2019 Anual Report
Factoring
International Factoring
The International Factoring Program offers to the Mexican export companies’ liquidity on its accounts receivable on export sells and, simultaneously, helps them mitigate the risk that implies selling to a foreign client.
In 2019, the Program registered a spending of resources of $12,695 million pesos, and a balance of $2,559 million pesos, benefiting 215 companies distributed as follows:
| Platform | Business 2019 |
|---|---|
|
PrimeRevenue |
110 |
|
FCI |
95 |
|
Import |
10 |
|
Total |
215 |
In the closing of 2019, 32,732 invoices were funded, that belonged to 40 import countries worldwide.
- Suppliers
This program allows Bancomext to finance the accounts receivable in the supplier companies of the gif export companies. With figures from 2019, the program registered a balance of $1,923 million pesos; the placement raised to $8,066 million pesos, offering aid to 435 supplier companies and 562 affiliated ones.
In 2019, a bank platform was created, and work was done on the transcription of the operation.
2. International Factoring Guarantee
This guarantee program consists in the financing of accounts receivable of Mexican companies with exportation sells through National Financial Intermediaries, offering them a guarantee of 100% to buyer abroad previously qualified by Bancomext, giving work capital. The program allows the suppliers to obtain funding in preferent rates in the modality of “no resources” and without notifying the client.
3. Foreign trade Guarantee
The program consists in granting Financial Banking and non-banking Intermediaries abroad, to cover the risk of unfulfillment of a payment on the funding granted by its Mexican real state import clients. During 2019, a funding of 8.5 million pesos was granted to an American company with a subsidiary in Coahuila. Said operation increased the guarantee balance to the double, remaining in 176 million pesos.
- Letters of Credit with International Banks
The letters of credit are a foreign trade tool linked to the compromises of the companies, that allow the access to a bigger number of markets. Resulting of the strategy of Bancomext as a supplier of this service and the permanent promotion made with the international bank, in 2019 a balance of $9,011 million pesos.
4. Strategic Alliances
During 2019, Bancomext, trough the Financial Institutions DGA, participated in different national and international promotion events, some of them like the 14th Export Congress, the Foreign trade Congress (COMCE), the inauguration of the International Business Center of the Secretary of Economy, Fintech week, The national Week of Financial Education, the Iberoamerican Guarantee Forum od REGAR.
On the other hand, in this year an agreement of collaboration was signed, together with NAFIN, the Association of Banks of Mexico (ABM), with the purpose of supporting medium and small companies, through a new program model of guarantees.
5. Portal www.bancomext.com
The Bancomext portal online stays updated to keep functioning as a main electronic tool in promoting services and products. During 2019, 1,038,241 views were seen on the website:
| No. | Top 5 | Visits |
|---|---|---|
|
1 |
Credit letters |
30,989 |
|
2 |
International Export Factoring |
24,134 |
|
3 |
Stand-By Letters of Credit |
15,761 |
|
4 |
Export Letters of Credit |
15,153 |
|
5 |
Import Letters of Credit |
13,528 |
|
6 |
Others |
25,724 |
Additionally, the portal offers electronic bank services, so it has become a portal for informational and transactional use.
- PyMEX BANCOMEXT
In the Bancomext website there is a page dedicated to Pymex (Small and Medium Export Companies) bancomext.com/pymex/, where 99,840 views were made:
| No. | Top 5 | Visits |
|---|---|---|
|
1 |
Financing |
4,350 |
|
2 |
Financial Education Courses |
1,692 |
|
3 |
Calculating |
1,560 |
|
4 |
Sector Information |
948 |
|
5 |
PYMEX Advisory |
945 |
|
6 |
Others |
2,319 |
Additionally, there is a Bancomext App dedicated to the attention of the PyMEX, where 24,765 views have been made.
| No. | Top 5 | Visits |
|---|---|---|
|
1 |
Financing |
4,350 |
|
2 |
Financial Education Courses |
1,692 |
|
3 |
Calculating |
1,560 |
|
4 |
Sector Information |
948 |
|
5 |
PYMEX Advisory |
945 |
|
6 |
Others |
2,319 |
On the other hand, the Telephone Contact Center with the number 800-EXPORTA, gave service to 1,456 calls, highlighting those about products and financial services: like PyMEX Credit, Letters of Credit and International Factoring.
| No. | Top 10 | Calls |
|---|---|---|
|
1 |
Transfer |
433 |
|
2 |
Advisory |
271 |
|
3 |
The call was not achieved |
208 |
|
4 |
Financing |
105 |
|
5 |
Errors |
101 |
|
6 |
Others (Letters of credit, PyME credit, Factoring) |
301 |
- PYMEX BANCOMEXT Strategy and the Foreign Trade Institute of Financial Education (IFFCE)
The PYMEX BANCOMEXT strategy consist in the approach to the small and medium companies that participate in foreign trade. In the frame of IFFCE’s strategy are four main elements:
- Information: Gives to the companies a place to look up for information related with foreign trade:
- Economic Analysis
- Sector Information
- Selected articles of financial information for foreign trade
- International and national links
- Two E-books: Factoring and Financial Guide for the Exporter
- In 2019 monthly journals were implemented, with tips for the PyMEX in business and foreign trade matter. 10 journals were sent.
- Personalized Counseling: Individual service to entrepreneurs trough a stand in institutional events, phone calls, and the participation in conferences, etc.
- Diagnosis and Analysis Tools: Specific content focused in financial and credit topics.
- Attraction: Specialized in foreign trade and financial matter trough on-site and e-learning platforms, with 15 financial education spots and 30 online courses regarding financial and management matters.
The distribution means of the IFFCE offer are:
- The website www.bacomext.com
- The website www.bancomext.com/pymex
- The electronic platform for online attraction www.aulavirtualbancomext.com
- The events in which Bancomext participates.
- APP Bancomext PyMEX
The reported results for the institute are:
- 1,621 new members were registered in www.aulavortualbancomext.com from January to December 2019.
- Training has been granted to approximately 192 legal and physical entities trough the participation in different events, phone calls and the linking with other bodies like NAFIN.
In summary: In 2019, The General Management Board of the Financial Institutions made its financial products a total balance of $65,337 million pesos. Likewise, aid was provided to 4,486 small and medium companies that participate in foreign trade, tourism and currency providers; aiming to fulfill with Bancomext’s goals.
The Management remained to promote the financial intermediaries, both national and international; increase and incorporations of new lines are predicted, as well as prospect analysis and new operations to face the new established goals.
| Benefited companies | ||
|---|---|---|
|
Products |
2018 |
2019 |
|
Guarantee |
3,524 |
3,774 |
|
Funding |
598 |
497 |
|
Factoring |
234 |
215 |
|
TOTAL PYMEX |
4,356 |
4,486 |
