Argentine bank Banco Banex expects to boost financing to SMEs by 30% this year to around 260m pesos (US$88.m) compared to 2004, Banex's CEO Gabriel Coqueugniot told BNamericas.
Together with consumer financing, SME financing is one of Banex’s core businesses and the bulk of its SME financing is made up of factoring operations, Coqueugniot said.
In the first quarter Banex will add leasing and auto financing as two new business lines and those two lines are not included in the 30% forecast, he added.
In November last year Banex announced the acquisition of French banking giant Societe Generale's local subsidiary (Socgen Argentina) and this year the bank will consolidate that acquisition and focus on organic growth.
