Bancóldex issues US$82mn in international loans

Colombia's export development bank Bancóldex issued US$82mn in international loans during the first ten months of 2004, a 95% jump compared to the same period last year, the bank said in a statement. Bancóldex's international business during 2004 included operations in Venezuela, Ecuador, the US, Panama, Peru, Uruguay, Mexico, the Dominican Republic, El Salvador, Bolivia, Honduras, Puerto Rico, Israel, Costa Rica and Chile. The total number of international banking operations conducted by the bank through October this year rose to 841 from 527 during the same period 2003. Bancóldex previously reported a 30% increase in accumulated net profits to 35.9bn pesos (US$14mn) through September this year compared to the same period 2003. The bank issued 1.5tn pesos in total loans this year through September 42% of which was directed to micro-, small- and medium-sized enterprises. Bancóldex is a state-run export development bank that focuses its activities on boosting export activities of micro-, small- and medium-sized enterprises.