ANNUAL REPORT 2010

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Awards and Acknowledgements During 2010 Mercantil Servicios Financieros and its subsidiaries were acknowledged for their performance by various prestigious institutions and publications at home and abroad. Mercantil Servicios Financieros • In April Forbes Magazine once again rated Mercantil Servicios Financieros one of the world’s Top 2000 companies. This time at number 1,297. It was the only Venezuelan company in the financial sector on the list, climbing 36 positions since 2009. • Following a survey conducted by The Banker magazine the July edition ranked Mercantil Servicios Financieros Venezuela’s leading financial institution on its list of the Top 1000 World Banks. Mercantil Servicios Financieros ranked number 291 in the survey, and the tenth leading financial services company in Latin America. Mercantil Banco Universal • In the Great Place to Work Institute’s fifth survey of Mercantil Banco Universal, conducted in April, it rated the Bank among the 15 best companies to work for in Venezuela and at number 10 on the ranking. It is the only financial institution to have won this recognition for the fifth successive year. • In October the maintenance and renewal audit for Mercantil Banco Universal’s ISO 9001:2008 certifications conducted by the Venezuelan Standardization and Quality Certification Institute, Fondonorma, concluded with zero non-conformities, certifying Mercantil’s 100% compliance with the standards. Of the 9 lines evaluated, the Call Center (CAM) certification was renewed and maintenance was conducted on the other 8 lines: Teller Line; Online Banking, ATM Network, Corporate Client Securities, Credit Card application, printing and distribution, Home Delivery of Check Books, Préstame (Instant Loan) and the Management and Employee Benefit Trust Funds. • In November Latin Finance magazine awarded Mercantil Banco Universal its prize for Best Bank in Venezuela in 2010. The above-mentioned edition of the magazine stressed the fact that Mercantil Banco Universal’s loan portfolio has registered 36.6% interannual growth in a year of special circumstances for the Venezuelan government. It also pointed out that Mercantil is striving hard to make its services available to the broader population through Mercantil Aliado which is part of the Majorities Banking segment. According to Latin Finance Mercantil Banco Universal is the first bank to incorporate chip technology in its ATMs and credit and debit cards. Annual Report 2010 100
Mercantil Commercebank • In March, for the second year running Mercantil Commercebank received the Top 100 Minority Business Award® from the Greater Miami Chamber of Commerce (GMCC). In 2010 the bank was recognized in the Community Involvement category. Mercantil Seguros • In April the Great Place to Work Institute’s fifth survey rated Mercantil Seguros as one of the 15 best companies to work for in Venezuela. It is the third time it has achieved this distinction and, at number nine, the only insurance company on the list. Mercantil Servicios Financieros 101
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ANNUAL REPORT 2010
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ANNUAL REPORT 2010 CONTENTS Mercant
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Mercantil is Venezuela’s leading
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Earnings Consolidated Balance Sheet
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Notice of Ordinary General Sharehol
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* Dollar figures are given for refe
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* Dollar figures are given for refe
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Adjustments to Reporting Lines At a
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Venezuela The Venezuelan economy co
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85th Anniversary During the second
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Special mention should be made of M
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Statutory Auditors’ Report To the
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Financial Statements (In accordance
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Consolidated Balance Sheet (In thou
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César PRIETO Calle caraqueña, aro
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Economic Climate Mercantil Servicio
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Summary of Economic Performance 200
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Mission To fulfill the needs of ind
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Management Discussion and Analysis
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Loan Portfolio by Business Segment
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Financial Margin Year Ended (In tho
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Distribution of Total Income Bs 7,4
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Summary of the Accounting Principle
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Business Management Report Commerci
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Commercial Banking Deposits Year 20
Page 51 and 52: Corporate Banking During 2010, the
Page 53 and 54: This made the team more consolidate
Page 55 and 56: In Venezuela, Mercantil Servicios d
Page 57 and 58: Excess Liquidity and Interbank Mark
Page 59 and 60: Available for Sale and Held to matu
Page 61 and 62: Quality of Service and Operating Ef
Page 63 and 64: Manuel CABRÉ Ávila desde San Bern
Page 65 and 66: Human Resources Many of the activit
Page 67 and 68: Risk Management Good risk managemen
Page 69 and 70: Distribution of Mercantil's loan po
Page 71 and 72: Trading in fixed-income securities
Page 73 and 74: Operational risk management in non-
Page 75 and 76: Performance of Subsidiaries Equity
Page 77 and 78: (1) Obtained from dividing sharehol
Page 79 and 80: Mercantil Commercebank Florida Banc
Page 81 and 82: Mercantil Merinvest, C.A. Consolida
Page 83 and 84: Credit Ratings Mercantil Servicios
Page 85 and 86: Prevention and Control of Money Lau
Page 87 and 88: * Prevention and Control of Money L
Page 89 and 90: Mercantil’s Social Contributions
Page 91 and 92: Pedro Ángel GONZÁLEZ Paisaje de G
Page 93 and 94: Corporate Governance Mercantil Serv
Page 95 and 96: Board of Directors The Board of Dir
Page 97 and 98: Executive Committee Mercantil has a
Page 99 and 100: Pedro Ángel GONZÁLEZ Comenzando l
Page 101: Report of the Board of Directors of
Page 105 and 106: Mercantil Banco Universal: 85 years
Page 107 and 108: In 1996 the Bank changed its status
Page 109 and 110: Mercantil’s principles and values
Page 111 and 112: Board of Directors Directors Gustav
Page 113 and 114: Gustavo Galdo C. President of Inver
Page 115 and 116: Executive Committee Gustavo Antonio
Page 117 and 118: MERCANTIL, C.A., BANCO UNIVERSAL Av
Page 119 and 120: T h e F i n e A r t s S o c i e t y
Page 121 and 122: Alberto EGEA LÓPEZ Ávila, hacia 1
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ANNUAL REPORT 2010

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