2006 Profit Loss Statement by rxh42623

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									                              BANCO CENTRAL DE VENEZUELA
                                      COMPARATIVE
                               PROFIT AND LOSS STATEMENT
                                          (in millions of bolivars)

                                                                              31-12-2006 30-06-2006

INCOME FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations (Note 15)                                           1,376,429    460,044
From Gold Operations                                                               3,751      4,160
From Operations with International Agencies                                       15,195     32,332
From International Agreement and Financial Cooperation Operations                  4,048      3,219
From External Credit Operations                                                        0          0
From Realized Exchange and Price Fluctuations (Note 16)                        1,017,183     919,628
  TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                                2,416,606   1,419,383

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                                     180        624
 From Investment Operations                                                       55,716     93,321
 From Note Issuing and Coinage Operations                                              0          0
 From Exchange Operations                                                         87,636    102,391
 From Mint Operations                                                             15,447      8,045
 From Various Local Currency Operations                                          117,069    395,270
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                                   276,048    599,651

                                                               TOTAL INCOME    2,692,654   2,019,034

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                            16          0
From Gold Operations                                                              15,156     12,179
From Operations with International Agencies                                       20,079     16,972
From International Agreement and Financial Cooperation Operations                  8,003      6,906
From External Credit Operations                                                      388        388
From Various Foreign Exchange Operations                                           3,360      3,518
From Realized Exchange and Price Fluctuations (Note 16)                              644      2,162
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                                 47,646     42,125

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                                1,775,576   1,704,752
From Credit Assistance Operations                                                      0           0
From Note Issuing and Coinage Operations                                          52,186      25,058
From Exchange Operations                                                               1           3
From Operating Expenses                                                          292,099     225,610
From Loan Loss Provisions                                                        320,000           0
From Mint Operations                                                              11,932       5,947
From Various Local Currency Operations                                            22,184          28
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                                2,473,978   1,961,398

                                                            TOTAL EXPENSES     2,521,624   2,003,523

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                         171,030     15,511

  APPLICATION OF EQUITY INCREASE
General Reserve Fund (Note 17)                                                    17,103      1,551
Reservas Voluntarias (Nota 18)                                                     8,551        776
Remainder to deliver to National Treasury (Note 19)                              145,376     13,184

                             TOTAL APPLICATION OF EQUITY INCREASE                171,030     15,511



The attached notes form an integral part of the financial statements
                              BANCO CENTRAL DE VENEZUELA
                                      COMPARATIVE
                               PROFIT AND LOSS STATEMENT
                                          (in millions of bolivars)

                                                                              31-12-2005 30-06-2005

INCOME FROM FOREIGN EXCHANGE OPERATIONS
 From Investment Operations                                                      518,170    310,074
 From Gold Operations                                                             14,142      5,127
 From Operations with International Agencies                                      10,564     13,427
 From International Agreement and Financial Cooperation Operations                 3,818      2,578
 From External Credit Operations                                                       0          0
From Realized Exchange and Price Fluctuations (Note 16)                        2,053,202   2,443,077
  TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                                2,599,896   2,774,283

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                                     441      2,658
 From Investment Operations                                                       77,296     32,377
 From Note Issuing and Coinage Operations                                              0          0
 From Exchange Operations                                                         82,868     68,900
 From Mint Operations                                                              7,846      4,100
 From Various Local Currency Operations                                           18,195     10,023
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                                   186,646    118,058

                                                               TOTAL INCOME    2,786,542   2,892,341

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                             0          0
From Gold Operations                                                              14,064     11,569
From Operations with International Agencies                                       13,794     11,806
From International Agreement and Financial Cooperation Operations                  4,141      2,417
From External Credit Operations                                                      388        388
From Various Foreign Exchange Operations                                           3,173      2,894
From Realized Exchange and Price Fluctuations (Note 16)                          108,459    167,443
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                                144,019    196,517

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                                1,248,065    624,328
From Credit Assistance Operations                                                      0          0
From Note Issuing and Coinage Operations                                          36,886     11,556
From Exchange Operations                                                              23          0
From Operating Expenses                                                          200,421    164,870
From Loan Loss Provisions                                                        204,189          0
From Mint Operations                                                               6,385      3,270
From Various Local Currency Operations                                                14        213
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                                1,695,983    804,237

