Mercantil Banco is a financial institution with more than 90 years of banking activity in Venezuela and is a subsidiary of Mercantil Servicios Financieros.[1]
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| Company type | Banking |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1925 |
| Headquarters | Caracas, Venezuela |
Key people | Gustavo Vollmer Acedo (Chairman) & Nelson Pinto Alves (CEO) |
| Products | Retail banking |
Number of employees | 4,000 |
| Website | mercantilbanco |
History
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On 23 March 1925 a group of 98 Venezuelan businessmen founded the bank with the name of "Banco Neerlando Venezolano" in an economy determined by the agricultural activity being the major component of national income (coffee, cacao and cotton). The Bank began its operations on 3 April 1925.[2]
In 1968, it became the official representative of Diners Club in Venezuela. Since the 1970s the bank achieved the opening of subsidiaries in Brazil, Canada, Colombia, Curaçao, Germany, Mexico, Panama, Peru, Switzerland, United Kingdom and United States.
In 1982, the Mercantil Tower skyscraper was built as the new bank headquarter's. In 1994, it was not really affected by the economic crisis in Venezuela. In 2000, Mercantil bought a lot of financial and insurance institutions as Interbank, Venezolana Entidad de Ahorro y Préstamo, Banco Monagas, Seguros Orinoco, among others. At the end of 2007, Mercantil controlled 12.29% of the banking market share in Venezuela, just behind Banesco.[3]
References
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- ^ Mercantil Servicios Financieros (in Spanish). December 2015 http://www.msf.com/espanol/inversionistas/historicos/banco_mercantil/informes_anuales/esp/mbu_informe_anual_2015.pdf. Retrieved 26 May 2020.
{{cite web}}: Missing or empty|title=(help) - ^ "History". Mercantil Servicios Financieros. December 2015. Archived from the original on 6 August 2020. Retrieved 19 November 2020.
- ^ "Sistema banca comercial y universal". Banca y Negocios (in Spanish). 21 December 2007. Archived from the original on 29 January 2009. Retrieved 5 January 2009.