Bank of America and Bancomex: No Affiliation—Bancomex Is a Banorte Subsidiary

Bank of America and Bancomex are not affiliated.

• Bank of America: US multinational (Charlotte, NC); 2nd largest US bank.
• Bancomex (Banco Mexicano de Comercio Exterior): Mexican state-owned development bank (1937–1997), then privatized and acquired by Grupo Financiero Banorte (Mexico's 2nd largest financial group). Now operates as Banorte's corporate/international banking arm.

Confusion sources:

• Similar names ("Bank of..." / "Bancomex").
• Both do cross-border trade finance.
• Bank of America has no ownership stake in Banorte or Bancomex.

Current Mexican partners for Bank of America: Correspondent relationships with BBVA México, Santander México, HSBC México, Banorte (competitor to Bancomex).

If you need trade finance in Mexico, contact Banorte's Bancomex division or Bank of America's Global Commercial Banking team—they work with local banks, not each other directly.