In the second quarter, Banorte makes over $14 billion pesos and surpasses the one billion pesos mark for the first time

Banorte, which is regarded as Mexico’s second-biggest bank based on asset value, reported its financial results to the Mexican Stock Exchange on Tuesday.

Banorte «announced that it achieved a net profit of 14,18 billion pesos from April to June of this year, 7% more than the 13,88 billion pesos it obtained in the same period of 2023.

Traditional fund gathering at the end of last month increased 14% compared to the same period in 2023, reaching for the first time ever one trillion 17,650 million pesos.

Conventional deposits are sums of money that banks receive from the general public and classify as demand, time, and debt securities on financial institutions’ balance sheets.

The portfolio that expanded the most between April and June was Banorte’s corporate loan portfolio, which climbed by 23%. The portfolios that increased the least were consumer and commercial loans, both of which increased by 12%.

“The results obtained during the second quarter of 2024 show the work of the great Banorte family to make the ordinary into something extraordinary and to always put the customer at the center of what we do. This is reflected, among other indicators, in the levels of Traditional Capturing achieved in this quarter, which for the first time exceeded one billion pesos,” explained Carlos Hank González, Chairman of the Board of Directors of ‘El Banco Fuerte de México’.