Name

Mercantil Banco

Legal name

Mercantil Banco, S.A.

Website

https://mercantilbanco.com.pa

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF)

Keywords

• Retail banking services
• Commercial lending products
• International trade finance
• Construction financing solutions
• Digital payment processing

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income: Income generated from lending activities including mortgages, personal loans, auto loans, commercial loans, and credit facilities. Interest rates vary by product and segment.
2. Account Fees and Commissions: Monthly fees, transaction fees, and service charges across deposit accounts, current accounts, and time deposits for both personal and business customers.
3. Card Transaction Fees: Revenue from credit and debit card transactions, merchant acquiring services, and payment processing for point-of-sale terminals.
4. International Banking Services: Foreign exchange services, international transfers, letters of credit, and cross-border transaction fees for international banking customers.
5. Commercial Finance Products: Leasing, factoring, trade finance, construction interim financing, and commercial credit lines generating fee and interest income.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Mercantil Banco is a full-service commercial bank in Panama providing deposit accounts, consumer and commercial loans, credit and debit cards, international trade finance, construction interim financing, leasing, factoring, merchant acquiring/POS services, and digital payment processing for both individual and business customers. The bank operates a multi-channel distribution model combining branch offices, ATMs, online banking (Mercantil en Línea), mobile banking (Mercantil Móvil), and a virtual assistant. It is part of the regional Mercantil Grupo Financiero Internacional with presence in Panama, Venezuela, and Switzerland.

Product overview

Mercantil Banco offers a comprehensive multi-channel banking platform designed for both individuals (Personas) and businesses (Empresas) in Panama. The product portfolio spans traditional banking services including multiple savings and checking account types with competitive interest rates (up to 4.35% annual for personal Maxi Ahorro Plus, 3.50% for business), diverse lending products (mortgages, auto loans, personal loans, commercial loans, construction financing, leasing, and factoring), credit and debit cards (Mastercard Gold/Platinum/Black, Visa Signature, Visa Corporate, Mastercard Business), and international banking services. The digital banking ecosystem includes Mercantil en Línea (online banking), Mercantil Móvil (mobile app), Soft Token (security authentication), and the AI-powered Asistente Virtual (virtual assistant). Business-specific solutions encompass digital payment solutions (Payment Button, Payment Link, Virtual POS), physical POS terminals, and trade finance services (letters of credit, documentary collections, bank guarantees). The bank is part of the larger Mercantil Grupo Financiero spanning Panama, Venezuela, and Switzerland.

Differentiator

Problem solved

Functional benefit

Brands

• Mony: Digital account solution for banking transactions via mobile device
• Mercantil Móvil
• Mercantil en Línea

