Nacional Financiera, S.N.C., (Nafinsa or the Institution) is a Development Banking Institution that operates in accordance with the rules of its own Organic Law, in accordance with the Law of Credit Institutions, and the rules issued by the National Banking Securities (NBSC).
The objectives of Nafinsa are to promote the overall development and modernization of the industrial sector with a regional approach; stimulate the development of financial markets and act as financial agent of the Federal Government in the negotiation, contracting and management of credits from abroad.
Nafinsa carries out its operations in accordance with financing criteria applicable to development banks, channeling its funds mainly through commercial banks and non-banking financial intermediaries. The principal sources of Nafinsa’s resources are loans from international development institutions such as the International Bank for Reconstruction and Development (IBRD) and the Inter-American Development Bank (IDB), lines of credit from foreign banks and the placement of securities in the international and domestic markets.
As of December 31, 2001, the operating structure of Nafinsa abroad includes two branches: one in London, England and another in Grand Cayman; two representative offices in Washington and Tokyo and a subsidiary established in New York.
Article10 of Nafinsa’s Organic Law establishes that the Nation will respond at all times for the transactions carried out by Nafinsa with the guarantee of the Federal Government, for transactions with foreign institutions and for the deposits received in terms of such Law.
Since 1934 Nafinsa has played a leading role for in the diversification and expansion of Mexico's industrial base in accordance with Mexican social and economic goals.
Following the aftermath of the Mexican Revolution, the 30s and 40s saw an economy in need of deep reconstruction changes and Nafinsa served a key role in these difficult times.
From the 50s to 70s, when a policy to substitute imports and closed economic growth was in force, the Institution became Mexico's chief mechanism for financing large infrastructure projects and industrial plants.
Since then, Nafinsa's efforts have been directed to develop a solid financial system and improved financial intermediation by promoting domestic savings towards further new investment in the industrial, commercial and service sectors.
Today, the worldwide global economic strategy has resulted in Mexico's development banking system becoming specialized and the role of participating institutions, particularly Nafinsa, is to support the modernization of key economic sectors, and to promote them in the world markets.
Nacional Finaiciera experienced an important process of change in all its businesses and operating areas. The above was reflected in the attainment and surpassing of the goals programmed for the year.
This process of change was manifest in the Bank’s operation and management and its detonating element was the redefinition of the institutional Mission and Vision, where, for the first time, preeminence was given to orientation to the client: the small and medium-sized Mexican companies.
In order to strengthen the credit and financial operation, the following strategies were prompted:
Equally important was transforming the internal management of Nafinsa, on the basis of:
A result of this process is that at the close of the fiscal year the organizational structure included 1,391 employees, 12% less than in the year 2000.