World Finance names Banco Mercantil Santa Cruz Best Banking Group in Bolivia in 2018
LONDON, Aug. 06, 2018 (GLOBE NEWSWIRE) -- For the third year in a row, Banco Mercantil Santa Cruz was chosen to be the recipient of the World Finance Banking Award for Best Banking Group in Bolivia.
Steeped in history, the bank dates back to 1905 when Banco Mercantil was founded. Its footprint was then expanded considerably through an instrumental merger with Banco Santa Cruz in 2006. Today, Banco Mercantil Santa Cruz continues to build upon a deep understanding of financial services through its multi-generational commitment to excellence.
Despite slower than usual growth in Bolivian financial services, this year Banco Mercantil Santa Cruz reached $5bn in assets under management, outshining its peers both in terms of asset growth and net income. Since 2016 in fact, the bank has seen a monumental growth of $925m in assets through its sound management practices and the acquisition of Banco PyME Los Andes Procredit last year.
Always innovating, Banco Mercantil Santa Cruz has had great success in reaching younger generations. Its Banx brand, which targets customers between ages 18 and 35, has been very active in high schools and universities across the country. Innovations in technology have further helped the bank stay ahead of competition; its mobile app, complete with finger and face recognition, has made it easier than ever for customers to make enquiries and transactions through their phones. This, coupled with the recent renovation of the internet platform for corporate clients, has put Banco Mercantil Santa Cruz far ahead of the curve technologically.
Improving access to financial services is part of the bank’s long-term social goals. As such, Banco Mercantil Santa Cruz is deeply committed to its local community, helping lower-income Bolivians in particular through social housing and business loans.
For more about Banco Mercantil Santa Cruz, check out an exclusive article by Sergio Unzueta, VP of Finance and International Affairs, in the latest edition of World Finance, available in print, on mobile and online now.
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