2011: Nafin and Bancomext with ambitious goals
Thursday, January 13, 2011
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| Nafin and Bancomext with ambitious goals Both institutions plan to increase by 12% and 15% of its loan portfolio in 2011, the merger of the two agencies would mean annual savings of $ 100 million in expenses. economy Hector Rangel Domene noted that seeks a consolidation of programs Nacional Financiera. (Photo: Notimex) RELATED ARTICLES |
Nafin recognizes support to SMEs
In 2011, the credit of the development bank will focus mainly SMEs: Hector Rangel Domene.
Government and banks to support companies
Jesus Ugarte MEXICO CITY (FORTUNE) - Nacional Financiera
For Bancomext, the increase will be driven to ( Nafin ) and
Banco Nacional de Comercio Exterior (Bancomext) have set a goal to increase by 12% and 15% respectively, its total loan portfolio for 2011 . In the first case, the expansion of Nafin funding will be supported by guarantees, the traditional credit and other institutional loan programs.
Banco Nacional de Comercio Exterior (Bancomext) have set a goal to increase by 12% and 15% respectively, its total loan portfolio for 2011 . In the first case, the expansion of Nafin funding will be supported by guarantees, the traditional credit and other institutional loan programs.
seeks 20% increase in the number of productive chains and incorporate new non-bank financial intermediaries, strengthening the financing program of the federal government purchases, and lasso the Capital Fund of Funds Entrepreneur. inherent in the concrete Bancomext raises financial support for Ethylene XXI project , entailing a investment of 3.000 billion dollars to build a petrochemical complex in Veracruz with the participation of this institution and the Brazilian National Bank for Economic and Social Development (BNDES). This project would generate 11,000 jobs and is expected to be the largest investment in this sector in Mexico over the past 20 years. Former Chairman of the Board of Directors of Grupo Financiero
BBVA Bancomer
revealed that in 2010 Bancomext Nafin and registered a growth of 20 and 15% respectively in its loan portfolio directed to the private sector.
explained that while the balance
the portfolio given by Nafin (mainly aimed at financing SMEs) rose to an estimated 170.000 billion pesos, Bancomext, stood at 24.200 million pesos in national currency and to the private sector in 2.000 billion Foreign currency funding aimed at companies involved in the export sector and foreign exchange generation.According to the official, mass Nafin programs benefited 170.000
companies and 1.6 million individuals with business, they supported through microcredit programs. Fusiongenerate savings
The possible merger of Nafin and Bancomext could generate annual cost savings of $ 100 million, estimated the general director of both development banks.The meeting with the media, the official said that Mexico needs to consolidate and strengthen its development banks, with an appropriate legal framework and management autonomy.
"In Mexico there are currently several development banks and trusts that do not have the critical mass," he said. Rangel Domene, who gave as examples the cases of Brazil, Germany, Chile and the U.S. that have strong development banks.
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