A lot of money and power is riding on the shoulders of one of the most powerful South American economies.
Citgo, the South American oil giant, is one of its biggest shareholders, but it’s also the biggest employer and bank in the country.
Citgos share value was estimated at over $US5 billion ($7.1 billion) when the company was founded in 2005.
The next year, Citgo said it would invest more than $US8 billion ($10.5 billion) in its operations, creating an estimated $US10 billion ($13.5 bn) in economic activity.
Its main assets are Citgo and its flagship bank, Banco Popular.
It also has investments in banks in Chile, Colombia, Peru, and Venezuela.
But its biggest bank, Bankia, is the world’s biggest bank by assets, holding $US6.5 trillion ($7 trillion) in assets.
Bankia’s market capitalisation is over $1 trillion.
Citigos shares are traded in over 140 countries and are traded on the London Stock Exchange.
This week, it raised a whopping $US1.9 billion ($2.1 bn), putting it in the top five largest banks in the planet.
Here’s a look at the biggest banks in Latin America.
Source: Bloomberg, The Telegraph