ASOBANAsociación de Bancos Privados de Bolivia (Spanish: Association of Private Banks of Bolivia; Bolivia)
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However, as social upheavals and institutional backlashes against private ownership were intensifying, the business leadership of the CAINCO and the Banker's Association of Bolivia (ASOBAN) began a systematic effort to generate political alliances with 'purely' foreign investors.
(34) Mandatory closures generated protracted opposition from managers and employees in state banks and from ASOBAN, the banking federation.
Table 1: Foreign investment in Bolivia's banking sector (1998) Foreign equity Domestic equity Bank (%) (%) Banco de Santa Cruz 90 10 Banco de Credito 100 0 Banco National de Bolivia 0.02 99.98 Banco Mercantil 2.78 97.22 Banco Industrial SA 73.8 26.2 Banco Union 13.65 86.35 Banco Economico 27 73 Banco Ganadero 0 100 Banco Solidario 71 29 Banco Boliviano Americano 48 52 Total capital Bank (US$ millions) Banco de Santa Cruz 515 Banco de Credito 489.4 Banco National de Bolivia 474.1 Banco Mercantil 465.1 Banco Industrial SA 455.1 Banco Union 271.3 Banco Economico 191 Banco Ganadero 168 Banco Solidario 50.4 Banco Boliviano Americano -- Source: ASOBAN