Banorte reveals its strong intentions to buy Banamex

The CEO of Grupo Financiero Banorte, Marcos Ramírez Miguel, said that they will initiate a analysis on the benefit that would be to acquire Banamex and if it were the case, present the proposal to its shareholders.

“We will be initiating the analysis of this opportunity and if we find that a possible transaction adds value to our shareholders, at the time we will submit it to the consideration of our shareholders and at the time we would make it known to the public”.

This was what he stated at a conference, where he also added: “we must analyze any value opportunity, including the Banamex case. Today we cannot even say that we are interested in participating in this process, it would be irresponsible. We are going to start the analysis, it is internal, and from there we are going to see little by little”.

Banorte had a solid close in 2021

Banorte had a solid close in 2021 Performing loan portfolio

It has been highlighted that Grupo Financiero Banorte reported solid results at the end of 2021, with a 15 percent growth in its annual net profits and a 2.0 percent increase in its current loan portfolio.

The same leader of the banking company highlighted the strength reported by the institution by having a Capitalization Index (ICAP) of 24.7 percent at the end of 2021, from 20.2 percent the previous year.

Remaining as one of the best capitalized financial institutions in Mexico, widely exceeding the regulatory levels in force in the country and the international standards of Basel III, he said.

Current credit portfolio

Current credit portfolio

As for the current credit portfolio, it has been detailed that at the end of the fourth quarter of 2021, it totaled 820 thousand 833 million pesos, which meant a growth of 2.0 percent in its annual comparison.

It was also highlighted that the consumer credit portfolio, which reflects financing for Mexican families, amounted to 322 thousand 334 million pesos, 6.0 percent more than the same period of the previous year.

Mortgage loans increased 7.0 percent, reaching 200 thousand 459 million pesos, and automotive loans decreased 1.0 percent, with a balance of 27 thousand 792 million pesos.

Placement through Credit Card totaled 39 thousand 108 million pesos, 7 percent more annually; The payroll credit balance was 54 thousand 975 million pesos, 6 percent more than in the fourth quarter of 2020.

The commercial credit portfolio reached 203 thousand 256 million pesos, which represents an annual increase of 5 percent; the corporate stood at 140 thousand 925 million pesos, with a drop of 2 percent; and the Government reached 154 thousand 318 million pesos, minus 4 percent.

The Past Due Portfolio Index was 1.0 percent, similar to the previous 1.1 percent, and the Coverage Index reached 191.1 percent.

Meanwhile, traditional deposits stood at 749 thousand 533 million pesos, which represents a reduction of 0.1 percent in the year; demand increased by 1 percent and term decreased by 3 percent.

It should be noted that Ramírez Miguel highlighted that Banorte maintains improvements in all lines of its digital transformation, since at the end of 2021 it registered an increase of 92 percent in the number of mobile banking transactions compared to the previous year, passing 1,085 million to two thousand 078 million.

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