ANNUAL REPORT 2010

Business Management Report
Commercial and Personal Banking
Deposits
Year 2010
Individuals 69%
Companies 31%
Commercial and Personal Banking
Loans
Year 2010
Individuals 36%
Companies 64%
Commercial and Personal Banking
Through Commercial and Personal Banking,
in 2010 Mercantil continued with its effort to design and implement new products and
services to meet the financial needs of its clients, both in the Venezuelan market with
Mercantil, C.A. Banco Universal, and in the international market, highlighting the presence of
Mercantil Commercebank in the United States where both international and local clients are
served, particularly in South Florida.
At the close of 2010, Commercial and Personal Banking accounted for 78% of Mercantil
Servicios Financieros' total deposits which amounted Bs 48,931 million (US$ 11,408 million).
In the United States, deposits underwent sustained growth, reaching US$ 4,292 million
(Bs 18,409 million) at the close of 2010 and accounted for 91% of Mercantil Commercebank’s
total deposits. In Venezuela growth was 29%, or Bs 30,522 million (US$ 7,116 million).
At the end of 2010, the loan portfolio of Commercial and Personal Banking at Mercantil
Servicios Financieros was Bs 31,973 million (US$ 7,454 million), which represents 72% of the
total, with 35% growth of the loan portfolio in Venezuela. The loan portfolio of Commercial
and Personal Banking in the United States accounts for 51% of Mercantil Commercebank’s
total loans.
Mercantil Servicios Financieros, through Personal Banking, reached Bs 33,839 million
(US$ 7,889 million) in total deposits at the close of 2010, with 52% growth. Personal Banking
loans totaled Bs 11,486 million (US$ 2,678 million), 43% growth compared to 2009.
In Venezuela this growth in Personal Banking can mainly be attributed to two initiatives: a new
24-month financing program is aimed at attending to the needs of our clients, and particularly
of the medical sector, for working capital, and greater incentives to use the Credit Card
product and its parallel lines through different promotions.
During 2010 Personal Banking in Venezuela continued with its object to include the unbanked
sector of the population through the Majorities segment, extending its Mercantil Aliado
network to a total of 46 correspondent trading desks and 94 trading points offering a variety
of services. The trading desks also offer specialized products such as the Tarjeta Efectivo cash
card, Credisan Mercantil and Microcredits for entrepreneurs, thereby consolidating its
relationship with the communities.
Mercantil Servicios Financieros
45