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KfW IPEX-Bank opens representative office in Mexico
Frankfurt am Main (ots) -
- KfW IPEX-Bank opens its 10th international representative office in an important regional economic and financial centre - Growth market of Mexico an important destination for German and European exports and investment
KfW IPEX-Bank is commencing operations in Mexico as of now. The new representative office in Mexico City officially opened yesterday with a reception for customers. "Mexico is our second base in North America alongside New York. The country is an important manufacturing location for NAFTA countries, and therefore also presents potential for growth to German and European exporters and investors. We see a lot of options for new lending operations. Some of these have substantial volumes, as a result of which we would especially like to tackle them in partnership with other banks - for the benefit of German and European industry," said Klaus R. Michalak, CEO of KfW IPEX-Bank.
Since this year, international companies have been allowed to invest directly in oil and gas extraction in Mexico, a previously state-owned sector. Thanks to the structural reforms of recent years, Alex Wegenast, Director of KfW IPEX-Bank's new office, expects the opportunities for investment to increase: "We anticipate new business here, especially for companies operating in the fields of exploration and the petrochemical sector, as well as their suppliers. The expansion of extraction activities will also place higher demands on the transport and logistics infrastructure. We can now offer our customers local support in order to promote their business."
At the end of 2014, the Mexican regulatory authorities granted KfW IPEX-Bank a licence to open a representative office, meaning that the office could already start arranging its first transactions. With the addition of the office in Mexico City, KfW IPEX-Bank now operates ten representative offices around the world alongside its headquarters in Frankfurt am Main and branch office in London: Abu Dhabi, Bangkok, Istanbul, Johannesburg, Mexico City, Moscow, Mumbai, New York, São Paulo and Singapore.
The opening ceremony in the metropolis with 20 million inhabitants, held at the historical Hacienda de los Morales in the heart of the Polanco business quarter, was attended by high-ranking representatives of German business as well as Viktor Elbling, the German Ambassador to Mexico, Dr Ulrich Schröder, CEO of the KfW Group, Klaus R. Michalak, CEO of KfW IPEX-Bank and Markus Scheer, Member of the Management Board of KfW IPEX-Bank.
More information about KfW IPEX-Bank's representative office in Mexico: http://ots.de/LBiN9
About KfW IPEX-Bank GmbH
Within the KfW Group, KfW IPEX-Bank is responsible for international project and export finance. Its function of providing financing to boost the German and European economy is derived from the legal mandate assigned to KfW. It offers medium- and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling KfW's promotional mission. It is represented in the most important economic and financial centres across the globe.
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: Thomas.Krick@kfw.de
Tel. 069 7431-8454, Fax: 069 7431-9409, E-Mail: Thomas.Krick@kfw.de,