November 1, 2010
Boosting lending capabilities will continue to be a focus, Gustavo Marturet, president of Mercantil Banco Universal tells LatinFinance.
The bank now aims to grow in the consumer sector. "We expect to increase our presence with a broader client base, expand consumer lending and credit facilities to small and mid-size companies," says Marturet.
At the end of June 2010 Mercantil was the leading institution in the Venezuelan financial system in terms of loans to the tourism, manufacturing and mortgage sectors, with 18.7%, 20.1% and 16.6% of market share, respectively, according to the bank. It also claims to be the leading institution in terms of savings deposits, with a 19.9% share, and al
Mercantil Banco Universal has been expanding its loan portfolio, which has led to year-on-year growth despite a economic contraction and slow liquidity growth in Venezuela.