Banorte achieves historic profit levels in 2024

Banks listed on the Mexican Stock Exchange (BMV) recorded historic profits in 2024, driven by high interest rates and the exchange rate. Their shares also have a double-digit increase this year.

According to financial information issued in the BMV, the group of seven financial entities in the country accumulated profits for 120,611 million pesos, which means an increase of 9.39% last year, with respect to the 110,253 million pesos obtained during 2023.

One of them was Banorte, led by Carlos Hank, which obtained net profits of 56,188 million pesos, reaching its highest level ever. This was equivalent to an increase of 7.19%, or 3.77 billion pesos, compared to the previous year.