Products and services

• Cuenta Maxi Ahorro Plus Personal savings account offering superior interest rates up to 4.35% annual that increase with higher account balances, designed to maximize returns for individual customers.
• Cuenta Maxi Ahorro Plus Empresarial Business savings account for companies offering interest rates up to 3.50% annual that improve as funds increase, optimizing business reserves.
• Cuenta de Ahorro Regular Standard personal savings account allowing secure deposits, interest earnings, and easy access to funds.
• Cuenta Maxi Ahorros Personal savings account designed to maximize yields with excellent interest rates while maintaining flexibility for fund access.
• Cuenta de Ahorro con Interés Escalonado Personal savings product with graduated interest rates over 1-5 year terms without withdrawals, designed to grow capital over time.
• Cuenta de Ahorro Kids & Teens Savings account for minors aged 0-18 designed to encourage saving habits with excellent interest rates.
• Cuenta Corriente Regular Personal checking account for easy and secure money management, allowing purchases and convenient payments.
• Cuenta Corriente Moneda Extranjera Personal foreign currency checking account in EUROS for managing international transactions.
• Cuenta Máxima Premium personal checking account with excellent interest rates and full mobility for fund management.
• DAME Short-term investment deposit at sight with agreed terms, available for personal and business accounts.
• Overnight Automatic nightly investment of available funds in the checking account for earning returns on idle balances.
• Plazo Fijo Regular Personal fixed-term deposit with attractive interest rates at various terms and interest payment frequencies for wealth building.
• Plazo Fijo Interés Escalonado Personal fixed-term deposit with graduated interest rates that increase over the deposit period.
• Plazo Fijo a Menor de Edad Fixed-term deposit designed for minors with agreed short-term investment terms.
• Cuenta Digital (Mony) Digital account branded 'Mony' that can be opened from a mobile phone for managing money transactions with speed, security, and efficiency.
• Vivienda Principal con Interés Preferencial Home mortgage with preferential interest rates for Panamanian or foreign residents, for loans up to $120,000.
• Vivienda Nueva New home mortgage with accessible financing options and attractive rates for purchasing a new property.
• Segunda Vivienda o Veraneo Second home or vacation property mortgage for beach, mountain, or additional properties in Panama.
• Traslado de Hipoteca Mortgage transfer service allowing relocation of existing home mortgage balance to obtain a better rate.
• Vivienda para Inversión Investment property mortgage with favorable financing conditions for real estate investment.
• Préstamo de Auto Personal auto loan for purchasing a new or existing vehicle with personalized service throughout the process.
• Préstamo Personal Personal loan for various needs including travel, education, home remodeling, or major purchases, with flexible monthly payments.
• Préstamo Personal con Garantía Hipotecaria Personal loan secured by real estate collateral for achieving financial goals with potentially better rates.
• Tarjeta Mastercard Gold Personal Mastercard Gold credit card providing simplified purchasing decisions with broad benefits and additional protection.
• Tarjeta Mastercard Platinum Premium Mastercard Platinum credit card for travel experiences with worldwide acceptance and exceptional travel benefits.
• Tarjeta Mastercard Black Exclusive Mastercard Black credit card with exceptional credit limits and special benefits for travel and lifestyle.
• Tarjeta Visa Signature Personal Visa Signature credit card with privileges and benefits tailored to lifestyle, particularly attractive travel advantages.
• Tarjeta de Débito Mercantil Personal Mastercard debit card for making purchases with the acceptance, support, and security customers deserve.
• Compra de Saldo Balance transfer service allowing customers to transfer credit card balances from other banks with 0% interest for the first 24 months and up to 60 installments.
• Cuenta de Ahorro Planilla Business savings account for companies to provide employees with agile and secure payment reception through payroll savings accounts.
• Cuenta Corriente Pyme SME checking account for easy and secure fund management and business payments.
• Préstamos a Término Business term loans for short, medium, or long-term needs including equipment acquisition, commercial improvements, supplier payments, inventory purchases, and other purposes.
• Líneas de Crédito Revolving and non-revolving credit lines for short-term liquidity needs including working capital and letters of credit, with annual limit renewal.
• Hipoteca Comercial Medium and long-term business financing for acquiring offices, galleries, commercial spaces, or other income-producing real estate.
• Interino de Construcción Construction interim financing for residential or commercial projects, serving both government and private contractors, with financing up to 15 years.
• Comercio Exterior International trade services including letters of credit (import/export), standby letters of credit, bank guarantees, and documentary collections through a network of correspondent banks.
• Mercantil Leasing Leasing solutions for acquiring movable property through rental arrangements, including financial leasing, operating leasing, leaseback, and green leasing across construction, services, commerce, and industry.
• Factoring Factoring service backing contractors of the Government of Panama and private sector through discounting of pending accounts receivable from contracts or purchase orders, providing immediate liquidity.
• Soluciones Digitales de Pago Digital payment solutions for businesses including Payment Button for websites, Payment Link for sharing via email or social media, Virtual POS for mobile/tablet/computer, and a recurring payment platform for automated periodic charges.
• Punto de Venta (POS) Point of Sale terminals accepting Visa, Mastercard, and Clave payments with EMV chip technology, PCI certification, and next-day settlement.
• Visa Corporate Corporate Visa credit card offering flexibility and information for efficient company expense management.
• Mastercard Business Business Mastercard credit card designed to elevate businesses and simplify company financial processes.
• Mercantil en Línea Online banking platform for both personal and business customers to manage accounts, transactions, and financial services digitally.
• Mercantil Móvil Mobile banking application for personal account management and banking services from smartphones and tablets.
• Soft Token Software-based security token for generating one-time passwords (OTP) for secure authentication in online and mobile banking.
• Asistente Virtual AI-powered virtual assistant for customer service and banking inquiries through digital channels.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability1 record

