FINANCIAL
SERVICES
Bancomext fosters a
closer relationship with the entrepreneurial community in order to meet their
financial requirements and develop foreign trade projects. The bank has contributed
to growth of Mexican exports, the integration of the export-oriented supply
chain and the incorporation of a larger number of small and medium-sized companies
into exports.
Loan and Guarantee Programs
Bancomext channels its financial support to its clients
through five main categories:
1-Discounted Loans.
Discounted trade-related instruments by commercial banks.
2- Direct Loans.
Loans to private and public entities, mainly on a secured basis.
3- Government
Loans. Bancomext act as a
financing agent for the Mexican government.
4- Guarantees. Pre and post-export guarantees
for trade finance, bid bonds,
performance bonds, bank guarantees (tender, maintenance, repayment and retention
guarantees).
5- Venture Capital.
Limited equity participation.
Guaranteed and Commercial Credit Lines
Bancomext
has established credit lines of $6,333.4 million dollar as of December 31,
1999 with 111 international financial institutions, of which U.S.1,413 million
was outstanding. A majority of these credit lines are guaranteed by governmental
institutions such as the Commodity Credit Corporation, the Export-Import Bank
of the United States and Hermes of the Federal Republic of Germany.
Letters of Credit
Bancomext issued 2,039 letters
of credit in 1999, 26% above the previous year with a value of 503 million
dollars. It is worth mentioning, the establishment of stand-by letters of
credit to foster the participation of Mexican companies in the development
of infrastructure projects in Latin American countries. Fifty stand-by letters
of credit, worth 27 million dollars, were issued during 1999.
Money Desk
The Bank also offered the service
of investing the cash surpluses of large companies in either, government paper
or bank securities. The number of investment contracts significantly increased,
from 131 in 1998 to 237 in 1999, and the average amount outstanding also showed
a sharp rise, from $7,750 million pesos to $18,870 million pesos.
Foreign Exchange
With the purpose of reducing
the exchange risk Mexican firms face in their foreign trade transactions,
Bancomext may act as a broker in foreign currency futures as well as in forwards.
In 1999, 616 million dollars worth of contracts were operated in Mexican peso
futures market at the Chicago Mercantile Exchange (CME) and 113 million dollars
in the over-the-counter (OTC) forward market
Investment Banking
The Bank also offered non-traditional
financing schemes, known as investment banking, to foster the structuring
of competitive financing packages according to firms’ requirements
Trust Found
As of December 1999, Bancomext
managed 204 trust-with administrative, guarantee and investment purposes-whose
assets totaled $22,186 million pesos.
Buyer's Credit
Bancomext has established buyer
credit lines with Latin American countries. By means of these lines, Latin
American importers of Mexican goods and services may obtain financing under
competitive conditions. Twenty short-term buyer credit lines and another 20
long-term ones have been established with 13 countries. This facilities offers
Mexican exporters the opportunity to expand their exports to this region.
… And many other services.
For more information about
Bancomext’s Financial Services please
contact:
Carmen Flores
Deputy Financial Representative Tel 44 20 7726 4442 ext. 223 Fax 44 20 7726 6004
London EC2R 7HJ, England
mfloresv@bancomext.co.uk
Fax: (44) 020 -7726 6004
New York, New York 10152, U.S.A.
Tel: (212) 826-29-78, 826-29-39