Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. (“MHFI”), in the acquisition of the remaining minority equity stake in Mercantil Capital, S.A. (“Mercantil Capital”), the holding company that owns 100% of the shares of Mercantil Banco, S.A. (“Mercantil Banco”). As a result of this transaction, MHFI consolidated full ownership of Mercantil Capital and, consequently, of Mercantil Banco.
The transaction represents the culmination of a strategic process that began in 2022, when MHFI acquired, through Mercantil Capital, the controlling equity interest in Capital Bank, Inc. As a result of that transaction, Mercantil Capital became the owner of 100% of the shares of both Mercantil Banco and Capital Bank. Subsequently, in October 2023, the two institutions merged, with Mercantil Banco remaining as the surviving entity.
Since the integration with Capital Bank, Mercantil Banco has significantly strengthened its operational scale, loan portfolio, and position within the Panamanian financial system. Since then, the bank has continued to enhance its market position through organic growth, increased revenue generation, and a stronger funding base, consolidating itself as a strategically important banking platform in Panama with a strong presence in the private banking and wealth management segments.
MHFI is a holding company wholly owned by Mercantil Servicios Financieros Internacional, S.A. (“Mercantil”), a financial group with 97 years of experience in the banking, insurance, and investment sectors. Mercantil has an extensive international footprint and operational experience in Panama, the United States, Switzerland, Curaçao, and Venezuela, as well as representative offices in Colombia, Brazil, Peru, Mexico, and New York. In Panama, the group provides financial, banking, and insurance services to corporate clients, small and medium-sized enterprises, and individual customers.
As of March 31, 2026, Mercantil Banco reported total assets of US$4,386,509,553, net income of US$6,046,930, and customer deposits totaling US$3,628,005,338.
The Morgan & Morgan team was led by partners Francisco Arias, Ana Carolina Castillo, Ramón Varela, and Roberto Vidal, together with senior associate Mónica Moreno.