[1] On 23 March 1925 a group of 98 Venezuelan businessmen founded the bank with the name of "Banco Neerlando Venezolano" in an economy determined by the agricultural activity being the major component of national income (coffee, cacao and cotton).

Since the 1970s the bank achieved the opening of subsidiaries in Brazil, Canada, Colombia, Curaçao, Germany, Mexico, Panama, Peru, Switzerland, United Kingdom and United States.

In 1982, the Mercantil Tower skyscraper was built as the new bank headquarter's.

In 2000, Mercantil bought a lot of financial and insurance institutions as Interbank, Venezolana Entidad de Ahorro y Préstamo, Banco Monagas, Seguros Orinoco, among others.

At the end of 2007, Mercantil controlled 12.29% of the banking market share in Venezuela, just behind Banesco.