Funding through Financial Intermediaries
Program that consists in the granting of resources to the banking and non-banking financial intermediaries for them to, in turn, offer loans to companies that have operations in international markets or that generate an influx of foreign currency.
At the end of 2017, 52 banking and non-banking intermediaries were registered. The balance has exhibited a 22% growth, climbing from 25.3 billion pesos recorded by the end of 2016, to 31.4 billion pesos in December of 2017, offering assistance to a total of 560 companies.
Guarantee Programs
By the end of 2017, 3,326 companies have been offered assistance, through 16 banking financial intermediaries, with the Exporting and Importing SME Support Program and the Tourism Sector Support Program.
This program registered a balance of 18 billion pesos in 2017, 14% more when compared to the end of 2016. The composition of the portfolio was 76% in national currency and 24% in dollars.
Sectoral Guarantees Program
International Factoring
This program offers Mexican export companies liquidity by their receivables on export sales. At the end of 2017, it registered an outflow of 10.3 billions pesos, a 13% increase from 2016. 223 companies benefited, including FCI International Factoring (118) and PrimeRevenue International Factoring (105).
The balance was $ 2.2 billions at the end of 2017, a 9% growth when compared to 2016. The number of invoices financed through the FCI platform (IMx) amounted to 21.8 billions in 2017, from 33 countries.
International Factoring Guarantee
In 2010, due to the crisis in the United States and the problems of the three most important car manufacturers, a support program was designed for their suppliers. A commercial bank in Mexico carries out the Financial Factoring operation and BANCOMEXT grants a 100% guarantee covering the risk of non-payment of the assembly plants. The program registered placement of $ 2.7 billions in 2017 with a balance of $ 603 millions.
Vendors
This program enables Bancomext to finance accounts receivable of companies that supply major exporting companies. At the end of 2017, the program registered a balance of $ 2.4 billions, a growth of 22% when compared to 2016. The placement amounted to $ 9 billions, assisting 321 supplier companies out of 466 affiliates.
Letters of Credit with Foreign and National Banks
In 2017, a balance of $ 14.2 billions was recorded, representing a 15% increase when compared to the previous year. Currently, 95 qualified counterparty risk lines are in operation with international banks in 31 countries. Over 60% of operations related to this product are performed with banks that hold a high prestige.
Financial Technical Assistance
Results reported by the Institute:
- 715 registered users in the virtual classroom.
- Training and personalized attention to 258 companies.
- Talks and lectures to 135 companies.
- Four promotional videos:
- Introduction to the IFFCE
- International Factoring
- How to Apply for a Credit
- Financial Risks in International Trade
During 2016, the implementation of the Financial Technical Assistance Program (PATF) began with the objective of providing online training on financial issues for exporting companies. It consists of 4 principal axes:
- Information: a site for focused information
- Training: through e-learning or face-to-face platforms.
- Analysis and Diagnosis Tools: with specific content.
- Personalized Advice: individual attention through institutional stand in events, telephone calls, presence in conferences, etc.
During 2017, the PATF became the Financial Training Institute for Foreign Trade (IFFCE). In 2017, the comprehensive program focusing on PYMEXs (export SMEs) was launched through the www.pymexbancomext.com portal, where the IFFCE is hosted. It operates from an electronic training platform www.aulavirtualbancomext.com, where four training courses can be accessed free of charge:
- “How to Request a Credit for Foreign Trade Activities”
- “International payment methods.”
- "International Factoring."
- “Letters of Credit.”
Strategic Alliances
The Institution participated in international events such as the Seminar on the best use of the Free Trade Agreement between Mexico and Central America, the Annual Assembly of the Latin American Federation of Banks (FELABAN), the "IV Business Meeting of the Pacific Alliance" and the 47th General Assembly of ALIDE. It also formed part of the creation of the Ibero-American Guarantees Network (REGAR).
During 2017, BANCOMEXT participated in more than 40 events that facilitated the promotion of products and services and obtained feedback on the needs for financial support and services from the exporting and importing community; highlighting the launch of the "Improve your Hotel" program in conjunction with SECTUR, as well as the "Connect to tourism", "National Movement for Tourism” and “Touristic Momentum Forum" national campaigns and the Magical Towns Fair.