Last Updated on February 14, 2025
In Bolivia, you’ll find that 12 major banks offer a wide range of services and dominate the country’s financial market. Furthermore, 11 of these 12 banks are ranked among the 250 largest banks in South America. Each of these large Bolivian banks has total assets ranging from $1 billion to $5 billion, which is roughly 500 times smaller than the largest banks in the US.
The largest bank in Bolivia is the Mercantile Santa Cruz Bank, which also ranks as the 96th largest bank in South America. This bank has assets of $5.22 billion, an annual income of $27.9 million, 180 branches, and 440 ATMs. The second and third largest banks are Union Bank and BNB Bank, respectively.
In this article about Bolivia’s largest banks, we’ll provide comprehensive details about these institutions, including their history, key financial and size metrics, and our assessment of the services they offer. You’ll also learn about the five largest banks in our country and the largest banks by category.
The Largest Bank in Bolivia
According to the specialized South American financial magazine “America Economia” (see the full report here: in Spanish, or translated), as of 2020, the largest bank in Bolivia is the Mercantile Santa Cruz Bank (Banco Mercantil Santa Cruz). This bank holds the 96th position in the ranking of the 250 largest banks in South America.
This bank was also rated as the 2nd best bank in Bolivia in 2021 according to the CAMELS rating system (see the full report here: in Spanish, or translated), an international banking rating system that assesses a bank’s financial strength.
This is a relatively new bank formed through the merger of *two pre-existing banks* that operated in Bolivia for many years. The initial merger occurred in 2007, combining Santa Cruz Bank and Mercantile Bank. Later, in 2015, this merged bank absorbed another bank called Los Andes Bank.
The Mercantile Santa Cruz Bank has risen in size among other South American banks, climbing from the 165th position in 2013 to the 96th position in 2020, primarily due to its absorption of Los Andes Bank. It’s also publicly traded on the Bolivian stock exchange.
This bank has the following key financial metrics:
Assets: $5.219 billion
Liabilities: $4.929 billion
Equity: $289.6 million
Annual Income: $27.9 million
Loan Portfolio: $3.483 billion
Savings Deposits: $3.820 billion
Branches nationwide: >180
ATMs nationwide: 505
What Do We as Bolivians Think of the Largest Bank in Our Country?
Based on our experience, we’ve found that this bank offers reliable services *and has slightly lower transaction fees compared to other banks*. It also provides enhanced security when withdrawing money from a branch, as it requires multiple security measures simultaneously, such as fingerprint scanning along with your ID and debit card.
Furthermore, this bank’s branches are often less crowded, allowing for quicker service. However, beyond these advantages, we haven’t found this bank to be significantly superior to other banks in the country. It offers similar interest rates for various types of loans and savings accounts, and the number of available ATMs isn’t substantially higher than that of other banks. Moreover, its smartphone app isn’t the most user-friendly.
Top 5 Largest Banks in Bolivia
According to the same “America Economia” ranking (full report: in Spanish, or translated), the five largest banks in Bolivia as of 2020 are:
- Mercantile Santa Cruz Bank (96th position).
- Union Bank (117th position).
- BNB Bank (121st position).
- Bisa Bank (142nd position).
- Credit Bank (150th position).
| Ranking (Largest) | Bank Name | Assets (Millions) | Liabilities (Millions) | Equity (Millions) | Annual Income (Millions) | Loan Portfolio (Millions) | Savings Deposits (Millions) |
| 1 | Mercantile Santa Cruz Bank | $5,219 | $4,929.4 | $289.6 | $27.9 | $3,483.3 | $3,820.9 |
| 2 | Union Bank | $4,181.5 | $3,869.1 | $312.4 | $35.8 | $2,587.4 | $2,762.8 |
| 3 | BNB Bank | $3,846.5 | $3,589.6 | $256.4 | $33.5 | $2,653.6 | $2,786.3 |
| 4 | Bisa Bank | $3,296.5 | $3,067 | $229.5 | $31.1 | $2,173.7 | $2,487.2 |
| 5 | Credit Bank | $2,959.4 | $2,751.7 | $207.7 | $29.7 | $2,134.9 | $2,277.7 |
1) Mercantile Santa Cruz Bank
As mentioned in the previous section, the Mercantile Santa Cruz Bank (Banco Mercantil Santa Cruz) is the largest in Bolivia, and it has held this position since the America Economia ranking began tracking bank sizes in 2013.
The Mercantile Santa Cruz Bank has the following key financial metrics:
Assets: $5.219 billion
Liabilities: $4.929 billion
Equity: $289.6 million
Annual Income: $27.9 million
Loan Portfolio: $3.483 billion
Savings Deposits: $3.820 billion
Branches nationwide: >180
ATMs nationwide: 505
2) Union Bank
The Union Bank (Banco Union) is a state-owned bank belonging to the Bolivian government. It primarily serves both private and public clients and is heavily involved in social lending and public projects typically undertaken by the Bolivian government.
