Bladex Continues Its Expansion In The Mexican Market

(MENAFN- PR Newswire) 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:
[email protected]
Tel: + 52 (55) 5280-0822

SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)

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