ANNUAL REPORT 2010

In 1996 the Bank changed its status from a commercial bank to a full-service bank to offer its
clients a comprehensive mix of products and services, many of them new, including in
particular medium and long-term financing options. That same year, with a view to increasing
the liquidity of the shares of Banco Mercantil and Consorcio Inversionista Mercantil and
expanding its presence to international markets, it established an
American Depositary Receipts (ADR) program. Today this program is
maintained through Mercantil Servicios Financieros, the Bank’s head
office, following the corporate transformation described below.
In 1997, in order to give the Institution a new corporate structure,
enhance its competitiveness and take advantage of the Venezuelan
financial sector’s opportunities for growth, Mercantil Servicios
Financieros was created and Banco Mercantil became its principal
subsidiary. This process was called the Corporate Transformation.
That year the Institution became the pioneer in Internet banking in
Venezuela when its website www.bancomercantil.com and its Mercantil
Online Banking service were launched.
Over the years Mercantil Banco Universal’s Internet banking service has
grown and new functionalities and types of transaction have gradually
been added. These include: payments with virtual cards (e-card) which
Mercantil pioneered in the market, payment of services, and transfers.
During 2000 Mercantil acquired Interbank, C.A. Banco Universal in a merger through which
Interbank was absorbed and Mercantil Banco Universal took over all of its assets, liabilities
and equity. With this process, Mercantil expanded its presence in Venezuela by incorporating
Interbank’s offices and large widespread nationwide network of banking centers.
In 2006 the Bank offered its credit cardholders a fully automated loan authorization system
through a parallel credit facility called Préstame Mercantil which facilitated access by the
general population to personal loans.
It developed a new brand strategy in 2007 and changed its name to Mercantil Banco Universal
under a new corporate identity.
In 2008 Mercantil Banco Universal launched majorities banking to offer products and services
in areas that lacked banking services. This network of service points is called Mercantil Aliado
and consists of facilities located in densely populated areas, starting in the Greater Caracas
area and gradually spreading to other parts of Venezuela.
Mercantil Servicios Financieros
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