Mercantil Bank of Brazil is a financial institution that offers diversified financial services for all classes of clients. Therefore, the bank operates with both legal entities and individuals, being considered a medium-sized bank.
Founded in 1943, in Minas Gerais, the bank began to grow around the 60s, 70s, and 80s. This is because Mercantil Bank started investing in the incorporation of several other banking establishments.
Currently, the bank ranks eighth among private banks in terms of total deposits, according to a survey conducted by the Central Bank (Bacen). In total, the financial institution has more than 200 service points.
Among the main banking services, Mercantil Bank offers investment options, credit, insurance brokerage, securities intermediation, foreign exchange, distribution of values, and securities.
The bank has a presence in 143 cities, with 25 electronic service points, 200 branches, 3 platforms, and 2 business units. Despite this, the Brazilian Southeast is the region where Mercantil Bank concentrates its operations the most, with about 80% of the branches located, especially, in Minas.
Recently, the bank opened an international branch in the Cayman Islands. These islands are known as “tax havens.” The main objective of the bank in opening the branch is to offer clients options for international products.
The history of Mercantil Investment Bank began in 1943, when the bank was founded in the city of Curvelo, Minas Gerais.
Between the 1950s and 1970s, the bank incorporated the Industrial Bank of Minas Gerais, acquired Banco Santa Cruz and Banco Metrópole, and completed the acquisition of the Industrial Banks of Campina Grande and Mercantil do Brasil.
With the arrival of the 1980s, Mercantil Bank consolidated itself in Minas Gerais and, in addition, was recognized in the banking and financial sector throughout the country.
In 2014, the bank won the INSS Auction in Minas Gerais and in the interior of São Paulo and, from that point on, began to serve INSS beneficiaries.
By 2016, the bank expanded business opportunities and, in 2018, obtained ISO 9001 certification for the Main Agency, certifying the quality of the institution's service.
