ANNUAL REPORT 2010
ANNUAL REPORT 2010
ANNUAL REPORT 2010
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Consolidated Balance Sheet<br />
(In thousands of Bs and millons of US$)<br />
Year Ended<br />
Liabilities and Shareholders’ Equity<br />
Deposits<br />
Non-Interest Bearing Checking Accounts<br />
Interest Bearing Cheking Accounts<br />
Saving Deposits<br />
Time Deposits<br />
Debt Authorized by the<br />
National Securities Commission<br />
Publicly Offered<br />
Debt Securities<br />
(1) Dollar figures are given for reference purposes only and are converted at the exchange rate at the end of the period (Bs 4.2893/US$). Exchange control has been in place in Venezuela since February<br />
2003.<br />
Alejandro González<br />
Executive President<br />
Liabilities<br />
Financial Liabilities<br />
Obligations with Banks and Savings and Loan Institutions<br />
In Venezuela up to one year<br />
In Venezuela for more than one year<br />
Abroad up to one year<br />
Abroad for more than one year<br />
Financial liabilities indexed to Securities<br />
Liabilities Under Repurchase Agreements<br />
Other Liabilities up to one year<br />
Other Liabilities for more than one year<br />
Interest and Commissions Payable<br />
Other Liabilities<br />
Subordinated Debt<br />
Total Liabilities<br />
Minority Interest in Consolidated Subsidiaries<br />
Shareholders’ Equity<br />
Capital<br />
Paid-Up Capital<br />
Maintenance of Paid-In Capital<br />
Premium for Issuing Stock<br />
Capital Reserves<br />
Adjustment for Conversion of Net Assets<br />
by Subsidiaries Abroad<br />
Retained Earnings<br />
Shares Repurchased and Held by Subsidiaries<br />
Repurchased shares restricted<br />
for employees´ stock option plan<br />
Unrealized Gain from Adjustment at<br />
Market Value of Investments<br />
Total Shareholders’ Equity<br />
Total Liabilities and Shareholders’ Equity<br />
<strong>2010</strong><br />
US$ (1)<br />
Alfonso Figueredo Davis<br />
Global Chief Financial Officer<br />
3,782<br />
4,646<br />
4,664<br />
1,448<br />
14,540<br />
16<br />
16<br />
59<br />
33<br />
128<br />
302<br />
-<br />
202<br />
6<br />
-<br />
730<br />
7<br />
1.117<br />
112<br />
16,522<br />
Mercantil Servicios Financieros<br />
25<br />
1<br />
36<br />
45<br />
47<br />
39<br />
361<br />
1,381<br />
(4)<br />
(10)<br />
89<br />
1,985<br />
18,507<br />
<strong>2010</strong><br />
bolivars<br />
16,222,179<br />
19,929,002<br />
20,004,694<br />
6,211,038<br />
62,366,913<br />
67,043<br />
67,043<br />
252,874<br />
140,000<br />
548,552<br />
1,296,441<br />
-<br />
866,439<br />
27,201<br />
2,120<br />
3,133,627<br />
29,475<br />
4,789,814<br />
478,591<br />
70,865,463<br />
4,199<br />
154,406<br />
191,709<br />
203,536<br />
166,715<br />
1,550,096<br />
5,922,273<br />
(16,182)<br />
(41,569)<br />
382,316<br />
8,513,300<br />
79,382,962<br />
2009<br />
bolivars<br />
10,398,275<br />
12,232,187<br />
13,902,051<br />
6,315,191<br />
42,847,704<br />
312,394<br />
312,394<br />
120,319<br />
-<br />
456<br />
432,673<br />
364,146<br />
722,730<br />
22,999<br />
2,137<br />
1,665,460<br />
27,138<br />
3,094,804<br />
244,656<br />
48,192,156<br />
2,844<br />
155,976<br />
191,709<br />
203,894<br />
166,715<br />
280,144<br />
3,922,188<br />
(29,319)<br />
(37,820)<br />
26,323<br />
4,879,810<br />
53,074,810<br />
Isabel Pérez Sanchis<br />
Corporate Comptroller<br />
2008<br />
bolivars<br />
7,789,967<br />
9,642,957<br />
11,427,879<br />
7,350,564<br />
36,211,367<br />
173,922<br />
173,922<br />
112,502<br />
-<br />
2,649<br />
325,443<br />
1,870,860<br />
776,345<br />
61,256<br />
2,904<br />
3,151,959<br />
37,751<br />
2,918,561<br />
244,656<br />
42,738,216<br />
2,621<br />
155,976<br />
191,709<br />
201,279<br />
166,715<br />
279,497<br />
3,273,354<br />
(16,515)<br />
(32,472)<br />
(130,503)<br />
4,089,040<br />
46,829,877<br />
2007<br />
bolivars<br />
6,644,492<br />
8,188,269<br />
8,777,472<br />
7,677,380<br />
31,287,613<br />
356,144<br />
356,144<br />
161,279<br />
72,000<br />
64,597<br />
80,081<br />
588,320<br />
681,983<br />
115,049<br />
3,488<br />
1,766,797<br />
47,771<br />
1,936,796<br />
244,656<br />
35,639,777<br />
2,161<br />
156,479<br />
191,709<br />
201,668<br />
166,715<br />
273,672<br />
2,447,230<br />
(12,900)<br />
(29,127)<br />
12,168<br />
3,407,614<br />
39,049,552<br />
Gustavo A. Marturet<br />
President<br />
2006<br />
bolivars<br />
5,128,745<br />
6,221,425<br />
7,160,491<br />
6,736,211<br />
25,246,872<br />
259,087<br />
259,087<br />
267,726<br />
100,000<br />
163,367<br />
83,711<br />
395,286<br />
581,313<br />
140,046<br />
5,168<br />
1,736,617<br />
37,130<br />
1,576,382<br />
268,247<br />
29,124,335<br />
3,209<br />
107,717<br />
191,709<br />
52,304<br />
166,715<br />
267,820<br />
1,823,396<br />
(13,950)<br />
(25,170)<br />
18,882<br />
2,589,423<br />
31,716,967
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