Mexico City. The reduction in interest rates, which the Bank of Mexico (BdeM) has already initiated, is in favor of increasing credit and reducing the difficulties in meeting the debts of medium-sized companies in Mexico; every time he nearshoring and the growth of services maintain the dynamism of financing, stated Miguel Ángel Gomez, co-founding partner and director of investor relations at Altum Capital.
He explained that the challenges regarding interest rates have been mitigated since the reference rate began to be lowered, currently at 10.50 percent. And the equilibrium interbank interest rate (TIIE), representative of credit operations between banks calculated by the Bank of Mexico, was above 11 percent a few months ago, which makes it difficult for companies to meet their debt. Only when Altum Capital started operations in 2014, the TIIE was 3.5 percent.
Within the framework of Altum Capital’s GritoBiva, for the issuance of trust stock certificates for up to 517 million pesos, in the Institutional Stock Exchange (Biva), which is a complement to a program of three billion pesos, where it has already been accumulated 1,517 million pesos, Gómez explained that the change of government represents a certain uncertainty, but it has not slowed down the dynamism of the economy, there are phenomena that range from nearshoring to the growth of the middle class and additional services, which have grown a lot in the country.
“Non-banking financial companies remain active, mainly in the leasing sector. Also the health, consumption, transportation, logistics, and even agriculture sectors are maintained; Although there is a bit of caution due to the change of government, the dynamism continues. For this reason, it was possible to raise this capital, like the other, for a larger amount in the private sector (for one billion pesos), to continue taking advantage of custom-made credit opportunities for companies,” said the executive.
He explained that the amount of loans granted to medium-sized companies ranges from 80 million pesos to 300 million pesos, which allows them to have diversified portfolios in investment portfolios.
“We are reaching a portfolio of 6 billion pesos and by the end of 2024 we would be reaching 6.4 billion, this includes dollar strategies for the export sector.”
Miguel Ángel Gómez highlighted Altum’s participation in the renewable energy sector, in which they have participated since 2017, highlighting the customized solution they offer, by participating through a trust in the account receivable, and not necessarily the assets. physical assets that a company has: “it is extremely attractive for medium-sized companies in Mexico,” guaranteed the manager of the firm that offers flexible and tailored credits in pesos and dollars, mainly with a fiduciary guarantee.
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#rates #nearshoring #maintain #dynamism #finance #Altum #Capital
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