Mercantil 85 years of History...

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 (BMA).

BMA issues paper money which circulated as legal tender of ten (10), twenty (20) and a hundred (100) Bolivars. BMA decides to encourage agricultural activity by lending to rural producers.

First steps toward geographical expansion (Valencia branch opening), becoming the first branch outside Caracas.

BMA listed its shares in the Caracas Stock Exchange.

BMA decides to partner with Chase Manhattan Bank, N.A., which acquires a 49% stake in the bank. Later (in 1971) this was reduced to 20% due to changes in the Venezuelan legislation.

Services diversification: vehicle-loans; pioneers in electronic data processing systems. Partnership with Diners Club to manage the credit card franchise in Venezuela.

Change in Venezuelan legislation, Chase Manhattan Bank sells part of its stake keeping a 20% participation. The remaining 80% of the Bank's equity was Venezuelan owned.

Consorcio Inversionista Mercantil y Agrícola (CIMA) is founded as a sister company of BMA (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), Mercantil becomes pioneer in the sector in Venezuela.

International expansion: London, New York and Frankfurt Representative Offices; Banco Mercantil Venezolano in Curacao and Banco del Centro in Panama.

Incorporation of Union of BMA workers and signing of first collective bargaining contract.

Chase Manhattan Bank sells its total shares and BMA becomes a fully owned Venezuelan institution.

Bank changes its name to Banco Mercantil C.A. (BM). Continuing with the International expansion: new branch in Curacao and a Representative Office in Sao Paulo.

BM expands its services and offers innovative products in the areas of personal loans, consumer credits and trade finance. Service automation through corporate terminals and ATMs, becoming a leader in electronic services in Venezuela. CIMA acquires Commercebank, N.A. in Florida, U.S.A.

BM 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.

Mercantil acquires Banco de los Trabajadores de Colombia which later became Banco Mercantil de Colombia.

CIMA and Banco Mercantil initiate the American Depositary Receipt (ADR) program in the U.S.A. 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 BM's and CIMA's shares through a corporate reorganization process. BM became Mercantil Servicios Financieros' main subsidiary in addition to Commercebank N.A. a U.S. commercial bank; Banco Mercantil Venezolano in Curacao, Banco del Centro in Panama; BMC Bank and Trust Limited in Cayman Island and Banco Mercantil (Schweiz) AG in Switzerland; the investment bank Merinvest Sociedad de Corretaje, Mercantil Seguros and Mercantil Inversiones y Valores. JPMorgan Global Capital Limited acquires Banco & CIMA 's common B shares, that later represented approximately 9,9% of Mercantil 's outstanding shares. JPMorgan Global Capital Limited is a fully owned subsidiary of JPMorgan & Co. Incorporated . Mercantil's shares were registered at the National Securities Commission and at the Caracas Stock Exchange.

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 Seguros acquires Seguros Orinoco becoming one of the largest insurance companies in Venezuela.

BM maintains its leading position in terms of loans and deposits with 6,683 employees; 320 branches; 708 ATMs, 9,430 P.O.S.; 3 overseas agencies and 5 Representative Offices.

BM continues its efforts in the design and implementation of new products and services, fulfilling the financial needs of its customers by offering new programs as the Smart Academic Cards for the college community; operations through the internet and ATM's for its Trust Funds clientele and affiliation through the internet for the payment of phone and electricity bills and other bank's credit cards. Commercebank, N.A. Mercantil's subsidiary in the United States, creates a new unit to meet the needs of clients moving to the U.S.A., implements investment services through its affiliate Commercebank Investment Services (CIS), managing investment portfolios, accompanied by Commercebank Trust Services and sets up two Loan Production Offices in Tampa and Houston. Commercebank has 10 branches in Florida and 1 branch in New York. During 2003, Mercantil Seguros was the third insurance company in the country, with a market share of 10.3%. Banco Mercantil Switzerland intensifies its integration with the holding company and other affiliates to ensure growth and strength. Mercantil increased its participation in Bancolombia S.A. from 4.85% to 5.7%.

Mercantil's Management Structure is modified, specifically at the level of the Executive Committees' organization of Mercantil Servicios Financieros, Banco Mercantil and Commercebank, N.A. There were also changes in the Board of Directors of Commercebank Holding. Additionally, a new Global Risk Management Unit is created.

Mercantil sold its stockholding in Bancolombia. This stockholding corresponds to approximately 4.4% of the Colombian financial institution.

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 updates the terms of the contract regulating the Company’s ADR Program signed in 1997 with Morgan Guaranty Trust Company of New York, currently JPMorgan Chase Bank, incorporating Class A Shares to provide similar treatment as given to Class B shares in relation to the conversion of shares into ADRs, preserving  the inherent rights of each type of shares and maintaining the limitations and conditions of the ADR Program. The Audit Committee approved the audited financial statements of MERCANTIL and its subsidiary Banco Mercantil as of December 31, 2006, prepared in accordance with the accounting  standards applicable in the United States of America (USGAAP).

Mercantil Servicios Financieros aligns the Corporate Identities of all its Subsidiaries under the brand name Mercantil

A new subsidiary of Mercantil Servicios Financieros, “Mercantil Trade Services (Asia) Ltd.”, began  operations in Hong Kong. The company will handle Trade  Finance activities that represent attractive opportunities for Mercantil Servicios Financieros and for Asian companies that export  goods and services to the regions covered by Mercantil.

Mercantil Banco Universal launches Majority Banking, through a strategy based on a new network of service points offering innovative products and banking services for broad sectors of the Venezuelan population in areas where, up to now these services had not been available.

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.