ANNUAL REPORT 2010

85th Anniversary
During the second half of the year several events were held in connection with the 85th
anniversary of Mercantil Banco’s foundation. For example, on October 24 Espacio Mercantil
was inaugurated in the Altamira district of Caracas. This is a space devoted entirely to art and
culture with a view to reaching out to the community.
Espacio Mercantil will organize a program of exhibitions and events, including talks, meet-ups
and guided visits, specially designed to allow the public to view Colección Mercantil, a collection
of works of art by different Venezuelan artists from the 18th century to the present day.
Through this initiative Mercantil ratifies its reiterated vocation to reach out to the community
through the dissemination of Venezuelan art.
Also within the framework of its anniversary celebrations, on November 14 Mercantil’s
employees participated on a massive scale in the Mercantil 2010 walk and on December 10 an
event was held to present lapel pins to staff with 15, 20, 25, 30 and 35 years of service.
Prevention and Control of Money Laundering
Money laundering prevention and control is a priority for Mercantil and is part of our
organizational culture. The Company has maintained the internal control and monitoring
standards necessary to ensure early detection of money laundering operations in each of the
activities of its subsidiaries and has stepped up staff training in this area.
To ensure compliance with anti-money laundering legislation, Mercantil has a
“Comprehensive Money Laundering Prevention and Control System” both in Venezuela and
at its foreign subsidiaries, as well as Operational and Follow-Up plans, and Monitoring and
Oversight plans. It systematically applies its “Know your Customer” policy which is the pivotal
point of its anti-money laundering program.
Corporate Social Responsibility
Mercantil has always fostered, promoted and supported social development programs.
Mercantil’s social investment, in 2010 was Bs 8.2 million, channeled mainly through Fundación
Mercantil and its subsidiaries in Venezuela and the United States.
Mercantil earmarked 52% of the contributions in this area for educational institutions and
48% for social development, healthcare, cultural and religious institutions.
In 2010, Mercantil accentuated its support for primary education in Venezuela through its
“Give your School a Helping Hand” program which has been going strong for more than 27
years, as well as a new program undertaken with the Fe y Alegría institution to strengthen
the physical infrastructure of schools in Monagas, Bolívar and Anzoátegui states.
Mercantil also supports Higher Education through its contributions to various universities:
Católica Andrés Bello, Simón Bolívar, Carabobo, Metropolitana, Monteávila, Central de Venezuela
and Zulia.
Mercantil Servicios Financieros
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