Mexico

A new system for the access of SME finance has been devised jointly between the Mexican telecommunications enterprise Telmex and the commercial bank Banco Inbursa

Grupo Financiero HSBC, S.A. DE C.V's Commercial Banking total operating income increased 2.5% compared to same period in 2007.

Credit granted by Mexico's commercial banks to the private sector rose 24.5% in real terms to pesos1.57tn (US$147bn) at end-February.

For the nine months ended 30 September 2007, Grupo Financiero HSBCs net income was 10.8%, lower than the same period in 2006.

Sofoles posted first half net profits of pesos2.99bn (US$277m), a 2.77% rise over 1H06.

Mexico's largest bank BBVA Bancomer is aiming for US$636m in new SME loans this year to expand its loan book to some US$1.77bn by year-end.

Mexico's factoring companies recorded earnings of pesos 268m last year, up 5% on 2005. Factoring companies saw their loan portfolios dip by 4% to pesos15.3bn at end-2006 over end-2005.

The Mexican office of Standard Poor's (S P) has assigned its mxAA counterparty and financial strength national scale ratings to the Mexican unit of Dutch insurance group Atradius,

The deregulation of credit, financial leasing and factoring activities in Mexico will have a major impact on both buyers and sellers of credit and debt, write lawyers  

The International Finance Corporation (IFC), the private sector arm of the World Bank, says it will invest as much as US$45m in Mexico's Banco del Bajio. The equity investment will help Bajio to expand its lending