Banorte received good news
The good news for Banorte is that Moody’s Ratings increased its credit rating from ‘Baa2’ to ‘Baa1’ because of its ability to withstand losses. As of June 2024, the bank led by Carlos Hank González has a sizable amount of loss-absorbing securities on hand, or 6.7% of its total assets. Additionally, Banorte’s outlook was modified from «positive» to «stable,» emphasizing the company’s strong profitability and high capitalization levels.
