ANNUAL REPORT 2010

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Tomás GOLDING Marina, 1939 Oil on masonite 36.3 x 40.3 cm
T h e F i n e A r t s S o c i e t y a n d t h e E s c u e l a d e C a r a c a s Early in the twentieth century, landscape painting in Venezuela was introduced as a genre that has remained a cherished part of Venezuela’s artistic progression to this day. It was in Caracas, in 1912, where the Fine Arts Society was born– a cultural movement that challenged the Academy of Fine Arts and the obsolete teachings it imparted. The group included several young artists who revitalized the national art scene through their innovative study of nature, eventually leaving behind a great legacy of art, beauty and life. This creative spirit was amplified by the Escuela de Caracas, driven by the artists who formed the Society and their followers. These pioneering artists secured the continuity of landscape painting in Venezuela for five decades. The selections included here offer a window into this tradition, featuring exemplary works of this genre that are part of the Mercantil Collection.
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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
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Corporate Banking During 2010, the
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This made the team more consolidate
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In Venezuela, Mercantil Servicios d
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Excess Liquidity and Interbank Mark
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Available for Sale and Held to matu
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Quality of Service and Operating Ef
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Manuel CABRÉ Ávila desde San Bern
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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 and 102: Report of the Board of Directors of
Page 103 and 104: Mercantil Commercebank • In March
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: MERCANTIL, C.A., BANCO UNIVERSAL Av
Page 121 and 122: Alberto EGEA LÓPEZ Ávila, hacia 1
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ANNUAL REPORT 2010

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