Following its March earnings of US$ 778 million, Mexican bank Banorte saw a 5% increase in the stock market
The Mexican bank Banorte said that it made a net profit of US$ 778 million in the first quarter of this year, which is 8% more than it made in the same period last year. The news caused the bank to gain more than 5% on the stock market, surpassing US$ 8.44.
The group led by Carlos Hank González had a 10% increase in revenue year over year to US$ 2,065 million. Net interest income by segment increased to US$ 1,836 million, a 4% increase from the first quarter of 2024.
In January and March of the previous year, non-interest income was $229 million, which was quadruple that amount.
Operating income increased 8% year-on-year to US$1.074 billion, compared to the first three months of 2024.
The commercial loan portfolio reached US$ 15.291 billion in the first quarter of the year, an annual increase of 16%.
The corporate portfolio reached US$ 11,304 million, an increase of 26% over the same period.
The government portfolio reached US$ 9,070 million, 1% more than in the first quarter of 2024.
