COFIDAN

In light of Article 117, Section VIII, of the Mexican Constitution, the Mexican Ministry of Finance and Public Credit (SHCP) determined that creating a financial institution would be the best mechanism for channeling NADBank loans to state and local public entities in Mexico. Therefore, on October 15, 1998, the Corporación Financiera de América del Norte, S.A. de C.V. SOFOL (COFIDAN) was legally incorporated in Mexico. Unlike NADBank, which is an international organization, COFIDAN is a Mexican company.

By a decision of its shareholders, on October 20, 2006, COFIDAN became a non-regulated, multipurpose financial institution—known by its Mexican acronym as a “SOFOM”—which allowed it to continue carrying out its mandate while streamlining its administrative processes and requirements. Consequently, as of the above date, the company’s name was modified to Corporación Financiera de América del Norte, S.A. de C.V. SOFOM, E.N.R. (COFIDAN).

COFIDAN’s management and administration is entrusted to a Board of Directors composed of NADBank officers.

COFIDAN and NADBank work in coordination during the project development process. Once the NADBank Board of Directors authorizes a loan for a project sponsored by a Mexican state or municipal government or other local public entity, the funds are channeled through COFIDAN, which enters into a loan agreement with the project sponsor. COFIDAN and NADBank also work together during the disbursement and repayment phases of the loan, supervising the proper use of the funds

The Mexican national bureau of financial entities, Buró de Entidades Financieras (Buro), is a tool for disseminating information about the products offered by financial institutions in Mexico, their fees and rates, user complaints, unsound practices, administrative penalties imposed, abusive contract clauses and other relevant information about their performance.

Through the Buro, you can learn who's who in banks, insurance companies, multi-purpose financial institutions, savings banks, pension funds and other entities. This information allows you to compare and evaluate financial institutions and their products and services, to help you choose the best option for you. This information is useful for choosing a financial product, as well as for better understanding and using the products you already have.

The Buro is a tool that can contribute to the economic growth of Mexico by promoting competition among financial institutions, promote transparency through by disclosing information to clients about the performance of these institutions and the products they offer, and facilitate responsible management of financial products and services by providing detailed information about their characteristics.

This knowledge could lead to greater social well-being. By bringing together such diverse information about the financial system in a single database, people will have more tools to optimize their budget, improve their personal finances, properly use loans that will strengthen their economy and obtain insurance that protects them, among other factors.

The Buro contains information about Corporación Financiera de América del Norte, S.A. de C.V., S.O.F.O.M, E.N.R., E.N.R. (COFIDAN), regarding our performance in providing products and services to clients. The information available at the following link corresponds solely to COFIDAN: http://www.buro.gob.mx

We invite you to consult the information in the following webpage http://www.buro.gob.mx or in our site: https://nadbank.org/cofidan

To access the information corresponding solely to Corporación Financiera de América del Norte, S.A. de C.V., S.O.F.O.M, E.N.R., and learn about the entire sector to which it pertains, visit: http://www.buro.gob.mx.