Mercantile Bank (South Africa)

This article is about the South African bank established in 1965. For the other banks with similar names, see Mercantile Bank (disambiguation).

Mercantile Bank Limited
Company typeSubsidiary
IndustryBanking
Founded1965
HeadquartersSandown, South Africa[1]
Productsretail banking
Corporate finance
Asset Management
Capital Markets
OwnerCapitec Bank
Number of employees
501-1000[2]
ParentMercantile Bank Holdings Limited
Websitewww.capitecbank.co.za

Mercantile Bank Limited is a South African commercial bank, founded in 1965.[3] It was previously called Bank of Lisbon International.[3] The bank is headquartered in Sandton, South Africa,[1] and provides 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 is owned by the holding company registered in Portugal – Caixa Geral de Depósitos S.A. In 2019, Capitec Bank bought Mercantile Bank South Africa.[3]

In October 2019, the South African Minister of Finance and other Regulatory Authorities formally approved Capitec's purchase and acquisition of Mercantile Business Bank. As of November 2019, Capitec Bank bought all the shares of Mercantile Bank Ltd from CGD and serves as its business banking branch.[5]

It has more than 15 branches in South Africa, and employs between 501 and 1000 employees.[2]

  1. ^ a b Cite error: The named reference MBLSA-H-01 was invoked but never defined (see the help page).
  2. ^ a b Cite error: The named reference MBLSA-H-02 was invoked but never defined (see the help page).
  3. ^ a b c Cite error: The named reference MBLSA-H-00 was invoked but never defined (see the help page).
  4. ^ Cite error: The named reference MBLSA-H-03 was invoked but never defined (see the help page).
  5. ^ "Acquisition of Mercantile Bank Holdings Limited and Its Subsidiaries ("Mercantile")". Capitec Bank. Retrieved 14 January 2020.