Summary of Proposed Investment
Project Number
7527
Company Name
BANCO NACIONAL DE MEXICO SA
Date SPI Disclosed
Feb 5, 2010
Country
Mexico
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jun 25, 1996
Signed : Nov 18, 1997
Invested : Nov 26, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Mexico-Banco Nacional de Mexico |
| Loan Restructuring Facility |
| Region | Latin America and the Caribbean |
Sector
Project No007527
Projected Board DateJune 18, 1996
Company NameBanco Nacional de Mexico
Technical Partner and/or Major Shareholders
Banco Nacional de Mexico is the largest commercial bank in Mexico with assets of approximately US$28.5 billion and a net worth of US$2.4 billion as of March 31, 1996.
Project Cost Including proposed IFC investment
The total size of the Facility is expected to range between $200-300 million. IFC own investment will range between $75-100 million. The rest of the financing will be arranged by way of a syndicated IFC B Loan.
Location of project and Description of site
Mexico.
Description of Company and Purpose of Project
Banamex is Mexico’s largest commercial bank offering the full range of banking and financial services to a broad spectrum of corporate as well as retail customers throughout Mexico. Banamex’s clients include a large number of potentially viable middle market companies which have been adversely affected the by the economic crisis that followed the Peso devaluation. Through this project IFC will provide substantial long-terms funds, not otherwise available to Banamex, for on-lending to such middle market companies as part of their financial Restructuring and restoration to normal operations. The Facility will also help in the development of domestic asset-securitization capacity in Mexico.
Environmental Category and Issues
This is an environmental review category Financial Intermediary project. Companies receiving financing under the project through Banamex will be required to be in compliance with relevant environmental, occupational health and safety guidelines of the World Bank and the Government of Mexico.
| Date SPI sent to PIC | May 18, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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