Having a specialized bank in Mexico is not easy, especially since the offer of products and services becomes limited. However, there are markets like the real estatewhere a bank can participate and also offer products to the general public.
According to the Mexican Real Estate Bank (BIM), chaired by Víctor Manuel Requejo and directed by Rodrigo Padilla, its offer is not only focused on financing developers within this market, but also on fundraising through investment instruments and trust management.
This, according to BIM, has allowed it to finance around 113,650 households in its history dating back to 2009, but in 2013 it was authorized by the National Banking and Securities Commission to operate as a multiple banking institution.
“Due to the products and services offered by the financial institution presided over by Mr. Víctor Manuel Requejo Hernández, among them, investments in wealth banking and trusts, businessmen specialized in this field and the general public, manage to access the portfolio that BIM has designed for nearly a decade,” the firm said in a statement.
For the bank, this is possible thanks to the importance of real estate industry currently, which in 2021 represented 11.1% of the national GDP, which for the entity is a high number and which demonstrates a clear recovery despite the pandemic that the world is still going through.
Within wealth banking, he captures resources with different products that can give returns of up to 7.10% annually. As of last January, the entity registered a deposit of 7,317 million pesos, most of it concentrated in time deposits from the general public.
This collection of resources from the bank, allowed it to have a placement of more than 9,500 million pesos during 2021 for real estate developmentsthat is, an increase compared to the 6,061 million pesos of 2020.
Currently, the bank has a portfolio close to 7,372 million pesos, with a default rate of 5.87 percent.
It is expected that in the coming days, the director of the institution, Rodrigo Padilla, will present a report on the results of the first quarter of the year and thus report on his expectations during this 2022.