Countercyclical operations that will help the bank expand its loan portfolio during the current financial stress. Higher financial flexibility as a result of its critical role to the Mexican government. Solid business stability as the third-largest public bank in Mexico and among the 10 largest banks in the country. Concentrated loan portfolio in the commercial and corporate segments, with exposure to vulnerable sectors in the current pandemic. Lack of retail deposits, although guarantees by the federal government allow the bank access to various funding sources. Aprovechamientos (expenses paid to the government) could put pressure on the current capitalization levels if they are not capitalized back to the bank. S&P Global Ratings' negative outlook on Banco Nacional de Comercio Exterior S.N.C.
