Mexico's government has kept the door open to a possible merger involving Ex-Im bank Bancomext and small business development bank Nacional Financiero (Nafin), according to a report by local daily El Informador.
"To have a department of this kind [Ex-Im] in development banking is something we believe ought to be considered again," said finance undersecretary Alonso Garcia Tames. According to the undersecretary, discussions on a merger are ongoing and the operation may still come to fruition, although final approval would have to be sought through congress.
Plans to merge between Nafin and Bancomext were first reported in October last year, and confirmed by sources close to Mexican President Vicente Fox.
