I haven’t explained as clearly as in this ceremony, is that I am, and I’m sure not the only one, of those who always carry the flavor, measurement and deep reference setting of your words.

It happens, and it is possible that to each of you too, that, when thinking in solving complex problems, making decisions that will have far reaching impacts, resolving issues that arise suddenly, one, consciously or not, always thinks of two or three people whose example considers relevant, and silently wonders what I would say, think, how would you or someone else in my admiration and trust, do this?

Well I, before all these witnesses, want to let you know Don Omar Camero, that you’re one of those people whom I think when reality becomes more demanding.

And because all that, I feel bound to the fate of this company, as I am closely related to each of their children who are like brothers to me, and that is why I cannot divest myself of the success that Televén has now and will have in the coming years.

I think Banesco and Televen are united in the dedication and commitment to our work. Our ability to learn, to listen to our country, our market and engage with the reality that surrounds us every minute. We share a deep and renewed sense of coexistence in diversity, and this, Don Omar, and friends who accompany us, is invaluable.

We have grown with Televen: we have a tie to a time, sharing a beating story, moments of difficulty and growth, makes us like a will to fight that has not ceased for one minute over our lives. And fundamentally, we are proud to have had and continue exhibiting with our key customers to this house, which is an example of a family business that has managed to meet the challenges of the new management and competition in times that demand the best from each one of us .

We came here with the best of our Organization. We opened here a new point of service in addition to the more than 420 that have been made available to our customers across the country. We have always been known for innovation and the quality of service, under standards that have been recognized inside and outside Venezuela. Is that the level of quality that we have to offer at any time, in order to respond to the initiatives, projects and dreams of progress, of this company, every one of you and your families.

As I have said in other parts, Banesco, apart from a bank is an organization of values. Because there are so many ties that honor us our obligation to give the best to you increases. We are grateful that you have opened the doors and have given us the confidence to give us a place among you.

Over the years, Televén has managed from the private sector, to create a space for dialogue that promotes coexistence between the new values ​​of society and productive actors. We are determined to become exponents of best practices and highest standards of Corporate Social Responsibility.

But not only that. We also want to be an organization of alliances. Respectful relationships. Of outstretched hands. Ongoing attention.

We want to be people who listen, who support, celebrate, promote and give their best. We are like you. So we are happy to be here and inside. To make good the desire to work every day together and go further for the sake of Venezuela.

Many Thanks

Banesco’s social investment reached a total of Bs. 20,33 billion

by Juan Carlos Escotet Rodríguez on Oct. 1, 2011, under Banesco Banco Universal, Juan Carlos Escotet Rodríguez
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Of the total, 4.57 billion Bs correspond to non-contractual benefits offered to employees of the Organization. For different projects together with the Social Partners for the benefit of the community spent 15.75 billion Bs

Caracas.- Banesco Banco Universal, institution of 100% Venezuelan capital, reported a social investment of 20.33 billion bolivars in 2006. The figure includes programs developed internally that benefited workers in the organization and externally materialized projects with the Social Partners.

From 1998 to date, Banesco has executed a social investment (domestic and foreign) which amounts to 64.57 billion Bs Bs. Of this amount, in 2006 alone contributed 20.33 billion Bs, of which 4.57 billion Bs was spent on workers from the financial institution and the difference, Bs 15.75 billion, on the community.

Internationally, Banesco has decided to promote the education and health of increasingly more Venezuelans through its Corporate Social Responsibility program. In line with this strategy, 2006 highlighted the boost given to projects submitted by Fe y Alegría, the Venezuelan Association of Catholic Education, the State Foundation for the National System of Youth and Children Orchestras of Venezuela (Fesnojiv) and universities.
In this regard, it is highlighted that 15.75 billion for external social investment, 52.06% (Bs 8.2 billion) has been disbursed in projects related to education.

