Banco Nacional de Mexico

completed

Summary Of Project Information (SPI)Project NameMexico-Banco Nacional de MexicoLoan Restructuring FacilityRegionLatin America and the CaribbeanSectorProject No007527Projected Board DateJune 18, 1996Company NameBanco Nacional de MexicoTechnical 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, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365