                                                            TOTAL EXPENSES     1,840,002   1,000,754

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                         946,540   1,891,587

  APPLICATION OF EQUITY INCREASE
General Reserve Fund (Note 17)                                                    94,654          0
Reservas Voluntarias (Nota 18)                                                    47,327           0
Remainder to deliver to National Treasury (Note 19)                              804,559   1,891,587

                             TOTAL APPLICATION OF EQUITY INCREASE                946,540   1,891,587



The attached notes form an integral part of the financial statements
                            BANCO CENTRAL DE VENEZUELA
                                    COMPARATIVE
                             PROFIT AND LOSS STATEMENT
                                       (in millions of bolivars)

                                                                           31-12-2004 30-06-2004

INCOME FROM FOREIGN EXCHANGE OPERATIONS
 From Investment Operations                                                   202,274     123,840
 From Gold Operations                                                           9,526       6,849
 From Operations with International Agencies                                    7,163      18,691
 From International Agreement and Financial Cooperation Operations              1,708       1,189
 From External Credit Operations                                                    0           0
 From Realized Exchange and Price Fluctuations (Note 15)                    3,822,283   2,202,424
   TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                            4,042,954   2,352,993

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                                  592      9,674
 From Investment Operations                                                    45,173     62,179
 From Note Issuing and Coinage Operations                                           0          0
 From Exchange Operations                                                      73,597     43,469
 From Mint Operations                                                           7,336      5,235
 From Various Local Currency Operations                                         9,287     15,531
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                                135,985    136,088

                                                            TOTAL INCOME    4,178,939   2,489,081

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                          0          0
From Gold Operations                                                            9,363      8,309
From Operations with International Agencies                                     9,287      7,115
From International Agreement and Financial Cooperation Operations               1,225        375
From External Credit Operations                                                   388        388
From Various Foreign Exchange Operations                                        3,083      3,034
From Realized Exchange and Price Fluctuations (Note 15)                       141,760     25,329
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                             165,106     44,550

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                               416,280    526,717
From Credit Assistance Operations                                                   0          0
From Note Issuing and Coinage Operations                                       27,109     13,471
From Exchange Operations                                                          141          0
From Operating Expenses                                                       196,209    138,252
From Loan Loss Provisions                                                         633          0
From Mint Operations                                                            6,197      2,742
From Various Local Currency Operations                                             73      1,884
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                             646,642     683,066

                                                          TOTAL EXPENSES    811,748     727,616

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                   3,367,191   1,761,465

  APPLICATION OF EQUITY INCREASE
General Reserve Fund (Note 16)                                                 1,154     176,147
Remainder to deliver to National Treasury                                  3,366,037   1,585,318

                              TOTAL APPLICATION OF EQUITY INCREASE         3,367,191   1,761,465



The attached notes form an integral part of the financial statements
                            BANCO CENTRAL DE VENEZUELA
                                    COMPARATIVE
                             PROFIT AND LOSS STATEMENT
                                       (in millions of bolivars)

                                                                           31-12-2003 30-06-2003

INCOME FROM FOREIGN EXCHANGE OPERATIONS
 From Investment Operations                                                    83,022      72,326
 From Gold Operations                                                           4,937       6,837
 From Operations with International Agencies                                   19,611       4,894
 From International Agreement and Financial Cooperation Operations              2,416         390
 From External Credit Operations                                                    0           0
 From Realized Exchange and Price Fluctuations                              1,715,775   2,822,412
   TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                            1,825,761   2,906,859

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                               21,620    146,809
 From Investment Operations                                                    65,053     84,901
 From Note Issuing and Coinage Operations                                           0          0
 From Exchange Operations                                                      33,706     14,023
 From Mint Operations                                                           9,687      1,682
 From Various Local Currency Operations                                        12,861     14,722
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                                142,927    262,137

                                                            TOTAL INCOME    1,968,688   3,168,996

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                          0          0
From Gold Operations                                                            5,733      5,104
From Operations with International Agencies                                     5,666      6,279
From International Agreement and Financial Cooperation Operations                  43      1,668
From External Credit Operations                                                   388        389
From Various Foreign Exchange Operations                                        3,048      3,035
From Realized Exchange and Price Fluctuations                                 117,530    249,820
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                             132,408    266,295