 

Institution / Agency Amount Bs.
AVEC 2,87 billion
Fe y Alegría 2,26 billion
Fesnojiv 2,04 billion
Universities 917,26 million
Museo de los Niños 75 million
Banesco’s lifetime scholarships 49,32 million
Editorial projects 41,04 million

 

The main initiatives to which it contributed during 2006 were:

 

Fe y Alegría

In August 2002, and Fe y Alegría Banesco signed an agreement which established a trust for 10 billion bolivars, which were delivered over five years to Fe y Alegría in order to expand and equip the Instituto Universitario Jesús Obrero of Catia and build the Instituto Universitario San Francisco of Maracaibo and the Instituto Universitario Jesus Obrero of Barquisimeto. Today the three higher education institutions are fully operational thus expanded the possibilities of study for more than 4,500 young Venezuelans.

Specifically in 2006, Bs 2.26 billion were dedicated to them. In July 2007, all of the resources provided under the existing agreement were delivered and, additionally, Banesco agreed to allocate other Bs 12.5 billion over a period of five years from August this year.

 

Fesnojiv

With the State Foundation for the National System of Youth and Children’s Orchestras of Venezuela also fulfilled the commitment to total delivery in 2006 of Bs 3 billion for the construction and equipping of the Center for Social Action through Music. Last year they contributed 2.04 billion Bs.

 

AVEC

During 2006, we sponsored various projects submitted by 36 schools belonging to the Venezuelan Association of Catholic Education, related primarily to the rehabilitation of its infrastructure, which involved an investment of Bs 2.87 billion. Also, the total amount allocated to the AVEC 571.9 million benefited the Canaima school, located in La Vega, a member of this association, whose board works in the construction of facilities to provide secondary education to teenagers of the parish.

 

Museo de los Niños

With the Museo de los Niños there is a long-standing relationship. In 2006, Bs 75 million were allocated to cover the operational needs of this cultural and educational center as well as the exhibition “The Thrill of Living Without Drugs”, an experience that children from the Banesco workers and a group of children from Fe y Alegría schools also enjoyed.

 

 

Universities

During 2006 we kept the support for the Universidad Central de Venezuela, Católica Andrés Bello, Simón Bolívar, Zulia, the Andes and Oriente. It include the following initiatives:

  • Completion of work on the Paseo de los Ilustres Sucrenses (UDO)
  • Construction of the auditorium and publication of the book Historical Vision of LUZ (LUZ)
  • Construction of the Library (UCAB-Guayana)

The budget for these institutions of higher education was 917.26 million Bs.

 

Box 1:

For its workers

Internally, we also performed various activities and programs to benefit workers in the organization that already reach 10,000 people around the country. In 2006 we volunteered and met a number of non-contractual benefits for workers totaled 4.57 billion Bs.

In addition, 20.18 million Bs were disbursed to strengthen the activities of the Banesco Corporate Volunteer, specifically in the area of ​​training and education.

Banesco gave Bs. 226,44 millones to the Asociación Damas Salesianas

by Juan Carlos Escotet Rodríguez on Sep. 23, 2011, under Uncategorized
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Resources will go the consolidation of the Training Program for Labor and will benefit over 200 young people studying in the Centro Don Bosco 88 in Caracas

Caracas.- Banesco Banco Universal renewed its support to the Asociación Damas Salesianas by delivering Bs 226.44 million for the consolidation of the Training for Work which will benefit over 200 young people of low-income from the capital region studying in the Centro Don Bosco 88.
Patricia Muchacho de Villasmil, president of the Asociación Damas Salesianas, said the funds will be used specifically for the provision of equipment, improved infrastructure and facilities, and the payment of facilitators of the Don Bosco Center 88. The intention is to serve 200 young people to train in the program of Accounting Analyst and Company Administrative Assistant.
The Centro Don Bosco 88 is managed by the Asociación de Damas Salesianas, a non-profit and social development organization, which leads activities and proposals to strengthen low-income groups and communities located in popular areas of the country. The association is one of the main social partners of Banesco.
Currently, at the aforementioned location two training programs are held: the National Learning and Secretarial Training Program. Both are supervised by the National Institute for Educational Cooperation (INCE). Villasmil explained that the intention is to train and educate young people so that they can be inserted into the labor market, reinforcing their identity as a productive and necessary factor for the country.
In 2006 Banesco gave the Asociación de Damas Salesianas 164.18 million Bolivars, while in 2005 the amount increased to 133.56 million Bolivars.

