With more than 24 years of experience in
Mexico, Banco Latinoamericano de
Comercio Exterior (Bladex) is moving forward with its strategy to
deepen its presence in the country. The expansion of its new
offices, the strengthening of its commercial team and its annual
disbursements of almost US$5 billion position Bladex as a key
player in the growth of Mexican companies. Bladex has been listed
on the New York Stock Exchange since 1992 and has been one of the
most active issuers on the Mexican Stock Exchange for more than 12
years.
MEXICO
CITY, July 22, 2024 /PRNewswire/ -- To
strengthen its presence in the Mexican market, Banco
Latinoamericano de Comercio Exterior (Bladex) has undertaken a
series of activities to send a clear message of its commitment to
the country.
Bladex is a multinational bank that began
operations in 1979 with the purpose of promoting foreign trade and
economic integration in the region. It has been listed on the
New York Stock Exchange (symbol: BLX) since 1992 and its
shareholders include central banks, banks, and government entities
from 23 Latin American countries, as well as financial
institutions, institutional investors and individuals.
For Bladex, Mexico represents nearly 15% of the bank's
exposure and is the only country in which it maintains local
currency loans, with significant growth in new business,
syndications and disbursements, which currently exceed US$5 billion per year.
Miguel Heras,
Chairman of Bladex's Board of Directors, emphasizes the bank's
commitment to Mexico. "In its
5-year business plan, Bladex has chosen Mexico as a pillar of its growth in the
region, strengthening its commercial teams and strategic alliances
with partners. We have three Mexican directors on our Board of
Directors and have established a strategic alliance with the
country's development banks.
"Bladex has a clear strategic focus on growing in
the coming years with each of our clients, supported by our
shareholders and the enthusiasm of investors who see us as a solid
institution with a great future."
In this sense, Bladex expects to grow
steadily in Mexico in the coming
years, based on its track record of more than 24 years in the
country, over 12 years as an issuer on the Mexican Stock Exchange
and a broad portfolio of clients from diverse productive sectors
such as oil & gas, airlines, manufacturing, financial services
and automotive, among others.
Bladex's Board of Directors met in Mexico City on July
15th for the inauguration of its new offices, an event that
brought together important personalities from the Mexican business
and financial sectors, a clear endorsement of the bank and its
growth plan for the coming years in the country.
Jorge Salas, CEO
of Bladex, emphasized that "The results of this joint commitment to
the Mexican market are evident in the diversified loan portfolio,
which has grown by 45% in the last 18 months, adding new clients in
the construction, energy, finance, auto parts and project finance
sectors, and achieving an all-time record in revenues for Bladex
Mexico."
Bladex has completed significant transactions in
the country, the most recent of which include leading the
acquisition finance of Interceramic for US$665 million, the private securitization of
Engen for US$150 million, assisting
PEMEX in the refinancing of its US$8.3
billion debt, leading the acquisition finance of Trimex for
US$300 million and participating in
the first project finance in Mexico with ENGIE's Energía Mayakán, among
others. Bladex has also been one of the top 10 most active issuers
in the Mexican debt market in recent years.
Jorge Güémez, Country Manager of Bladex Mexico,
commented: "Bladex remains firmly committed to helping Mexican
companies and industries finance their growth, diversification and
regional expansion through our extensive experience and knowledge
of the region with names such as Lamosa, Trimex, Pemex, Cemex, etc.
We also support the onboarding and expansion of Latin American
clients in Mexico, including
companies such as Carvajal, Bia Foods and Nubank, among others. The
recent agreement with Banco Nacional de Comercio Exterior S.N.C.
(Bancomext) will undoubtedly be a catalyst in achieving this
goal.
"In addition, we are an active participant in the
largest marketplace for vendor invoice discounting in Mexico. We have strengthened our commercial
team, developed strategic partnerships, and actively collaborated
with various Fintech platforms to expand and diversify our product
offering and reach more clients and industries. Mexico has put its trust in Bladex and Bladex
has trusted Mexico."
On July 24, Bladex
will hold its traditional market call to present its second-quarter
results. "We have had great support from investors and analysts who
have begun to follow our performance and continue to recommend
buying our stock," concluded Jorge
Salas.
Contact:
Jorge Guemez – Country Manager of
Bladex Mexico
E-mail address: jguemez@bladex.com
Tel: + 52 (55) 5280-0822
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)