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                               577,847    330,708
From Credit Assistance Operations                                                   0          0
From Note Issuing and Coinage Operations                                       14,213      6,631
From Exchange Operations                                                            0          0
From Operating Expenses                                                       132,127    117,265
From Loan Loss Provisions                                                         123        723
From Mint Operations                                                            4,317      1,439
From Various Local Currency Operations                                          1,342        194
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                             729,969     456,960

                                                          TOTAL EXPENSES    862,377     723,255

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                   1,106,311   2,445,741

  APPLICATION OF EQUITY INCREASE
General Reserve Fund (Note 16)                                              110,631      244,574
Remainder to deliver to National Treasury                                   995,680    2,201,167

                              TOTAL APPLICATION OF EQUITY INCREASE         1,106,311   2,445,741



The attached notes form an integral part of the financial statements
                            BANCO CENTRAL DE VENEZUELA
                                    COMPARATIVE
                             PROFIT AND LOSS STATEMENT
                                       (In Millions of Bolivars)

                                                                           31-12-02    30-09-02

INCOME FROM FOREIGN EXCHANGE OPERATIONS
 From Investment Operations                                                   32,195      86,500
 From Gold Operations                                                          3,324      16,496
 From Operations with International Agencies                                  19,059      10,340
 From International Agreement and Financial Cooperation Operations               207       1,545
 From External Credit Operations                                                   0           0
 From Realized Exchange and Price Fluctuations                               154,971   1,320,201
   TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                             209,756   1,435,082

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                              41,964      77,379
 From Investment Operations                                                   49,635     200,463
 From Note Issuing and Coinage Operations                                          0           0
 From Exchange Operations                                                     14,458      43,533
 From Mint Operations                                                            294       1,331
 From Various Local Currency Operations                                        8,274      10,513
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                               114,625     333,219

                                                            TOTAL INCOME     324,381   1,768,301

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                         0           0
From Gold Operations                                                           2,401       4,777
From Operations with International Agencies                                    3,006       7,914
From International Agreement and Financial Cooperation Operations                987      18,063
From External Credit Operations                                                  194         582
From Various Foreign Exchange Operations                                       1,359       3,622
From Realized Exchange and Price Fluctuations                                 25,738      39,158
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                             33,685      74,116

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                               77,601     151,478
From Credit Assistance Operations                                                  0           0
From Note Issuing and Coinage Operations                                      11,598       9,524
From Exchange Operations                                                           0           0
From Operating Expenses                                                       64,276     159,328
From Loan Loss Provisions                                                        303      20,215
From Mint Operations                                                           2,845       1,490
From Various Local Currency Operations                                         1,090       5,941
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                            157,713    347,976

                                                          TOTAL EXPENSES   191,398    422,092

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                   132,983   1,346,209

  APPLICATION OF EQUITY INCREASE
General Reserve Fund (Note 16)                                              13,298     134,621
Remainder to deliver to National Treasury                                  119,685   1,211,588

                              TOTAL APPLICATION OF EQUITY INCREASE         132,983   1,346,209



The attached notes form an integral part of the financial statements
                            BANCO CENTRAL DE VENEZUELA
                                    COMPARATIVE
                             PROFIT AND LOSS STATEMENT
                                       (In Millions of Bolivars)

                                                                           31-12-01    30-06-01

INCOME FROM FOREIGN EXCHANGE OPERATIONS
 From Investment Operations                                                   59,945     117,432
 From Gold Operations                                                          9,014       7,087
 From Operations with International Agencies                                  12,115      10,244
 From International Agreement and Financial Cooperation Operations            20,214         884
 From External Credit Operations                                                   0           0
 From Realized Exchange and Price Fluctuations                               581,646     582,706
   TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                             682,934     718,353

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                                   0         369
 From Investment Operations                                                   97,145      80,198
 From Note Issuing and Coinage Operations                                          0           0
 From Exchange Operations                                                     13,748      14,787
 From Mint Operations                                                              5           0
 From Various Local Currency Operations                                        6,233       7,847
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                               117,131     103,201

