Banorte
 |
|
| Public | |
| Traded as | |
| Industry | Finance and Insurance |
| Founded | 1899 |
| Headquarters | Monterrey, Mexico |
|
Number of locations
|
1,269 branches |
|
Area served
|
Mexico |
|
Key people
|
Carlos Hank González (Businessman) (CEO) |
| Services | commercial banking, pensions, insurance, brokerage |
| Revenue |
 Mx$ 60.3 billion (2014) US$ 4.5 billion |
|
Mx$ 15.2 billion (2014) US$ 1.1 billion |
|
| Total assets |
Mx$ 1,098 billion (2014) US$ 82 billion |
|
Number of employees
|
27,000 |
| Website | www.banorte.com |
Carlos Hank González (Businessman)
(Chairman)
Grupo Financiero Banorte, S.A.B. de C.V., doing business as Banorte and as Ixe, is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator.
Grupo Financiero Banorte operates its commercial bank under the brands Banorte and Ixe, offering savings accounts, credit cards, payday loans, mortgages, commercial loans and auto loans. Its performing loan portfolio was of US$ 35 billion in 2014. It also performs insurance, pension, leasing, and brokerage activities.
Banorte has 1,269 branches and 7,297 ATMs nationwide. It can also receive deposits through more than 5,200 commercial establishments, such as drug stores, convenience stores, and supermakets.
Grupo Financiero Banorte is listed on the , on the Latibex, and on the U.S. OTC securities market through ADRs. It is a constituent of the IPC, the main benchmark index of the , and of the S&P Latin America 40, which includes leading, companies from Latin America.
Banorte is the primary subsidiary of Grupo Financiero Banorte, one of Mexico's largest and oldest financial institutions, which has been present in Mexico since 1899. The "Banorte" trademark is a well-known mark in Mexico. The web domain name "banorte.com" was created on October 13, 1998.
It is a Forbes Global 2000 company, with more than 30 billion dollars in assets under management, 12,500 employees and 950 branches. Currently, it is the only major bank in Mexico not owned by any foreign group. Banorte, with total consolidated assets of approximately $15.1 billion, is the fifth largest bank in Mexico.
It was established in 1889 as Banco Mercantil de Monterrey and in 1985 merged with Banco Regional del Norte to form Banco Mercantil del Norte (Banorte). In late 2001, Banorte acquired Bancrecer in US$125 millions. Bancrecer had been taken over in 1999 by IPAB. Bancrecer had itself taken over another bank, Banco del Noroeste (Banoro), in 1997.
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Wikipedia