Union Bank has the following key financial metrics:
Assets: $4.181 billion
Liabilities: $3.869 billion
Equity: $312.4 million
Annual Income: $35.8 million
Loan Portfolio: $2.587 billion
Savings Deposits: $2.762 billion
Branches nationwide: 219
ATMs nationwide: 412
3) BNB Bank
The BNB Bank (Banco Nacional de Bolivia BNB) is also ranked as the best bank in Bolivia according to the CAMELS banking rating system used in Bolivia (see the full report here: in Spanish, or translated).
BNB Bank has the following key financial metrics:
Assets: $3.846 billion
Liabilities: $3.589 billion
Equity: $256.4 million
Annual Income: $33.5 million
Loan Portfolio: $2.653 billion
Savings Deposits: $2.786 billion
Branches nationwide: 81
ATMs nationwide: 379
4) Bisa Bank
The Bisa Bank (Banco Bisa) has almost 60 years of history in Bolivia. It began as an industrial bank primarily serving mining and agricultural companies, but later transitioned into a commercial bank serving various types of businesses and individual clients.
Bisa Bank has the following key financial metrics:
Assets: $3.296 billion
Liabilities: $3.067 billion
Equity: $229.5 million
Annual Income: $31.1 million
Loan Portfolio: $2.173 billion
Savings Deposits: $2.487 billion
Branches nationwide: 82
ATMs nationwide: 339
5) Credit Bank
The Credit Bank (Banco de Crédito BCP) is a subsidiary of the Peruvian Credit Bank, formed from the acquisition of a previous Bolivian bank called the Popular Bank. Since then, the Credit Bank in Bolivia has grown to become one of the largest operating in the country.
The Credit Bank has the following key financial metrics:
Assets: $2.959 billion
Liabilities: $2.751 billion
Equity: $207.7 million
Annual Income: $29.7 million
Loan Portfolio: $2.134 billion
Savings Deposits: $2.277 billion
Branches nationwide: >80
ATMs nationwide: ~300
Largest Banks in Bolivia by Type of Bank
In Bolivia, you’ll find three main types of banks available to the general public:
- Multipurpose banks.
- Banks for small businesses (PYMEs).
- Institutions supporting social projects (IFDs).
The Largest Multipurpose Bank
Bolivia’s major banks fall into this category. They are multipurpose because they provide a wide range of services to diverse clients, including checking and savings accounts, fixed-term deposits, consumer loans, housing loans, business loans, credit cards, insurance, money transfers, utility payment systems, payroll services, etc.
In Bolivia, there are only 12 major multipurpose banks. As previously mentioned, the largest one is:
- The Mercantile Santa Cruz Bank (with assets of $5.219 billion).
The Largest Bank for Small Businesses (PYME)
This category includes banks focused on supporting the *establishment and growth of small businesses* with capital ranging from $10,000 to $1 million. These banks are highly specialized in serving small businesses, which are abundant and constantly emerging in Bolivia. Another way to view these banks is as supporters of Bolivian entrepreneurship.
In Bolivia, there are hundreds of banks of this type, some of them very small. However, the largest one is:
- BancoSol Bank (with assets of $2.043 billion) (English website).
The Largest Bank for Social Projects (IFD)
There are also small financial institutions focused on funding and developing social projects and non-profit organizations. They also assist vulnerable population groups. These institutions cannot be formally classified as “banks,” but they do offer some services typical of banks, such as providing loans to organizations and individuals facing financial difficulties.
There are hundreds of these institutions, many located in rural areas of Bolivia. The largest one is:
- Diaconia IFD (with assets of $55.4 million).
Conclusions:
In this article about Bolivia’s largest banks, you’ve learned that the largest bank in 2020, according to the reputable South American ranking magazine “America Economia,” was the Mercantile Santa Cruz Bank, with total assets of around $5.2 billion. This bank also has approximately 180 branches and 505 ATMs across the country.
You’ve seen that this bank is also rated as the second-best bank in Bolivia, according to the CAMEL ranking system. Moreover, you’ve learned that other banks are very close in size, such as Union Bank, which is the second largest; BNB Bank, the third largest; Bisa Bank, the fourth; and Credit Bank, the fifth largest.
Finally, you’ve seen that the largest multipurpose bank in Bolivia is, again, the Mercantile Santa Cruz Bank. The largest bank for small businesses (PYMEs) is BancoSol Bank, and the largest institution for social projects is Diaconia IFD.
We hope this information has been helpful. If you’d like to learn more about the 12 major banks in Bolivia, including the quality of services they offer to both Bolivians and foreigners, please visit our dedicated guide: Banks in Bolivia: A Complete Guide and List.
CasasenBolivia.com, information on living, working, investing, and traveling in Bolivia.