                                                            TOTAL INCOME     800,065     821,554

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                        81         214
From Gold Operations                                                           1,965       1,737
From Operations with International Agencies                                    4,347       5,663
From International Agreement and Financial Cooperation Operations                423          67
From External Credit Operations                                                  389         390
From Various Foreign Exchange Operations                                       1,737       3,973
From Realized Exchange and Price Fluctuations                                  6,777      17,321
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                             15,719      29,365

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                               44,723      29,394
From Credit Assistance Operations                                                  0           0
From Note Issuing and Coinage Operations                                      10,002       3,516
From Exchange Operations                                                           0           0
From Operating Expenses                                                       95,253      85,686
From Loan Loss Provisions                                                     17,311           0
From Mint Operations                                                               2           0
From Various Local Currency Operations                                         1,035          17
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                            168,326   118,613

                                                          TOTAL EXPENSES   184,045   147,978

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                   616,020   673,576

  APPLICATION OF EQUITY INCREASE
General Reserve Fund                                                        61,602    67,358
Remainder to deliver to National Treasury (Note 16)                        554,418   606,218

                            TOTAL APPLICATION OF EQUITY INCREASE           616,020   673,576



The attached notes form an integral part of the financial statements
                            BANCO CENTRAL DE VENEZUELA
                                    COMPARATIVE
                             PROFIT AND LOSS STATEMENT
                                       (In Millions of Bolivars)

                                                                           31-12-00    30-06-00

INCOME FROM FOREIGN EXCHANGE OPERATIONS
 From Investment Operations                                                  175,581     144,431
 From Gold Operations                                                          4,594      15,939
 From Operations with International Agencies                                  12,204      11,904
 From International Agreement and Financial Cooperation Operations             1,164       1,186
 From External Credit Operations                                                   0           0
 From Realized Exchange and Price Fluctuations                                28,792      32,678
   TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                             222,335     206,138

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                                 154         121
 From Investment Operations                                                   76,264     112,442
 From Note Issuing and Coinage Operations                                          0           0
 From Exchange Operations                                                     15,314      14,581
 From Various Local Currency Operations                                        6,629       8,395
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                                98,361     135,539

                                                            TOTAL INCOME     320,696     341,677

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                         0       1,417
From Gold Operations                                                           1,240       1,852
From Operations with International Agencies                                    6,711       5,945
From International Agreement and Financial Cooperation Operations                893         129
From External Credit Operations                                                  392         392
From Various Foreign Exchange Operations                                       8,998      11,982
From Realized Exchange and Price Fluctuations                                 14,380      26,377
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                             32,614      48,094

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                               35,381      76,339
From Credit Assistance Operations                                                  0           0
From Note Issuing and Coinage Operations                                       6,791       3,313
From Exchange Operations                                                           0           0
From Operating Expenses                                                       53,246      49,879
From Loan Loss Provisions                                                          0           0
From Various Local Currency Operations                                             2          11
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                               95,420     129,542
                                                          TOTAL EXPENSES   128,034   177,636

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                   192,662   164,041

  APPLICATION OF EQUITY INCREASE
General Reserve Fund                                                        19,266    16,404
Remainder to deliver to National Treasury (Note 16)                        173,396   147,637

                            TOTAL APPLICATION OF EQUITY INCREASE           192,662   164,041



The attached notes form an integral part of the financial statements
                            BANCO CENTRAL DE VENEZUELA
                                    COMPARATIVE
                             PROFIT AND LOSS STATEMENT
                                       (In Millions of Bolivars)

ITEMS                                                                          12/31/1999   6/30/1999

INCOME FROM FOREIGN EXCHANGE OPERATIONS
 From Investment Operations                                                       116,150     101,830
 From Gold Operations                                                              10,214       2,545
 From Operations with International Agencies                                        9,384       7,408
 From International Agreement and Financial Cooperation Operations (Note 16)       22,494         944
 From External Credit Operations                                                        0           0
 From Realized Exchange and Price Fluctuations                                     81,664     293,851
   TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                                  239,906     406,578

INCOME FROM LOCAL CURRENCY OPERATIONS
 From Monetary Policy Operations                                                      116       1,188
 From Investment Operations                                                        42,366      45,181
 From Note Issuing and Coinage Operations                                               0           0
 From Exchange Operations                                                          10,471       7,490
 From Various Local Currency Operations                                            10,120      10,019
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                                     63,073      63,878

