On march 23 a group of 98 Venezuelan businessmen founded the bank with the name of "Banco Neerlando Venezolano" in an economy determined by the agricultural activity being the major component of national income (coffee, cacao and cotton) The Bank began its operations on April 3, 1925.
Bank changes its name and becomes Banco Mercantil y Agrícola.
Banco Mercantil y Agrícola issues paper money which circulated as legal tender of ten (10), twenty (20) and a hundred (100) Bolivars. Banco Mercantil y Agrícola decides to encourage agricultural activity by lending to rural producers.
First steps toward geographical expansion (Valencia branch opening), becoming the first branch outside Caracas.
Banco Mercantil y Agrícola listed its shares on the Caracas Stock Exchange. Services diversification begins: vehicle-loans; pioneers in electronic data processing systems in the Venezuelan financial system.
Banco Mercantil y Agrícola decides to partner with Chase Manhattan Bank, N.A., which acquires a 49% stake in the bank.
Change in Venezuelan legislation, Chase Manhattan Bank sells part of its stake keeping a 20% participation. The remaining 80% of the Banco Mercantil y Agrícola's equity was Venezuelan owned.
Consorcio Inversionista Mercantil y Agrícola is founded as a sister company of Banco Mercantil y Agrícola (with stapled shares) to offer clients financial services different than the traditional in commercial banking. With the incorporation of the first Statutory Social Benefits Trust Fund Agreement (for the oil sector severance), Banco Mercantil y Agrícola becomes pioneer in the sector in Venezuela.
International expansion: London, New York and Frankfurt Representative Offices. Consorcio Inversionista Mercantil y Agrícola opens Banco Mercantil Venezolano C.A. in Curacao.
Incorporation of Union of Banco Mercantil y Agrícola workers and signing of first collective bargaining contract.
The Consorcio Inversionista Mercantil y Agrícola opens Banco del Centro S.A. in Panama (1977) to complement its international operations and growth.
Chase Manhattan Bank sells its remaining shares and Banco Mercantil y Agrícola becomes a fully owned Venezuelan institution.
Bank continues its international expansion and establishes a branch in Panama and opens in Latin America representative offices in Bogota and Lima.
Bank changes its name to Banco Mercantil. Continuing with the International expansion: new branch in Curacao and Representative Offices in Sao Paulo and Quito. Expands its portfolio of services and begins offering innovative financing programs that include personal loans, consumer loans and a series of various credit facilities. Partnership with Diners Club to manage exclusively the credit card franchise in Venezuela.
Banco Mercantil becomes a leader in electronic services in Venezuela with its ATM’s. Creates Fundación Banco Mercantil with the objective of developing solidarity and support to the community. Consorcio Inversionista Mercantil y Agrícola acquires Credimático the company operating MasterCard® and Visa® credit card franchises. It also acquires Commercebank, N.A. a financial institution headquartered in Florida, U.S.
Banco Mercantil reaches a network of 106 branches and becomes a national leader in banking services, being among the top three Venezuelan private banks with the strongest national and international presence.
The Bank launches the Visa Mercantil credit card, which in addition to MasterCard and Diners becomes a leader in the credit card business, making it the only bank to hold franchises for 3 out of the 4 credit cards in the Venezuelan market. The Bank opens the representative office in Mexico City and acquires Banco de los Trabajadores de Colombia which later became Banco Mercantil de Colombia.
Consorcio Inversionista Mercantil y Agrícola and Banco Mercantil initiate the American Depositary Receipt (ADR) program in the U.S. for its "B" shares. Banco Mercantil changes its status of Commercial Bank becoming a Universal Bank through the merger with Banco de Inversión Mercantil, Banco Hipotecario Mercantil, Arrendadora Mercantil and Fondo Mercantil.
Incorporation of the holding company Mercantil Servicios Financieros (MERCANTIL), which acquires 98.25% of Banco Mercantil's and Consorcio Inversionista Mercantil y Agrícola's shares. Banco Mercantil became MERCANTILs' main subsidiary in addition to Commercebank N.A. in the US; Banco Mercantil Venezolano in Curacao, Banco del Centro in Panama; BMC Bank and Trust Limited in Cayman Island, BMS Finanz AG in Switzerland; Merinvest Sociedad de Corretaje, Mercantil Seguros and Mercantil Inversiones y Valores in Venezuela. JPMorgan Global Capital Limited acquires Banco & Banco Mercantil y Agrícola´s common B shares, that later represented approximately 9,9% of MERCANTIL's common shares. MERCANTIL's shares were registered at the National Securities Commission and listed on the Caracas Stock Exchange. Banco Mercantil launches its webpage and its Mercantil Online Banking service, becoming a pioneer of online banking in Venezuela.
