 | |
| 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 |
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]
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]
Grupo Financiero Banorte, S.A.B. de C.V., doing business as Banorte and as Ixe, is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator.
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Mercantil Servicios Financieros (Mercantil) is a Venezuelan holding company of financial services present in 9 countries in America and Europe. Its shares are listed on the Caracas Stock Exchange and it maintains a Level 1 American Depositary Receipt program (ADR) in the over-the-counter market (OTC) in the United States of America .
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