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Borrowings and debt | 12 Months Ended
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Dec. 31, 2017
Disclosure of borrowings [Abstract] |
Disclosure of borrowings [text block] |
12. | Borrowings and debt
| 12.1 | Short-term borrowings and debt
The breakdown of short-term (original maturity of less than one year) borrowings and debt, together with contractual interest rates, is as follows:
|  | December 31, 2017 |  |  | December 31, 2016 |
Short-term Borrowings: |  |  |  |  |  |  |  |
At fixed interest rates |  |  | 429,069 |  |  |  | 788,075 |
At floating interest rates |  |  | 633,154 |  |  |  | 657,000 |
Total borrowings |  |  | 1,062,223 |  |  |  | 1,445,075 |
Short-term Debt: |  |  |  |  |  |  |  |
At fixed interest rates |  |  | 10,500 |  |  |  | 25,000 |
At floating interest rates |  |  | - |  |  |  | - |
Total debt |  |  | 10,500 |  |  |  | 25,000 |
Total short-term borrowings and debt |  |  | 1,072,723 |  |  |  | 1,470,075 |
Average outstanding balance during the year |  |  | 710,021 |  |  |  | 1,348,230 |
Maximum balance at any month-end |  |  | 1,072,723 |  |  |  | 1,876,322 |
Range of fixed interest rates on borrowing and debt in U.S. dollars |  |  | 1.60% to 1.95 | % |  |  | 1.10% to 1.50 | %
Range of floating interest rates on borrowing in U.S. dollars |  |  | 1.77% to 2.08 | % |  |  | 1.14% to 1.48 | %
Range of fixed interest rates on borrowing in Mexican pesos |  |  | 7.92 | % |  |  | 6.16 | %
Range of floating interest rate on borrowing in Mexican pesos |  |  | 7.68% to 7.89 | % |  |  | 5.72 | %
Weighted average interest rate at end of the year |  |  | 2.16 | % |  |  | 1.30 | %
Weighted average interest rate during the year |  |  | 1.66 | % |  |  | 1.10 | %
The balances of short-term borrowings and debt by currency, is as follows:
|  | December 31, 2017 |  | December 31, 2016 |
Currency |  |  |  |  |  |  |
US dollar |  |  | 1,044,500 |  |  | 1,470,000 |
Mexican peso |  |  | 28,223 |  |  | 75 |
Total |  |  | 1,072,723 |  |  | 1,470,075 |
| 12.2 | Long-term borrowings and debt
Borrowings consist of long-term and syndicated loans obtained from international banks. Debt instruments consist of public and private issuances under the Bank's Euro Medium Term Notes Program (“EMTN”) as well as public issuances in the Mexican market. The breakdown of borrowings and long-term debt (original maturity of more than one year), together with contractual interest rates gross of prepaid commission of $4,211 and $5,133 as of December 31, 2017 and 2016, respectively, is as follows:
|  | December 31, 2017 |  |  | December 31, 2016 |
Long-term Borrowings: |  |  |  |  |  |  |  |
At fixed interest rates with due dates from October 2017 to February 2022 |  |  | 44,011 |  |  |  | 61,148 |
At floating interest rates with due dates from November 2017 to March 2021 |  |  | 379,000 |  |  |  | 631,326 |
Total borrowings |  |  | 423,011 |  |  |  | 692,474 |
Long-term Debt: |  |  |  |  |  |  |  |
At fixed interest rates with due dates from March 2018 to March 2024 |  |  | 532,305 |  |  |  | 921,479 |
At floating interest rates with due dates from January 2018 to March 2022 |  |  | 187,739 |  |  |  | 167,918 |
Total long-term debt |  |  | 720,044 |  |  |  | 1,089,397 |
Total long-term borrowings and debt |  |  | 1,143,055 |  |  |  | 1,781,871 |
Less: Prepaid commission |  |  | (4,211) |  |  |  | (5,133) |
Total long-term borrowings and debt, net |  |  | 1,138,844 |  |  |  | 1,776,738 |
Net average outstanding balance during the year |  |  | 1,477,788 |  |  |  | 1,874,435 |
Maximum outstanding balance at any month – end |  |  | 2,010,078 |  |  |  | 2,054,138 |
Range of fixed interest rates on borrowing and debt in U.S. dollars |  |  | 1.35% to 3.25 | % |  |  | 2.85% to 3.75 | %
Range of floating interest rates on borrowing and debt in U.S. dollars |  |  | 2.61% to 3.01 | % |  |  | 1.66% to 2.49 | %
Range of fixed interest rates on borrowing in Mexican pesos |  |  | 4.89% to 9.09 | % |  |  | 4.75% to 8.90 | %
Range of floating interest rates on borrowing and debt in Mexican pesos |  |  | 7.99% to 8.00 | % |  |  | 6.19% to 6.54 | %
Range of fixed interest rate on debt in Japanese yens |  |  | 0.46% to 0.81 | % |  |  | 0.46% to 0.81 | %
Range of fixed interest rate on debt in Euros |  |  | 3.75 | % |  |  | 3.75 | %
Range of fixed interest rate on debt in Australian dollar |  |  | 3.33 | % |  |  | 3.33 | %
Weighted average interest rate at the end of the year |  |  | 3.60 | % |  |  | 2.98 | %
Weighted average interest rate during the year |  |  | 3.43 | % |  |  | 2.84 | %
The balances of long-term borrowings and debt by currency, is as follows:
|  | December 31, 2017 |  | December 31, 2016 |
Currency |  |  |  |  |  |  |
US dollar |  |  | 753,981 |  |  | 1,392,995 |
Mexican peso |  |  | 206,750 |  |  | 219,347 |
Japanese yen |  |  | 98,711 |  |  | 95,238 |
Euro |  |  | 60,178 |  |  | 52,574 |
Australian dollar |  |  | 23,435 |  |  | 21,717 |
Total |  |  | 1,143,055 |  |  | 1,781,871 |
The Bank's funding activities include: (i) EMTN, which may be used to issue notes for up to $2.3 billion, with maturities from 7 days up to a maximum of 30 years, at fixed or floating interest rates, or at discount, and in various currencies. The notes are generally issued in bearer or registered form through one or more authorized financial institutions; (ii) Short-and Long-Term Notes “Certificados Bursatiles” Program (the “Mexico Program”) in the Mexican local market, registered with the Mexican National Registry of Securities maintained by the National Banking and Securities Commission in Mexico (“CNBV”, for its acronym in Spanish), for an authorized aggregate principal amount of 10 billion Mexican pesos with maturities from one day to 30 years. Some borrowing agreements include various events of default and covenants related to minimum capital adequacy ratios, incurrence of additional liens, and asset sales, as well as other customary covenants, representations and warranties. As of December 31, 2017 the Bank was in compliance with all covenants. The future payments of long-term borrowings and debt outstanding as of December 31, 2017, are as follows:
Payments |  | Outstanding |
2018 |  |  | 139,070 |
2019 |  |  | 357,434 |
2020 |  |  | 375,592 |
2021 |  |  | 200,731 |
2022 |  |  | 10,050 |
2024 |  |  | 60,178 |
|  |  | 1,143,055 |

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