ANNUAL REPORT 2010

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Pedro Ángel GONZÁLEZ Paisaje, 1919 Oil on cardboard 18.5 x 28.9 cm Santa Ana, State of Nueva Esparta, 1901 - Caracas, 1981 In 1916, González moved to Caracas to study at the Academy of Fine Arts. In 1921, he met members of the Fine Arts Society. In 1936, he served as professor in the Caracas Academy of Fine and Applied Arts, where he established the Graphic Arts Studio and directed it for sixteen years. Later, between 1959 and 1960, he directed the Cristóbal Rojas Applied Arts Academy and was named Honorary President of the Graphic Arts Studio. His landscape works are numerous, with an emphasis on wide open spaces.
Mercantil’s Social Contributions Year 2010 Education 52% Social Welfare 27% Culture 6% Health 8% Religious Institutions 7% Social Commitment Since Mercantil was founded 85 years ago, it has fostered, promoted and supported social development programs. One of its corporate values is “to be an integral institution and an important factor in the development of the communities in which it operates.” Mercantil Servicios Financieros' social investment in 2010 totaled Bs 8.2 million, channeled mainly through Fundación Mercantil and its subsidiaries in Venezuela and the United States. This sum includes Bs 750,000 in contributions under the Science and Technology Act to support the research and development projects of Venezuelan Institutions on new technologies. Mercantil earmarked 52% of the contributions in this area for educational institutions and 48% for social development, healthcare, religious and cultural institutions. Education 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. In conjunction with the Foundation for Educational Buildings (FEDE - for its abbreviation in Spanish) under the Ministry of Education, schools in Trujillo, Portuguesa, Miranda, Carabobo and Guárico states were refurbished. A new program was also implemented with the Fe y Alegría institution to strengthen the physical infrastructure of schools in Monagas, Bolívar and Anzoátegui states. Donations were made to the following universities in 2010: Católica Andrés Bello, Simón Bolívar, Carabobo, Metropolitana, Monteávila, Central de Venezuela and Zulia. Their purpose was to support student development and training activities and scholarship programs. Social Development and Healthcare Programs Mercantil supports various projects and initiatives by organizations that work directly with children, youths and senior people in need. Their purpose is to help the population from different areas of society and specifically through scholarship programs to give young people access to work training activities; through nutritional care programs; children’s programs and programs that provide equipment for people with physical or intellectual disabilities. The main beneficiary institutions include: United Nations Children’s Fund (UNICEF), Mother Teresa of Calcutta Comedores Madre Teresa de Calcuta (COMATEC); Asociación Venezolana para el Síndrome de Down; Federación de Instituciones Privadas de Atención al Niño, al Joven y a la Familia (FIPAN); Fundana; Asociación Provida; Sovenia; Asociación Civil Buena Voluntad; Hogar Vida Nueva; Centro al Servicio de la Acción Popular (CESAP); Centro El Portal, Alianza para una Venezuela sin Drogas and Damas Salesianas. Mercantil’s commitment to health is reflected in the specialized medical and hospital programs it supports. These help children, young people and adults in need, including the Friends of Children with Cancer Foundation; Fundación Cardioamigos; Hospital Ortopédico Infantil; Hospital San Juan de Dios; Fundahígado; Acción Solidaria; and Salud y Familia. Mercantil Servicios Financieros 87
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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
Page 37 and 38: Management Discussion and Analysis
Page 39 and 40: Loan Portfolio by Business Segment
Page 41 and 42: Financial Margin Year Ended (In tho
Page 43 and 44: Distribution of Total Income Bs 7,4
Page 45 and 46: Summary of the Accounting Principle
Page 47 and 48: Business Management Report Commerci
Page 49 and 50: Commercial Banking Deposits Year 20
Page 51 and 52: Corporate Banking During 2010, the
Page 53 and 54: This made the team more consolidate
Page 55 and 56: In Venezuela, Mercantil Servicios d
Page 57 and 58: Excess Liquidity and Interbank Mark
Page 59 and 60: Available for Sale and Held to matu
Page 61 and 62: Quality of Service and Operating Ef
Page 63 and 64: Manuel CABRÉ Ávila desde San Bern
Page 65 and 66: 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: * Prevention and Control of Money L
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 and 118: MERCANTIL, C.A., BANCO UNIVERSAL Av
Page 119 and 120: T h e F i n e A r t s S o c i e t y
Page 121 and 122: Alberto EGEA LÓPEZ Ávila, hacia 1
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ANNUAL REPORT 2010

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