Juan Carlos Escotet Rodríguez gives a speech at Panama’s opening ceremony

by Juan Carlos Escotet Rodríguez on Sep. 13, 2011, under Banesco Banco Universal, Juan Carlos Escotet Rodríguez, Panama, Speeches
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The first thing I propose to offer to you all, is nothing more than a word whose value does not decline ever: Respect. Let me extend to each of you, your history and culture, and all the feelings and meanings that make up this beautiful land, the word respect by a citizen coming from another country, whose first conviction is unending respect and consideration to the other, that is to say, for every one of you and all those attributes which constitute the Panamanian nation.
I was born, grew, trained and became a businessman in Venezuela, in an environment of opportunities and challenges, as the millions of men and women entrepreneurs who live and work in Latin America know well, it requires the development of a profound and renewed sense of coexistence in diversity.
I come from a country that has a long tradition of hospitality, which has been consistent throughout the twentieth century. In many parts of Europe and Latin America at different times in Venezuelan history, immigrants have come for different reasons and with many hopes, to live with us. Being an open country, always with arms outstretched toward others, we got a knowledge that a lot of us carry deep within ourselves the best of the rest is all what they can teach us, that diversity of cultures and experiences of which both can enrich every day.
We came to Panama for many reasons, but never forgetting that, both the institutional and the strictly individual scope, we are never separated from the premise of learning and becoming better and better, because only in the constant exchange with others is that the human being holds the power to be perfect and transcendent, remembered for his good works.
You may have noticed that I take leave to speak in first person plural. If I can make use of such attribution is because I know Banesco, step by step, even in its smallest details, since it was just an idea until today. This authorizes me to say that in Venezuela we have an organization that, from the beginning, was forged under a strong corporate culture founded on strong values, and everything we have achieved is not simply the result of implementing our convictions.
Banesco was introduced fifteen years ago in Venezuela in 1992. Before opening our doors we had already defined how we would do our route.
We defined a platform for action based on innovation at various levels of financial business in the modern and ever-renewed use of new technologies and the development of a policy of treating the customer beyond the best practices that existed then in the Venezuelan banking.
Our growth was strong from day one. In a country like Venezuela where there are many large banks, Banesco began to move from day one, additionally supported by a solid device of strengthening and caring for its brand. Almost a decade later, I speak of 2001, we merged with two very large and relevant financial institutions of the Venezuelan financial system: on the one hand, Banco Union, which by then accumulated a successful tradition of XX years and that was one of the great emblems of our country’s financial history, and the other with the Caja Familia organization, which was what we call a Savings and Loan Institution and that had a strong presence in various regions of Venezuela.
This process of merging two organizations retested and developed our willingness to adapt to the demands of a reality different from our own, to exercise the will to learn and strengthen friendly exchanges from the other. For almost a year and a half we are part of organization that with the name of UNIBANCA, made itself felt its willingness to occupy a significant place in the Venezuelan banking.
During this significant time for us, we continue to learn and innovate, expanding our technological horizons, but especially, we did a thorough job so that growth does not submit to us losing the ground gained in the field of quality of services.
Thus we come to July 2002, the moment where the stage fulfilled until today starts: Banesco was relaunched with a dimension and significance similar to the one today: a bank that has deployed a network of over 450 agencies throughout the Venezuelan geography, to cover more than four and a half million customers, with the most satisfactory level of quality. Many things could be said tonight about the successes and achievements. It is sufficient to say one of which we are particularly proud: we are the first VISA card issuer bank in Latin America.
A few minutes ago we completed the ribbon cutting ceremony of Banesco Panama, which for us means something very deep. We do not understand it as a new stage in our growth options, but as the inauguration of new experiences and learning, because we know that Panama is also a market for excellence and highly competitive in our business, it has an invaluable cultural history in what respects to customer service, which in recent decades has risen as an international benchmark that enjoys the highest esteem, and a model that is followed with particular attention in most countries of Latin America.
The excitement that overwhelms us comes from the huge expectations we have for this country that is arguably fighter, to each of its citizens, and to the potential of our business activity. There is so much we can learn and share, that it is inconceivable what symbolically begins today, just as a new stretch of the same route, but far beyond, as the emergence, the foundation of a new Banesco again willing to learn and share, again ready to take hold with their values and best roots in this friendly and promising land.
I do not speak solely in my name; my voice carries the emotion of the thousands of people who from Venezuela, support this initiative we have taken. We are sincerely grateful for the opportunity that Panama, its open and enthusiastic culture, its financial and legal systems and, especially, every one of you, have provided us to prove with facts our willingness to do things always the best way possible, always with the premise of respect for others, one of our core values.
In a larger sense, we are just arriving, ready to recognize and know the terrain. But in a more specific sense, Banesco has fifteen years since it started trading offshore in Panama, with Banesco International Bank. Since last February 7, Banesco corporation has legal existence, and already we have begun to take its first steps, our major purpose is to provide the highest service to all individuals, companies and institutions that made the decision to know us and were the first to give us a vote of confidence: from this our responsibility will be to work hard like we always have to conquer your hearts.
I want to finish my speech by saying the following: truth is that we have come from another country, where we love a lot Panama and Panamanians, because too many things unite us. But so is that we have not come to visit, or to stay for a certain time. If your country allows, we will establish ourselves here. As we had dreamed, Banesco is being filled in Panama of Panamanian citizens. Because that’s what we want, come a day when we feel like one of you.
I conclude by sharing one of the most beautiful words, which is present in more than six thousand languages that coexist on the Earth, and in our beautiful Spanish language, is pronounced like this: Gracias (thanks). Thank you very much everyone for joining us tonight, and having listened to the explanation of who we are and what we came for.

