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Mercantile Bank (South Africa)

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Title: Mercantile Bank (South Africa)  
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Subject: List of banks in South Africa, Caixa Geral de Depósitos
Collection: Banks Established in 1987, Banks of South Africa
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Mercantile Bank (South Africa)

Mercantile Bank Limited
Type Subsidiary
Industry Banking
Founded 1987
Headquarters Sandown, South Africa[1]
Products retail banking
Corporate finance
Asset Management
Capital Markets
Owners Caixa Geral de Depósitos
Employees 420[2]
Parent Mercantile Bank Holdings Limited
Website .za.co.mercantilewww

Mercantile Bank Limited is a South African commercial bank, founded in 1987.[3] The bank headquartered in Sandown, South Africa;[1] provide products and services in retail banking, corporate finance, asset management, equity brokerage and security.[4]

It is a fully owned subsidiary of Mercantile Bank Holdings Limited, which in turn owned by the holding company registered in Portugal - Caixa Geral de Depósitos S.A. (CGD).[3]

It has than more than 15 branches in South Africa, and employ more than 420 employees.[2]

Contents

  • History 1
  • See also 2
  • External links 3
  • References 4

History

The bank was founded in Republic of South Africa in 1987. It obtained a banking licence in 1989; and became a fully owned subsidiary of Mercantile Bank Holdings Limited, a bank holding company incorporated in January the same year.[3]

In 1995, the bank merged with Bank of Lisbon International (BLI) - a bank established in 1965. Shorty thereafter in 1996, the bank holding company name was changed from 'Mercantile Bank Holdings Limited' to 'Mercantile Lisbon Bank Holdings Limited' (MLBH). Earlier in 1995, the Portugal state-owned bank - Caixa Geral de Depósitos (CGD) had acquired a 27% stake in MLBH through its subsidiary Banco Nacional Ultramarino (presently the Macau based Banco Nacional Ultramarino SA).

In August 1998, Mercantile Lisbon Bank Holdings (MLBH) was listed on the Johannesburg Securities Exchange South Africa (now JSE Ltd). In March 2002, CSD stake in MLBH increased to 64.8%, and by September 2004 to 91.75%.

In 2005, the name 'MLBH' was changed back to Mercantile Bank Holdings Limited.

In 2012, it was delisted at 52 cents per share.[5]

See also

External links

  • http://www.mercantile.co.za

References

  1. ^ a b "Bloomberg Businessweek profile of Mercantile Bank Limited, South Africa". Retrieved 7 July 2012. 
  2. ^ a b "Mercantile Bank Ltd information - Securities.com". Retrieved 7 July 2012. 
  3. ^ a b c "About us - Mercantile Bank Limited, South Africa". Retrieved 7 July 2012. 
  4. ^ "Mercantile Bank Holdings Limited". Retrieved 7 July 2012. 
  5. ^ [1]
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