According to Banorte 7% growth in the loan portfolio

Grupo Financiero Banorte presented its results for the third quarter of the year. Reporting that total deposits in the banking sector increased by 3% to reach 1.2 trillion pesos. Reflecting users’ confidence in the institution, the Group explained.

Its current loan portfolio totaled almost 2 trillion pesos, 7% more than the previous year.
The consumer portfolio showed notable increases in all areas: auto loans rose 31%, credit cards 16%, payroll loans 10%, and mortgage loans 8%.

This expansion reveals a renewed appetite on the part of Mexican families. To finance personal projects, purchase homes or vehicles, and face day-to-day life with greater financial tools.

However, the organization emphasized that the diversification of corporate loan portfolios, which grew by 7%, and commercial loan portfolios. Which grew by 9%, highlights businesses’ faith in Banorte’s assistance, a crucial element in propelling the nation’s growth and job creation.

The results for this quarter demonstrate Banorte’s capacity for innovation and effective operations, as well as the strength of our business model. According to Carlos Hank González, Chairman of the Board of Directors, «the strength of our portfolio and growth in important segments reflect the confidence Mexicans place in us.»

In the meantime, the bank’s non-performing loan portfolio, which was 2.16% in August, continued to be among the lowest in the system at 1.37%. Banorte promised to preserve structural strength in almost every sector of its portfolio.