Graduation Ceremony of the Instituto Universitario San Francisco

by Juan Carlos Escotet Rodríguez on Aug. 29, 2011, under Banesco Banco Universal, Juan Carlos Escotet Rodríguez, Speeches
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I begin this brief speech, sharing with you a confession: among the many activities that are part of my agenda, This must be the one that not only gives me the best satisfaction, but also greater serenity and at the same time, many questions.

One fact not always taken into account, is that institutions and companies are made up of people who have each a way of thinking, but above all, a willingness to experience feelings very differently. Humans can have ideas or similar criteria, but what really makes us unique and different is that we never live feelings in a similar way.

I say this because on a rational level, like many others in Venezuela, I fully agree that the most strategic and lasting contribution that business can do for the country, the Venezuela of our passions is to help strengthen the education and values of our culture. But in all of this, my emotions are also engaged in a very special and decisive way.

Here, at this hour and before each one of you, I can give myself the privilege of taking a deep breath and say, it’s good that we had the privilege of contributing to this cause. I look at this book, I think it might have use for you and future generations of people willing to learn, and tell myself that was worth it, these are the efforts, the decisions that reconcile with the life and work, facing so many difficulties and problems with which we all have to deal every day.

Not far from here in the city of Barquisimeto, tomorrow I will attend the opening of the second building of the Instituto Universitario Jesus Obrero, your sister institution. There we invested over 7 billion Bolivars.

Today I am among you, enjoying the fruitful destiny that have donated resources for the provision of the first stage, which were more than 2 thousand 400 million Bolivars. The second stage of the San Francisco Institute of Maracaibo, contemplates an investment of 7 billion that Banesco will give.

If someone asked me how we got here, how is that for a financial institution as Banesco, this training center in Maracaibo becomes a point, one of its major causes and purposes, I will answer, because our sense of responsibility has no boundaries, geographical nor thematic.

We are here by conviction, by true and matured belief. Because we have a deep and renewed respect for this exemplary institution that is Fe y Alegría. Because when we assessed the needs in the country, which are immense and complex, we realized that the best we can do is contribute to the goal of the formation and multiplication of knowledge. But above all, friends here, because we have hope. It is the sense of hope, the feeling that we must attend to the call of the heart that tells us that we must keep fighting in every place where possible, which brings us to you, what binds us to this magnificent project.

I said at the beginning that the decision to contribute to the projections of an institution like Fe y Alegría is at once a source of joy but also of questions that have some significance. It is a thought that, with increasing frequency, I carry. I wonder if it is possible for many businesses, citizens and people with power of decision to join a cause like this. If each one of the young graduates of this institution has in the forefront of his work schedule the search of opportunities like those in the coming years, more people can be benefited by an educational activity like this.

