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Mexico's Banorte Q4 profit climbs 5% on loan book growth
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Mexico's Banorte Q4 profit climbs 5% on loan book growth
Jan 28, 2025 2:39 PM

MEXICO CITY, Jan 28 (Reuters) -

Mexican lender Banorte on Tuesday posted a 5%

climb in its fourth-quarter net profit, boosted by growth in its

loan book across sectors.

Banorte's net profit hit 13.72 billion Mexican pesos

($657 million), in line with the 13.81-billion-peso estimate

from analysts polled by LSEG.

Quarterly revenue for the group, which owns one of the

country's largest banks and pension funds, was up 9% to total

38.18 billion pesos, in line with analysts' forecast of 38.89

billion pesos.

In a presentation, Banorte said its total loans (stages

one and two) grew 14.3% year-on-year in the quarter, led by

corporate loans which were up 23.6%, followed by commercial

loans, which grew 17.9%.

($1 = 20.8829 Mexican pesos at end-December)

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