Washington, D.C., November 7, 2011—IFC,
a member of the World Bank Group, today announced that Banco del Bajío
S.A., known as BanBajío, has joined its Global Trade Finance Program to
expand access to trade finance for small and medium enterprises in Mexico.
IFC’s Global Trade Finance Program
supports trade with emerging markets worldwide by providing partial or
full guarantees for risk mitigation.
“This new relationship with the IFC
Global Trade Finance Program will help us increase our capacity to provide
trade financing to our small and medium enterprise clients and also increase
access to new markets around the world,” said Carlos de la Cerda Serrano,
CEO of Banco del Bajio.
By joining IFC’s trade finance program
as an issuing bank, BanBajío will be able to expand trade-finance solutions
to small and medium enterprises in key export and import sectors. BanBajío,
founded in 1994 in the city of León, is a regional bank with significant
presence in the northern, western, and central regions of Mexico. It is
the first bank in Mexico focused on the small- and medium-enterprise market
to join the program.
“We welcome BanBajío to IFC’s Global
Trade Finance Program,” said Roberto Albisetti, IFC Country Manager for
Mexico and Central America. “This deal is an example of IFC’s efforts
to provide integrated solutions for financing importers and exporters,
and our institution’s commitment to strengthen and foster the development
of the Mexican financial market.”
IFC’s Global Trade Finance Program
has issued more than $3.9 billion in guarantees to facilitate trade flows
in Latin America and the Caribbean since its inception in the region in
2006. IFC’s network in the region includes 58 issuing banks in 21 countries.
Nearly 70 percent of the guarantees benefited local small and midsize businesses
and supported interregional trade flows among emerging-market nations.
The program has issued $12 billion in guarantees worldwide. Latin America
and the Caribbean has been the most active region for the past three fiscal
years, representing about a third of the program’s global volume.
For more information about the program,
contact Antonio Alves, Principal Investment Officer, Short-Term Finance
Department, Latin America and Caribbean Region, at Aalves1@ifc.org,
or visit www.ifc.org/gtfp.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org.
About Banco del Bajío
BanBajío is a regional bank with 263
branches around the country. It focuses on three principal business lines—small
and medium enterprises, agribusiness, and commercial banking. With total
assets and equity of $7.08 billion equivalent and $866 million respectively,
BanBajío is the eighth-largest bank in Mexico in terms of total assets
and total loan portfolio. The bank was built with the support of a strong
group of senior executives recruited from leading Mexican banks, most of
whom are still working for BanBajío. For more information, visit