MERCANTIL, through its subsidiary Banco Mercantil, acquires Interbank Banco Universal. The Swiss Federal Banking Commission authorizes the incorporation of Banco Mercantil (Schweiz) AG as a Commercial Bank, formerly BMS Finanz AG operating since 1988. Banco Mercantil de Colombia's assets are sold. MERCANTIL acquires a 4.85% stake in BanColombia. MERCANTIL launches TODO1 platform in association with BanColombia, Conavi, Banco de Pichincha, McKinsey and JPMorgan offering internet financial and non-financial products and services to their clients.
Mercantil, through its subsidiary Seguros Mercantil, acquires Seguros Orinoco positioning as the third largest insurance company in Venezuela.
Commercebank, N.A. implements a wholly owned broker-dealer subsidiary, Mercantil Commercebank Investment Services, Inc. to offer customers investment services.
MERCANTIL's Management Structure is modified, specifically at the level of the Executive Committees' organization of MERCANTIL, Banco Mercantil, Commercebank, N.A and the Board of Directors of Commercebank Holding, including the implementation of a corporate global management structure. Additionally, a new Global Risk Management Unit is created. Commercebank, N.A. implements its subsidiary la subsidiaria Commercebank Trust Services to offer trust services. Seguros Mercantil launched the innovative international coverage healthcare policy called Mercantil Global Benefits.
MERCANTIL sold its stockholding in Bancolombia. This stockholding corresponds to approximately 4.4% of the Colombian financial institution. Commercebank opens its first full-service banking center in Houston, Texas.
MERCANTIL, through its subsidiary Commercebank N.A., acquires Florida Savings Bank, a financial institution operating in South Florida since 1999 with assets of US$ 136 millions as of December 2005. MERCANTIL incorporates Class A Shares into American Depositary Receipt Program (ADR).
MERCANTIL aligns the Corporate Identities of all its Subsidiaries under the brand name Mercantil. Banco del Centro S.A received a general license from Panamanian authorities, allowing the Bank to participate in the local market.
Mercantil Banco Universal launched Mercantil Aliado, a network of convenient and selfstanding point of attention to offer banking services and innovative products tailored to the Majorities segment in high population areas across the country.
Mercantil Banco Universal introduced a new Llave Mercantil smart debit card with an inbuilt Chip to protect transactions throughout the network of Smart ATMs incorporating an innovative chip technology to provide added security to customers’ transactions. The bank is the first in Venezuela to offer this internationally certified technology.
On the occasion of Mercantil Banco Universal eighty-fifth anniversary celebration, the Espacio Mercantil was opened. A place dedicated to art and culture with the aim of expanding ties with the Venezuelan community.
Mercantil Banco Universal concludes the incorporation process of the Chip technology in all its credit and debit cards, ATMs and points of sale network. Mercantil Banco Universal is the first institution of the Venezuelan financial system to implement this valuable security mechanism for its customers.
Mercantil Banco Universal starts the installation of new self-service areas "Fast Track facility", continuing with the strategy in favor of diverting transactions to different channels and self-management. Introduces the Mercantil Móvil service, which provides customers access to online banking from smartphones. Mercantil Commercebank expands its presence in the city of Houston, Texas with the opening of a new branch. Mercantil Bank (Schweiz) refocused its activities to offering private banking products and services.
Mercantil Capital Markets (Panamá), a subsidiary of Mercantil Merinvest C.A, initiated operations offering to its customers investment and financing alternatives with innovative products and services. Mercantil launched its presence on social media through its primary Twitter account, @MercantilBanco. Later, four official Twitter accounts were created for its subsidiaries: Mercantil Seguros - @MercantilSeg, Mercantil Merinvest - @MMerinvest, and Mercantil Commercebank - @MercantilCB (English) and @MercantilCBesp (Spanish). In addition to an official Mercantil Banco account on YouTube.
MERCANTIL continuing with its international expansion strategy extended its insurance products to the Panamanian market through Mercantil Seguros Panamá to offer insurance products and services both locally and internationally.
Mercantil Banco Universal launched the new app Mercantil Business Mobile, in conjunction with Mercantil Personal Mobile service, which provide to business and personal clients access to the mobile technology in any moment and place. The main added value of Mercantil Business Mobile is that customers may apply for “Pronto Crédito Empresarial” (Corporate Fast Loans) to obtain funds in a secure and prompt way. The Bank becomes the first bank to grant loans to its customers from the business segment, using a mobile app.
Mercantil Seguros Panamá began a process of extending protection of its Mercantil Global Benefits health insurance not only to residents of Panama, Venezuela, Latin American and Caribbean countries, but also to those who live in Spain, Italy and Portugal.
MERCANTIL continued with the strategy initiated in 2007 to unify the Mercantil Brand in all the companies that integrate the organization in order to guarantee a global image and a differentiated brand platform. In that sense, the name changes of Mercantil subsidiaries in the US were executed in January: Mercantil Commercebank was renamed Mercantil Bank, N.A. and its subsidiaries Mercantil Commercebank Investment Services Inc. y Mercantil Commercebank Trust Company were renamed Mercantil Investment Services Inc. and Mercantil Trust Company, N.A.