News Column

BRIEF: Mercantil Commercebank of Coral Gables reports higher earnings

January 31, 2014

By Ina Paiva Cordle, The Miami Herald

Jan. 31 -- Mercantil Commercebank on Friday reported a net profit of $34.2 million for 2013, up from $31.8 million in 2012. Net loans closed at $4.8 billion at year-end, an increase of 8.7 percent over the same quarter last year. Deposits rose 3.6 percent during the year, to close at $5.6 billion at year end 2013. Mercantil Commercebank , based in Coral Gables , has $6.8 billion in assets and 19 locations, including 15 in South Florida , three in Houston and one in New York . The bank is owned by Mercantil Servicios Financieros (MSF), of Venezuela . ___ (c)2014 The Miami Herald Visit The Miami Herald at Distributed by MCT Information Services

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Source: Miami Herald (FL)

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