TIMELINE
1957: Istituto Mobiliare Italiano (IMI) representative office opened in Mexico City.
1970: Banca Commerciale Italiana(BCI) representative office opened in Mexico City.
1983: IMI representative office closed, but Mexican presence continued as IMI International Holding SA Luxembourg.
1994: Istituto Bancario San Paolo (IBSP) representative office opened in Mexico City.

Following a mission by Istituto Mobiliare Italiano (IMI) managers Guido Tonello, Astorre Oddi Baglioni and Giorgio Cappon to Mexico, Peru and Colombia, in January 1956 IMI signed an agreement with Nacionál Financiera SA (Mexico City) in which it committed to take on the refinancing, using bills of exchange, of the deferred payments granted by Italian exporters to Mexican importers. On 5 April 1966, as part of the World Bank's "parallel financing" program, the two institutions also made a financial agreement worth more than 6 billion Lire for Mexico's Electric Power Project, thereby directly involving IMI in the development of the country's electricity production and distribution.
In addition to these partnerships, in 1957 IMI also decided to establish a representative office in Mexico City so as to have a direct presence in the country. In 1983 this office was replaced by an IMI International Holding SA Luxembourg representative office that supported IMI with its operations on international financial markets, particularly in Latin and Central America.
In the 1950s Banca Commerciale Italiana (BCI) also became interested in Mexico. It sent Alberto Righi, who worked with BCI's International Division, to the country's capital city to reach agreements with the country's banks, in particular with Banco Comercial Mexicano regarding the creation of a local finance company. However, BCI established a direct presence in the country only in 1970, with the opening of a representative office in Mexico City.
To the end of strengthening its own activities in the Americas, Istituto Bancario San Paolo, too, opened a representative office in Mexico City in 1994, the year in which the North American Free Trade Agreement (NAFTA) between Mexico, the United States and Canada came into force.

ASI-IMI, VCE; January 1, 1956; vol. 18, pp. 144-145
ASI-IMI, Statutory Bodies Secretariat, International Agreements, Agreements with Foreign Countries, Numbered Series, b. 13