                                                            TOTAL INCOME          302,979     470,456

EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                          6,238       7,987
From Gold Operations                                                                1,849       1,680
From Operations with International Agencies                                         4,916       4,274
From International Agreement and Financial Cooperation Operations                      70          83
From External Credit Operations                                                       390         389
From Various Foreign Exchange Operations                                           20,834      22,823
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                                  34,297      37,236

EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                                   211,196     324,642
From Credit Assistance Operations                                                       0           0
From Note Issuing and Coinage Operations                                            6,842       2,298
From Exchange Operations                                                                0           0
From Operating Expenses                                                            47,022      41,906
From Loan Loss Provisions                                                               0      20,000
From Various Local Currency Operations                                              1,184       2,207
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                                   266,244     391,053

                                                        TOTAL EXPENSES            300,541     428,289

  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                            2,438      42,167

  APPLICATION OF EQUITY INCREASE
General Reserve Fund                                                     244   32,167
Remainder to deliver to National Treasury                              2,194   10,000

                            TOTAL APPLICATION OF EQUITY INCREASE       2,438   42,167


The attached notes form an integral part of the financial statements
                            BANCO CENTRAL DE VENEZUELA
                             PROFIT AND LOSS STATEMENT
                                       (In Millions of Bolivars)


ITEMS                                                                12/31/1998       6/30/1998


INCOME FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                               121,806         137,221
From Gold Operations                                                       4,080           6,524
From Operations with International Agencies                                5,678           7,462
From International Agreement and Financial Cooperation Operations          1,130           1,102
From External Credit Operations                                                   0               0
From Realized Exchange and Price Fluctuations                            367,210         307,719
  TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                          499,904         460,028


INCOME FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                              156           1,094
From Investment Operations                                                52,880          46,883
From Note Issuing and Coinage Operations                                          0               0
From Exchange Operations                                                   9,139          10,634
From Various Local Currency Operations                                    10,328           5,122
  TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                             72,503          63,733


                                                      TOTAL INCOME       572,407         523,761


EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                 5,687           1,116
From Gold Operations                                                       2,662           2,545
From Operations with International Agencies                                4,963           4,780
From International Agreement and Financial Cooperation Operations          1,757             573
From External Credit Operations                                              880             987
From Various Foreign Exchange Operations                                  27,616          29,824
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                         43,565          39,825


EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                          459,106         286,939
From Credit Assistance Operations                                                 0               0
From Note Issuing and Coinage Operations                                   4,648           1,652
From Exchange Operations                                                          0               0
From Operating Expenses                                                   44,719          41,802
From Loan Loss Provisions                                                 16,485          90,047
From Various Local Currency Operations                                     1,303           1,159
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                          526,261         421,599


                                                  TOTAL EXPENSES         569,826         461,424


  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                   2,581          62,337


  APPLICATION OF EQUITY INCREASE
General Reserve Fund                                                       2,581          62,337
Remainder to deliver to National Treasury                                         0               0


                    TOTAL APPLICATION OF EQUITY INCREASE                   2,581          62,337
                                 BANCO CENTRAL DE VENEZUELA
                                  PROFIT AND LOSS STATEMENT
                                                (In Millions of Bolivars)


ITEMS                                                                                 12/31/1997        6/30/1997


INCOME FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                                 181,103          162,760
From Gold Operations                                                                          6,651            4,319
From Operations with International Agencies                                                   6,802            8,221
From International Agreement and Financial Cooperation Operations                             3,502            1,202
From External Credit Operations                                                                     0                  0
From Realized Exchange and Price Fluctuations (*)                                          260,398               144
   TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                                           458,456          176,646


INCOME FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                                             10,513             4,483
From Investment Operations                                                                  85,006           28,863
From Note Issuing and Coinage Operations                                                            1                  0
From Exchange Operations                                                                    15,040           10,599
From Various Local Currency Operations                                                        9,276          11,250
   TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                                             119,836           55,195


                                                              TOTAL INCOME                 578,292          231,841


EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                                      554            3,269
From Gold Operations                                                                        11,396           10,182
From Operations with International Agencies                                                   4,549            4,164
From International Agreement and Financial Cooperation Operations                               287              321
From External Credit Operations                                                               1,034            1,087
From Various Foreign Exchange Operations                                                    36,146           39,776
   TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                                          53,966           58,799


EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                                            278,489          232,967
From Credit Assistance Operations                                                                   0                  0
From Note Issuing and Coinage Operations                                                    11,745             1,848
From Exchange Operations                                                                            0                  0
From Operating Expenses                                                                     51,752           23,824
From Loan Loss Provisions                                                                  110,000                     0
From Various Local Currency Operations                                                        8,401            (329)
   TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                                           460,387          258,310


                                                          TOTAL EXPENSES                   514,353          317,109


                                                        63,939
   PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD                                                  (85,268)
Correction of Previous Fiscal Periods                                                               0                  0
Partial Application of Allowance for Other Contingencies                                            0                  0


Increase (Decrease) in Net Worth in the Semester                                            63,939         (85,268) (**)


   APPLICATION OF EQUITY INCREASE
General Reserve Fund                                                                          6,394                    0
Remainder to deliver to National Treasury                                                   57,545                     0
Allowance for Open Market Operations                                                                0                  0


                      TOTAL APPLICATION OF EQUITY INCREASE                                  63,939                     0



(*) Formerly called "Various Foreign Exchange Operations"
(**) The statement for the fiscal period ending Jun. 30, 1997 showed, under Corrections of Previous Fiscal Periods, a net profit of
   Bs 17,220 millions, reflected in the Statement of Changes in Equity Accounts, which together with the negative balances
   of Bs. 37,112 million and Bs. 85,268 million, make the Bs. 105,160 million that will be replaced by the Republic.
                           BANCO CENTRAL DE VENEZUELA
                            PROFIT AND LOSS STATEMENT
                                         (In Millions of Bolivars)


ITEMS                                                                 12/31/1996   6/30/1996


INCOME FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                              115,559      92,390
From Gold Operations                                                     17,258       6,580
From Operations with International Agencies                               9,710       9,089
From International Agreement and Financial Cooperation Operations         1,654       2,814
From External Credit Operations                                               0           0
From Realized Exchange and Price Fluctuations (*)                            93       2,358
  TOTAL INCOME FROM FOREIGN EXCHANGE OPERATIONS                         144,274     113,231


INCOME FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                           8,334       6,396
From Investment Operations                                               29,828      47,423
From Note Issuing and Coinage Operations                                  1,051           4
From Exchange Operations                                                 11,193       6,587
From Various Local Currency Operations                                   12,668      20,893
  TOTAL INCOME FROM LOCAL CURRENCY OPERATIONS                            63,074      81,303


                                                       TOTAL INCOME     207,348     194,534


EXPENSES FROM FOREIGN EXCHANGE OPERATIONS
From Investment Operations                                                  653       2,382
From Gold Operations                                                      5,676       2,784
From Operations with International Agencies                               4,261       3,419
From International Agreement and Financial Cooperation Operations           517       1,575
From External Credit Operations                                           1,152       1,169
From Various Foreign Exchange Operations                                 49,962      39,148
  TOTAL EXPENSES FROM FOREIGN EXCHANGE OPERATIONS                        62,221      50,477


EXPENSES FROM LOCAL CURRENCY OPERATIONS
From Monetary Policy Operations                                         226,853     169,404
From Credit Assistance Operations                                            0            0
From Note Issuing and Coinage Operations                                  2,871         796
From Exchange Operations                                                     0            0
From Operating Expenses                                                  14,915      13,431
From Loan Loss Provisions                                                    0          104
From Various Local Currency Operations                                      390       5,479
  TOTAL EXPENSES FROM LOCAL CURRENCY OPERATIONS                         245,029     189,214


                                                    TOTAL EXPENSES      307,250     239,691


  PROFIT (LOSS) FROM OPERATIONS DURING THE FISCAL PERIOD (99,902)                   (45,157)
Correction of Previous Fiscal Periods                                   (2,622)      25,996
Partial Application of Allowance for Other Contingencies                 65,412      19,161


Increase (Decrease) in Net W orth in the Semester                      (37,112)           0


  APPLICATION OF EQUITY INCREASE
General Reserve Fund                                                          0           0
Remainder to deliver to National Treasury                                     0           0
Allowance for Open Market Operations                                          0           0


                    TOTAL APPLICATION OF EQUITY INCREASE                      0           0



(*) Formerly called "Various Foreign Exchange Operations".
1_5_1

								
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