Automotive Industry

Bancomext continues to support one of the sectors with the highest participation in Mexico's trade balance, the Automotive and Auto Parts Sector, granting financing to companies and extending it to the sector's value chains, strengthening the presence of Bancomext as a tool of economic policy to promote the country’s development.

During 2020, 7 companies were offered assistance with new loans for an amount of 1,063 million pesos, the following standing out:

A syndicated loan was granted to one of the most important companies in Mexico, a manufacturer of auto parts for suspension systems, for 22.0 million dollars, to consolidate and optimize its operation and meet the requirements of new national and foreign clients to continue to generate growth.
Three lines of credit were granted to a supplier company in the automotive sector for a global amount of 36 million dollars: 15 million dollars for the Supplier Factoring (SPC) program; 6 million dollars for its revolving working capital needs, and 15 million dollars for investments in Mexico (Capex). The company belongs to one of the three leading independent manufacturers worldwide for the products it manufactures and is number one in North America (T-MEC). Direct exports represent 95% of their sales. Employing more than 5,500 people, they have been in the market for 45 years.
A new loan was granted to a company specialized in braking systems for the automotive sector for an amount of $ 10.0 million dollars. This benefits the company's value chain, mainly SMEs.

To mitigate the effects of the health crisis, Bancomext offered assistance to 11 companies in rescheduling and restructuring various amortizations for 380 million pesos. This group of companies has credit lines for 1,983 million pesos.

The 2020 portfolio indicators for this sector were as follows:

The portfolio balance reached 12,272 million pesos, contributing 6% of the total balance of the first-tier private sector portfolio. This portfolio shows an increase of 0.5% when compared to 2019, which amounted to 12,216 million pesos.
The placement of resources for the period was 14,578 million pesos, contributing 10.7% to total Corporate Banking.
40 companies were benefited.
The sector generated 254 million pesos of income from financial margin plus commissions.