Mercantil credit portfolio expands 32.8% in year through Q1

- Tuesday, May 3, 2011

Mercantil credit portfolio expands 32.8% in year through Q1

Venezuelan bank Mercantil saw its credit portfolio expand 32.8% in the 12 months to end-March, to 42bn bolívares (US$9.78bn), the bank said in a press release.

The bank's deposits rose 32.8% during the same period to 25.9bn bolívares, giving it a 19.6% market share.

The release did not include information on earnings for the quarter. The latest figures from bank regulator Sudeban put Mercantil earnings for the quarter at 306mn bolívares, but did not provide information from previous quarters for comparison.

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The bank''s ROE for the quarter stood at 28.9%, according to the Sudeban figures.