My point is the question of how much real understanding and willingness are in the Venezuelan society to embrace education in all its phases, as the most important and necessary personal activities, family, community and all the institutions. I often wonder if between what is said and what really is, there is a large gap or not. But I ask myself the most immediate question, I do it myself and to the people around me. What else can we do? How do we make teaching and learning the most unanimous and efficient project of our beloved Venezuela?

And I cannot finish without asking the question to the students of this Instituto Universitario San Francisco: Are you willing to make a commitment to other Venezuelans coming years? Would you be able to remember what you have received so this becomes an episode of gratitude, someday, somewhere? Finally, are you ready with me, right now, to give a round of applause to these wonderful and battling people who are Fe y Alegría?

Inauguration of the second stage of the Instituto Universitario Jesús Obrero Barquisimeto

by Juan Carlos Escotet Rodríguez on Aug. 24, 2011, under Banesco Banco Universal, Corporate Social Responsibility, Juan Carlos Escotet Rodríguez, Speeches
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Thursday, August 2, 2007.

Today I come to repeat the words that I transmitted yesterday on behalf of the institution that I represent to your fellow colleagues of the IUJO San Francisco Maracaibo, it is a confession: among the many activities that are part of my agenda, this should be the one that not only gives me the best satisfaction, but also greater serenity and at the same time, many questions.

One fact not always taken into account, is that institutions and companies are made up of people who have each a way of thinking, but above all, a willingness to experience feelings very differently. Humans can have ideas or similar criteria, but what really makes us unique and different is that we never live feelings in a similar way.

I say this because on a rational level, like many others in Venezuela, I fully agree that the most strategic and lasting contribution that business can do for the country, the Venezuela of our passions is to help strengthen the education and values of our culture. But in all of this, my emotions are also engaged in a very special and decisive way.

Here, at this hour and before each one of you, I can give myself the privilege of taking a deep breath and say, it’s good that we had the privilege of contributing to this cause. I look at this book, I think it might have use for you and future generations of people willing to learn, and tell myself that was worth it, these are the efforts, the decisions that reconcile with the life and work, facing so many difficulties and problems with which we all have to deal every day.

Not far from here, in the city of Maracaibo, yesterday I attended the graduation ceremony of the first graduates of the Instituto Universitario San Francisco, your sister institution and to which we provided 2 thousand 450 million bolivars for the provision of the first stage and where we are also contributing 7 billion bolivars for another classroom building. And today I am among you, enjoying the fruitful destiny that donated resources had, both here in Barquisimeto and in the work inaugurated in March 2006 and which today is baptized, which were for a total of more than 7 billion Bolivars.

If someone asked me how we got here, how is that for a financial institution as Banesco, this training center in Barquisimeto becomes a point, one of its major causes and purposes, I will answer, because our sense of responsibility has no boundaries, geographical nor thematic.

We are here by conviction, by true and matured belief. Because we have a deep and renewed respect for this exemplary institution that is Fe y Alegría. Because when we assessed the needs in the country, which are immense and complex, we realized that the best we can do is contribute to the goal of the formation and multiplication of knowledge. But above all, friends here, because we have hope. It is the sense of hope, the feeling that we must attend to the call of the heart that tells us that we must keep fighting in every place where possible, which brings us to you, what binds us to this magnificent project.

I said at the beginning that the decision to contribute to the projections of an institution like Fe y Alegría is at once a source of joy but also of questions that have some significance. It is a thought that, with increasing frequency, I carry. I wonder if it is possible for many businesses, citizens and people with power of decision to join a cause like this. If each one of the young graduates of this institution has in the forefront of his work schedule the search of opportunities like those in the coming years, more people can be benefited by an educational activity like this.

My point is the question of how much real understanding and willingness are in the Venezuelan society to embrace education in all its phases, as the most important and necessary personal activities, family, community and all the institutions. I often wonder if between what is said and what really is, there is a large gap or not. But I ask myself the most immediate question, I do it myself and to the people around me. What else can we do? How do we make teaching and learning the most unanimous and efficient project of our beloved Venezuela?

And I cannot finish without asking the question to the students of this Instituto Universitario Jesus Obrero: Are you willing to make a commitment to other Venezuelans coming years? Would you be able to remember what you have received so this becomes an episode of gratitude, someday, somewhere? Finally, are you ready with me, right now, to give a round of applause to these wonderful and battling people who are Fe y Alegría?

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