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Mercantil Servicios Financieros InternacionalcoreOthersHolding company of the Mercantil Financial Group that encompasses all Mercantil banking and financial operations across Panama, Venezuela, and Switzerland. Provides strategic direction and coordination for the group.
• Mercantil Servicios de InversiónminorOthersInvestment services company operating in Panama under the Mercantil Group umbrella, offering investment products and services to customers.
• Mercantil SegurosminorOthersInsurance company within the Mercantil Group offering life, health, property, and other insurance products. Cross-sells insurance through bank channels in Panama.
• Mercantil ReminorOthersReinsurance company within the Mercantil Group providing reinsurance services to the insurance subsidiaries.
• Óptima de SegurosminorOthersInsurance company operating in Panama as part of the Mercantil Group network, providing insurance solutions.
• Mercantil MerinvestminorOthersInvestment management company operating in Venezuela under the Mercantil Group, managing investment portfolios and financial assets.
• Superintendencia de Bancos de PanamácoreOthersPanamanian banking regulator that supervises and regulates Mercantil Banco's operations in Panama. The bank is explicitly stated as regulated and supervised by this regulatory body.
• MastercardcoreTechnology or IntegrationPayment network partner providing the infrastructure for credit and debit cards including Mastercard Gold, Platinum, Black, and business cards. Enables worldwide acceptance and transaction processing.
• VisacoreTechnology or IntegrationPayment network partner providing the infrastructure for Visa Signature corporate cards. Enables acceptance and transaction processing for business customers.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Banco General: Panama's largest privately-owned commercial bank offering full-service personal and business banking, mortgages, credit cards, and digital channels; directly comparable to Mercantil Banco across the same product taxonomy and segments.
• Banistmo: Leading Panamanian universal bank providing consumer, commercial, and international banking with trade finance and digital platforms; competes with Mercantil Banco across nearly identical product lines and target segments.
• Global Bank Corporation: Panamanian private commercial bank with consumer, commercial, and trade-finance offerings — a same-market competitor across deposits, lending, and digital channels.
• Caja de Ahorros: Large Panamanian state-owned savings bank offering retail deposits, mortgages, and commercial banking; a domestic competitor for the same personal and SME customer base that Mercantil Banco targets.
• BAC Credomatic: Major Central American commercial bank with significant Panama presence, offering consumer and SME banking, credit cards, and merchant acquiring; directly comparable in geographic footprint, GTM (branch + digital), and product breadth.
• Banco Ficohsa: Central American commercial bank with operations in Honduras, Guatemala, Nicaragua, Costa Rica, and Panama — competing in consumer deposits, SME lending, and cards across comparable markets.
• Banco Nacional de Panamá: Panamanian state-owned commercial bank providing retail and corporate banking; competes for the same SME and consumer segments and shares Mercantil Banco's domestic focus.
• Davivienda Panama: Colombian-owned bank with Panama retail and commercial operations; competes in mortgages, deposits, and digital banking with the same customer segments targeted by Mercantil Banco.

Regional players

• Banco Pichincha: Ecuadorian-owned bank with growing Central American presence including Panama, offering similar consumer, SME, and corporate banking products to a regionally comparable clientele.

Broad incumbents

• Scotiabank Panama: Subsidiary of global Canadian bank operating a full-service retail and commercial bank in Panama; broader international footprint but directly comparable in product mix and customer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/mercantilbanpa
• YouTubeyoutube.com/channel/UCczIdbwwsetVp7o3AQEdW9w
• Facebookfacebook.com/mercantilbancopanama
• Instagraminstagram.com/mercantilpanama

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mercantil Banco