Bancomext: Best Trade Finance Bank Mexico 2016
Mexico’s Banco Nacional de Comercio Exterior (Bancomext), founded in 1937, is one of the country’s principal trade facilitators. The bank finances trade and foreign currency generating industries and has a wealth of experience in the efficient delivery of products and services tailored to meet the needs of businesses that venture beyond Mexico’s borders.
At heart, Bancomext is a development bank, partnering with private business to tap into global markets, seizing opportunities, and driving the expansion of the country’s export sector. The bank is particularly focused on financing investment projects geared towards international trade. Bancomext has been a long-time financier of Mexico’s buoyant tourism industry and also offered support to projects in the industrial, logistics, and energy sectors.
Bancomext works closely with a number of carefully selected commercial banks to add to its reach and roster of services, offering clients a holistic approach to the provision of financial services. The bank is known for establishing long-term relationships with its corporate clients. Thus, Bancomext aims to gain a better understanding of their businesses with a view to offering optimised services.
More than 65% of Bancomext’s loan portfolio is in foreign currency, as it finances its clients export activities and investment needs. In August 2016 Bancomext became the first development bank to issue Tier 2 subordinated debt, which boosted its capital base and strengthened its balance sheet.
The bank supports international trade with a full array of products, including factoring facilities available to both importers and exporters. Bancomext also partners with commercial banks to offer support to small and medium-sized business with cross-border interests. The CFI.co judging panel is pleased to offer Bancomext the 2016 Best Trade Finance Bank Mexico Award.
