Manuel Mérida Untitled, 1974 Acrylic on paper 42.5 x 55 cm
Financial Statements (In accordance with the standars of the National Securities Superintendency) Income Statement Unconsolidated (in thousands of Bs) Year Ended Income Financial Income Equity Investments in Subsidiaries Total Income Expenses Operating Financial Total Expenses Net Income Alejandro González Sosa Executive President Balance Sheet Unconsolidated (in thousands of Bs) Year Ended Assets Cash and Due from Banks Investment Portfolio Other Assets Total Assets Liabilities and Shareholders’ Equity Unsecured Bonds and Commercial Papers Other Liabilities Total Liabilities Shareholders’ Equity Total Liabilities and Shareholder’s Equity 2011 bolivars 26,638 2,509,518 2,536,156 (54,733) (9,255) (63,988) 2,472,168 Alfonso Figueredo Davis Global Chief Financial Officer 2010 bolivars 8,848 2,326,939 2,335,787 (115,699) (43,775) (159,474) 2,176,313 23 Mercantil Servicios Financieros 2009 bolivars 4,018 967,357 971,375 (132,360) (43,323) (175,683) 795,692 Isabel Pérez Sanchis Corporate Comptroller 2011 bolivars 65,298 11,113,256 (23,280) 11,155,274 0 178,114 178,114 10,977,160 11,155,274 2010 bolivars 56,577 8,877,607 (21,678) 8,912,506 80,000 319,206 399,206 8,513,300 8,912,506 Gustavo Vollmer A. President 2009 bolivars 7,682 5,229,544 36,751 5,273,977 326,009 68,158 394,167 4,879,810 5,273,977
- Page 1 and 2: AnnualReport 2011
- Page 3 and 4: AnnualReport 2 0 1 1 CONTENTS Merca
- Page 5 and 6: Mercantil is Venezuela’s in equit
- Page 7 and 8: Financial Highligths Earnings Conso
- Page 9 and 10: Notice of Ordinary General Sharehol
- Page 11 and 12: * Dollar figures are given for refe
- Page 13 and 14: The Stock Repurchase Program initia
- Page 15 and 16: Inflation closed at 6.9% (6.5% in 2
- Page 17 and 18: Mercantil Personal and Commercial O
- Page 19 and 20: It also launched the Gold and Plati
- Page 21 and 22: Special mention should be made of M
- Page 23: Statutory Auditors’ Report ��
- Page 27 and 28: Consolidated Balance Sheet (In thou
- Page 30 and 31: Fernando Irazábal Bestia 10, aroun
- Page 32 and 33: Latin America During 2011 the regio
- Page 34 and 35: Francisco Hung Materias flotantes,
- Page 36 and 37: In the insurance business in Venezu
- Page 38 and 39: Investments Portfolio by Issuer Bs
- Page 40 and 41: Loan Portfolio by Business Segment
- Page 42 and 43: Deposits by Business Segment Bs 81,
- Page 44 and 45: Loan Portfolio Evolution Million Bo
- Page 46 and 47: Operating Expenses Net Income Year
- Page 48 and 49: Summary of the Accounting Principle
- Page 50 and 51: Humberto Jaimes Sánchez Exterior 1
- Page 52 and 53: Personal Banking Deposits Year 2011
- Page 54 and 55: At the close of 2011, Commercial Ba
- Page 56 and 57: Corporate Banking During 2011, the
- Page 58 and 59: Corporate Products The Deposit Prod
- Page 60 and 61: In the Venezuelan money market, the
- Page 62 and 63: Portfolio of Investments Available
- Page 64 and 65: Private Banking and Wealth Manageme
- Page 66 and 67: José Ramón Sánchez Las tres aleg
- Page 68 and 69: In 2011, options or service functio
- Page 70 and 71: Alberto Brandt Untitled, around 195
- Page 72 and 73: Harry Abend Relieve, 1964 Bronze 1/
- Page 74 and 75:
Credit Risk Breakdown of Credit Ris
- Page 76 and 77:
Market Risk A financial institution
- Page 78 and 79:
Price Risk Positions of Interest Ra
- Page 80 and 81:
Maruja Rolando Untitled, 1960 Oil o
- Page 82 and 83:
(1) Dollar figures are given for re
- Page 84 and 85:
Mercantil Commercebank Florida BanC
- Page 86 and 87:
Other subsidiaries of Mercantil Ser
- Page 88 and 89:
Humberto Jaimes Sánchez Stage of b
- Page 91 and 92:
Prevention and Control of Money Lau
- Page 93 and 94:
Evaluation Special PCLC/FT - AML/TF
- Page 96 and 97:
94 Annual Report 2011
- Page 98 and 99:
Social Development and Healthcare P
- Page 100 and 101:
Elsa Gramcko R-32, 1960 Acrylic, go
- Page 102 and 103:
Another very significant aspect of
- Page 104 and 105:
Board of Directors’ Compensation
- Page 106 and 107:
Internal Audit Manager In accordanc
- Page 108 and 109:
Ángel Hurtado Noche transfigurada.
- Page 110 and 111:
Awards and Acknowledgements The wor
- Page 112 and 113:
Alberto Brandt Fantasía, undated O
- Page 114 and 115:
Víctor J. Sierra A. Member of the
- Page 116 and 117:
Nerio Rosales Rengifo Member of the
- Page 118:
Alberto Benshimol M. Manager of Ins
- Page 121 and 122:
MERCANTIL, C.A. BANCO UNIVERSAL Ave
- Page 123 and 124:
I n f o r m a l i s m i n V e n e z
- Page 125 and 126:
Carlos Sosa (Caracas, 1950) Sosa is
- Page 127 and 128:
Manuel Mérida (Carabobo, 1939) Pai
- Page 129 and 130:
Alberto Brandt Untitled, around 195
- Page 131:
Avenida Andrés Bello Nº 1, Edific
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