Mercantil Servicios Financieros
 |
|
| Public (:MVZ.A, MVZ.B) | |
| Industry | Financial |
| Founded | (1997) |
| Headquarters | Caracas, Venezuela |
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Key people
|
Gustavo Vollmer Acedo Chairman and CEO |
| Products |
Banking Insurance Wealth Management |
| Total assets | Bs. 459,082 billion (June 2015) |
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Number of employees
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10,009 (June 2015) |
| Subsidiaries |
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| Website | www.msf.com |
Mercantil Servicios Financieros (Mercantil) is a Venezuelan holding company of financial services present in 9 countries in America and Europe . Its shares are listed on the Caracas Stock Exchange (MVZ.A and MVZ.B) and it maintains a Level 1 American Depositary Receipt program (ADR) in the over-the-counter market (OTC) in the United States of America (MSFZY and MSFJY3) .
The main subsidiary is Mercantil Banco, with 90 years of financial activity in Venezuela .
Mercantil has been ranked as one of the world´s biggest 2,000 public companies according to Forbes magazine´s (2015) at 648 place.The Banker magazine included Mercantil Servicios Financieros among the Top 1,000 world´s financial institutions, according to the list published in July 2015. Mercantil rose 50 places in comparison with 2014, to rank 210th.
The origin of Mercantil is in Venezuela, with the development of banking services through Banco Mercantil (actually Mercantil Banco), which began operations on March 23, 1925.
During the 1970s, the Consorcio Inversionista Mercantil y Agrícola (CIMA) was created with the objective to offer others financials services, meanwhile Banco Mercantil began its international expansion, with representative offices in several cities of the Americas and Europe. The Consorcio Inversionista Mercantil y Agrícola (CIMA) opens Banco Mercantil Venezolano, C.A. in Curaçao (1976) and Banco del Centro S.A. in Panama (1977), to expand its international operations. In 1987 acquired Commercebank, N.A. a financial institution headquartered in Florida, United States of America. In the middle of 90's, The Consorcio Inversionista Mercantil y Agrícola (CIMA) and Banco Mercantil initiate their “American Depositary Receipts" (ADRs) program in the United States of America for Class B shares.
In 1997 the shareholders of Banco Mercantil and the Consorcio Inversionista Mercantil y Agrícola (CIMA) constitute Mercantil Servicios Financieros (Mercantil) a financial services holding company headquartered in Venezuela. Today, Mercantil Servicios Financieros’ main subsidiaries are: Mercantil Banco Universal, Mercantil Seguros and Mercantil Merinvest in Venezuela; Mercantil Commercebank, N.A., Mercantil Commercebank Investment Services and Mercantil Commercebank Trust Company in the United States of America; Mercantil Bank (Panamá), Mercantil Seguros Panamá and Mercantil Capital Markets (Panamá) in Panama; Mercantil Bank (Schweiz) in Switzerland; Mercantil Bank (Curaçao) in Curaçao and Mercantil Inversiones y Valores in Venezuela, a holding for other support subsidiaries.
In early 2000, the Swiss Federal Banking Commission authorizes the incorporation of Banco Mercantil (Schweiz) AG as a Commercial Bank, formerly BMS Finanz AG, being the first Latin American-based bank to establish in Switzerland. In Venezuela, during the second half of 2000, Banco Mercantil signed the agreement to acquire InterBank BancoUniversal. The transaction was completed in the first quarter of 2001. At the same year, the subsidiary Seguros Mercantil acquired Seguros Orinoco.
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Wikipedia