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Mercantile ranks second in foreign currency deposits with 16.3% in the local market
The ordinary general meeting of shareholders of Mercantil Servicios Financieros CA (MSF) approved the audited financial statements and the management report corresponding to the second half of 2022, in which the growth of 240.5% of total assets that closed the year stands out in 11,619 million bolivars.
By December 31, 2022, MSF registered equity of Bs 2,671 million, it was reported in a press release. The increase compared to the first half of 2022 was 545.9%. The net loan portfolio closed at Bs 2,147 million, and experienced an increase of 380.1% compared to the close of the first half of 2021.
In the private financial system, Mercantil Banco Universal (MBU) ranked first in savings deposits and second in total deposits in the second half of 2022, with a market share of 23.4% and 17.6% , respectively. The institution, which turned 98 in March, reached second place in foreign currency deposits with a 16.3% market share.
In this period, Mercantil’s net result was Bs 370 million, which represented an increase of 4,391.5% compared to the previous semester. Likewise, deposits from the public went from Bs 1,823 million to Bs 5,085 million, the entity reported in a press release.
Mercantil’s equity reached Bs 1,789 million in the second half of 2022, which represents 699.9% more than in June 2022.
The bank’s gross loan portfolio experienced an increase of 487.7%, compared to the balance of the previous semester, standing at Bs 1,504 million, thus the bank reached 15.1% participation in the private financial system.
The entity closed 2022 with 203 offices and more than 51,000 physical points of sale. In addition, it registered 620 million financial and non-financial transactions, of which 99.61% were made through electronic channels.
Through Tpago there were a total of 157 million operations, 17.6% more than in the previous period. The Mobile Payment service closed the year with 2.2 million affiliated customers.
Mercantil Seguros, for its part, ranked first among insurance companies in the country in terms of net premiums collected, with a 29.6% market share at the end of 2022.
Appointed Board of Directors of the Caracas Stock Exchange for the period 2023-2025
The ordinary shareholders’ meeting of the Caracas Stock Exchange (BVC), held on Tuesday, March 28, elected the members of the institution’s Board of Directors for the period 2023-2025.
On this occasion, the main directors Gustavo Pulido Medina, as president; Marco Gasperini, vice president and Andrés Octavio, as secretary; while Horacio Velutini, joins as an independent director.
As substitute directors, Emilio Antelo was appointed as substitute for the president, Carlos Guruceaga as substitute for the vice president; Gonzalo Alonso Labraga as substitute for the secretary and Fernando Ochoa as substitute for the independent director.
When taking stock of the management, the president of the BVC, Gustavo Pulido Medina, highlighted that the board of directors “has implemented the necessary mechanisms to guarantee legal, operational and transactional security” for issuing companies and investors that come to the market, according to press release.
As part of the decisions made during the 2021-2023 period, he pointed out the release of crossover operations and agreed price, to give greater liquidity to the market; the adequate adaptation to the devaluation and subsequent monetary reconversion; and the creation of the alternative BVC, a segment that bets on the new companies that have been formed in the market. As well as the newly designed “Other Assets” segment, which is awaiting the general guidelines, by the National Securities Superintendency (Sunaval), and whose purpose is “to give greater mobility to commerce.”
At this ordinary shareholders’ meeting, the balance sheet and accounts of the board of directors and the destination of the net profit obtained in the year ended December 31, 2022 were also approved.
Bancaribe promotes financial education for children and young people
Bancaribe carried out various activities in March as part of Global Money Week (GMW), an initiative of the International Financial Education Network that promotes efforts to improve financial education for children and young people around the world.
Under the motto of the GMW “plan your money, plant your future”, this year the financial institution benefited 426 students of 3rd, 4th, 5th and 6th year of high school, through the various activities that were carried out , where 52 Bancaribe Volunteers participated, the entity indicated in a press release.
The first initiative took place on March 20 at the Fe y Alegría Enrique de Osso Technical School, where the volunteers gave the talk “Let’s talk about Financial Education today.” Subsequently, on March 21, 22 and 24, a guided tour was carried out within the facilities of the Bancaribe headquarters, located in El Rosal, and in the Digital Office of the Lido Center, to the students of the Fe y Alegría Technical School Monterrey, the Andrés Bello Municipal Educational Unit (UEM) and the Juan de Dios Guanche UEM.
Additionally, in alliance with the AC Young Entrepreneurs of Venezuela, on March 23 the bank held a Financial Planning workshop at the Nuestra Señora de Guadalupe School; This alliance was also joined by the Molecula Creativa agency, who contributed with the pieces and images used in this year’s campaign.
Bancaribe has been part of this global initiative for 10 years and through its Financial Education program, continues to demonstrate its commitment to training and information for young Venezuelans.
In this way, it also supports the Sustainable Development Goal (SDG) No. 4 established by the United Nations: Quality education, which dictates: guarantee inclusive, equitable and quality education and promote lifelong learning opportunities for all .
Juan Carlos Escotet, the only Venezuelan on the Forbes list of billionaires in 2023
Juan Carlos Escotet, president of the board of directors of Banesco and of the board of directors of the Spanish financial group Abanca, is the only Venezuelan that integrates the list of the Billionaires of the World of Forbes magazine, corresponding to 2023, where more than 2,500 largest fortunes on the planet.
Escotet is among the first 1,000 billionaires in the ranking, specifically in position 636 with an estimated net worth of 4.3 billion dollars, an increase of 22.9% compared to the $3.5 billion of the previous edition.
According to historical data from Forbes, Escotet’s assets have accumulated an increase of 186.6% since 2014, when he appeared on the list for having an estimated amount of $1.5 billion.
Among the first 1,000 billionaires of Forbes magazine, only 20 Latin Americans appear, headed by the Mexican telecommunications magnate Carlos Slim, who returned to the Top 10 of the list of the richest of the American publication to occupy position 8, with an estimated wealth at $93 billion. However, Brazil is the country in the region that contributes the most fortunes to this group with a total of seven billionaires.
In the Forbes ranking, Elon Musk ranks second, with an estimated fortune of $180,000 million, ahead of Jeff Bezos ($114,000 million), Larry Ellison, co-founder of the publisher of the Oracle program ($107,000 million) and businessman Warren Buffett ( $106,000 million).
The French Bernard Arnault, president of the luxury group LVMH, and Françoise Bettencourt Meyers, heiress to L’Oréal, are, together with their families, the richest man and woman in the world.
In 2022, Bernard Arnault ranked third in the annual list of winners dominated by Elon Musk, head of Tesla, Twitter or even SpaceX, and Jeff Bezos, founder of Amazon. But last December, the French billionaire dethroned them, becoming with his family the world’s greatest fortune according to the “real-time” classification established by the magazine, based on stock prices and exchange rates, the agency highlighted. AFP.
In the world top 2023, his fortune is estimated at $211,000 million. Forbes claims to have “calculated net worth using stock prices and exchange rates on Friday, March 11, 2023.”
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