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Mexico

SMEs made up 90% of companies closed in 2003

Luis Antonio Mahbub Sarquis, president of the Chambers of Commerce Federation (Concanaco), said that 3,600 companies in Mexico were forced to stop operating in 2003 due to market problems, administrative difficulties and the lack of programmes to maintain jobs. Mahbub...

Mexico praised for lending to small businesses

Hector Barreto, administrator of the US Small Business Administration (SBA), praised Mexico's commitment to helping small enterprises on Tuesday. He…

#bank#guarantee#guarantees


President urges bankers to accelerate lending to support economic...

Mexico's President Vicente Fox wants bankers to speed-up lending to support a nascent economic recovery, he told the Mexican Banking…

#bank#banks#conference


4,000 companies closed in 2003

Sergio Garcнa de Alba, under secretary for small- and medium-sized enterprises (SMEs) of the Economy Secretariat, reported that 4,000 SMEs…


Delay in new law affects financial intermediaries negatively

The delay by the Treasury Secretariat in defining a new law has setback the plans of specialised financial intermediaries, according…


New competitor enters SME finance sector

A new Germany-based company will soon join the local banking sector when it opens the first Mexican office of Deutsche…


Leasing finance companies set for lending boom

Mexico's financial leasing companies should issue 12bn pesos (US$1.09bn) in new loans in 2004, up 71% from an estimated 7bn…


Factoring companies report Q3 profits up 30%

Mexico's 16 factoring companies reported consolidated net income of 153m pesos (US$14m) during the third quarter of 2003, up 30%…


Moody's rating for Banorte factoring and leasing subsidiaries

The Mexican subsidiary of international ratings agency Moody's has assigned the factoring and leasing subsidiaries of local financial group Banorte…

#bank#international#leasing


Government keeps door open to Bancomext-Nafin merger

Mexico's government has kept the door open to a possible merger involving Ex-Im bank Bancomext and small business development bank…

#bank#banks#small business


No significant increase in 2004 budget for SMEs

Although the budget assigned to the Under-secretariat of Small- and Medium-Sized Enterprises (SMEs) of the Economy Secretariat will be similar…


TMM closes extra certificates under receivables securitisation programme

Mexican transport conglomerate Grupo TMM has closed a further US$25 million of certificates under a receivables securitisation programme, worth a…

#bank#commercial finance#receivables

Amef predicts good year for leasing companies in 2004

Mexico's financial leasing companies are in for a good year in 2004 irrespective of whether congress approves fiscal and energy…

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