Solid business stability as the third largest public bank in Mexico and among the 10 overall largest banks in the country; Despite aggressive growth, asset quality metrics continue to be better than the industry norm; Adequate funding and liquidity metrics that reflect ongoing government support for daily operations, despite the lack of retail deposits; and A guarantee from the federal government for all its financial obligations. This guarantee provides more flexibility to obtain financial sources. Loan portfolio concentrated in the commercial and corporate segment; and The aggressive growth of the loan portfolio could pressure the currently adequate capitalization levels. Our stable outlook on Mexico-based development bank Banco Nacional de Comercio Exterior S.N.C. (Bancomext) reflects that on Mexico, as well as
