During the Forum of the Mexican Association of Specialized Financial Institutions AMFE 2022the general director of Trusts Instituted in Relation to Agriculture (Fira), Jesús Alan Elizondo Flores, stressed that he sees an opportunity to collaborate with small financial intermediaries through a grouping scheme, indicated that the measure would add these entities to others similar as the Multiple Purpose Financial Companies (Sophomes).
According to what Elizondo stated, in the organization that he presides over, the entities that have the greatest participation of financial intermediaries are the sofomes, a situation that is repeated in Nacional Financiera (Nafin) and the National Bank for Foreign Trade (Bancomext). The three organizations seek to increase the participation of financial intermediaries.
It would be very easy for us to remain in high-volume financing, this implies a lot of effort from intermediaries and from FIRA, to open more channels in the center, this is what the sector was asking for, this is the demand that we have heard over the years, this is a way to deliver”, commented Elizondo.
In that sense, Fair highlighted the participation of 10 financial intermediaries, in three groups, the first of which is made up of a sofom, a credit union and a sofipo, the second is made up of four sofomes, the third group is made up of 3 sofomes, whose ceiling Total authorized number of intermediaries is more than 1,500 million. The first group of intermediaries began operations in July 2022.
Previously in August, the Association of Sofomes (Asofom) together with Fira, announced a collaboration to integrate four Asofom partners in a pilot program of “Financial Intermediaries in Development”, to facilitate the delivery of credits to the beneficiaries of the trust.
According to what was reported by Asofom, the mechanism was the first in which a development bank promotion institution collaborated with the association, the program was made up of 470 million pesos so that the sofomes Capem, Dinercap, Atrevus and Don Apoyo, to finance the agricultural sector.
On the other hand, Luis Antonio Ramírez Pineda, general director of Nafin and Bancomextpointed out that together the two institutions he heads have 158 financial intermediaries, of which the largest non-bank segment is occupied by the Sofomes, with 34 participating entities, over 10 credit unions, five popular financial companies and lessors, four financiers, a fund and a public entity.
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