During the first half of the year, financing offered by Limited Purpose Financial Companies (Sofoles), or non-bank banks, increased by 9.1% year-on-year in real terms, while credits supplied by commercial and development banks fell 1.6%.
Mexico's largest financial group BBVA Bancomer at a Wednesday press conference unveiled a program to issue 6bn pesos (US$526m) in small business loans through October 2005 in partnership with the economy ministry.
Mexico's thir- largest bank Santander Serfin has set aside 1bn pesos (US$86.8m) for loans to small- and medium-sized enterprises (SMEs) under a new credit scoring alliance with government mortgage bank Infonavit.
The official unveiling of Mexico's newest bank, Banco Ve por Mas, on 11 October was welcome news indeed for a country whose banking sector has experienced considerable consolidation in the last 10 years.
Mexico's largest development bank Nacional Financiero (Nafin) reported first half net income of 113m pesos (US$9.9m), compared to losses of 168m pesos in the same period last year, according to data from banking authority CNBV.
Mexico's largest development bank Nacional Financiero (Nafin) reported first half net income of 113m pesos (US$9.9m), compared to losses of 168m pesos in the same period last year, according to data from banking authority CNBV.
Mexico's second largest bank Banamex has launched an online financial services portal for small and medium-sized enterprises (SMEs), the company said in a statement.
Mexico's factoring industry reported net income of 84.5m pesos (US$7.3m) in the first half of 2004, a 16 per cent decrease from the same period a year ago, according to financial system authority CNBV.
There are 16 factoring companies in the Mexican factoring market, the largest of them being Factor Banorte, Heller Financial and Transamerica Distribution Finance Fatoraje which account for 50% of the market.
Mexico's national foreign trade bank Bancomext issued US$2.1bn in loans to support export activities in the first five months of 2004, up 10% from the same period last year, the bank said in a statement.
