Banobras prioritizes credit granting in the south-southeast of the country

What finances Banobras?

With regard to priority projects, Banobras has disbursed more than 301,000 million pesos to finance projects such as the Tula and Salina Cruz refinery, internet for all, ISSSTE and IMSS hospitals, the Maya trains, the Mexico-Toluca train, and construction projects. connectivity to the AIFA and on various highways in the country.

Banobras has a direct and indicated credit portfolio of 615,000 million pesos. “All this has been achieved while maintaining a solid financial position. The bank has financial strength and a lot of credit capacity going forward”, he maintained.

Likewise, he highlighted the good performance of the delinquency index, which is 1.9%, a percentage lower than the 2.22% average of commercial banks.

During the pandemic, Banobras allocated 77,000 million pesos from the health fund for well-being for the purchase of vaccines, ventilators, medicines, Covid-19 tests; research and for the transfer of medical equipment. In addition, 10 hospitals were put into operation, seven of which were to support the health emergency.

The mission of this institution is to contribute to the sustainable development of Mexico and the well-being of its inhabitants, promoting investment in infrastructure and public services, as well as the financial and institutional strengthening of subnational entities, reads the Banobras page.

Among its objectives is to promote greater access to credit for municipal entities and the private sector, prioritizing areas with greater marginalization; promote greater financing for infrastructure projects, through credit and guarantees, as well as promote the participation of commercial banks and other private sector agents in infrastructure financing.

Banobras has become the most important issuer of sustainable -green and social- bonds in the country, stressed the CEO. The institution adds 10 issues for more than 30,000 million pesos.

Two weeks ago, for the first time, a development bank in Mexico placed two bonds for more than 4,000 million pesos with a gender perspective, for infrastructure that helps the well-being of women.

Banobras has positioned itself as the main financial tool of the Mexican government, and is the fifth largest bank in the Mexican financial system.

The National Bank of Public Works and Services, in terms of the direct portfolio, “equivalent to 2% of the country’s gross domestic product, and 7% of the Mexican banking system,” Mendoza detailed in the morning conference of President Andrés Manuel López Workshop.

He stressed that Banobras is the fifth largest bank in the national financial system, surpassing banks such as HSBC and Scotiabank. The bank has 50% of the development banking credit portfolio.