Last $29.32 USD
Change Today +0.44 / 1.52%
Volume 24.1K
GBOOY On Other Exchanges
As of 5:19 PM 11/20/14 All times are local (Market data is delayed by at least 15 minutes).

grupo fin banorte-spon adr (GBOOY) Snapshot

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12/16/13 - $37.60
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grupo fin banorte-spon adr (GBOOY) Details

Grupo Financiero Banorte, S. A. B. de C. V. provides banking and financial products and services in Mexico. The company’s Banking Sector segment offers retail banking services, such as checking and savings accounts, credit cards, mortgages, car loans, payroll, and personal loans through various distribution channels; wholesale banking services, including transactional banking services comprises cash management products for corporate and middle-market clients; and middle-market and corporate banking services that comprise financial solutions consisting of structured loans, syndicated loans, financing for acquisitions and investment plans, cash management services, collection, fiduciary, payroll payment, checking accounts, lines of credit, and loans for SMEs. This segment’s international banking and financial institutions engages in the provision of credit support services for the export of goods and services, including letters of credit, payment orders, and dollar checking accounts; and advisory and credit support services related to the import of goods and services, such as financing for import of livestock and machinery, working capital, investment projects, letters of credit, and payment orders. Its Long-term Savings Sector segment offers life and damage insurance products, and pension fund management services. The company’s Brokerage Sector segment provides brokerage, financial advisory, portfolio structuring and portfolio management, asset management, and investment banking services, as well as is involved in the sale of investment funds and debt instruments for individuals and corporations. It’s Sofom and Other Finance Companies Sector segment offers leasing and factoring services; warehousing services, such as inventory management and commercialization, and logistics services; and management and collection of loans and real estate portfolios. Grupo Financiero Banorte, S. A. B. de C. V. was founded in 1899 and is based in Monterrey, Mexico.

27,549 Employees
Last Reported Date: 04/30/14
Founded in 1899

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grupo fin banorte-spon adr (GBOOY) Key Developments

Grupo Financiero Banorte Announces Earnings Results for the Third Quarter of 2014

Grupo Financiero Banorte announced earnings results for the third quarter of 2014. For the quarter, the company reported a 15% increase in net income to MXN 4.04 billion in the quarter, while total loans grew 8% in the 12 months through September. Return of Equity (ROE) was 13.8% in third quarter, compared with 14.0% in the same period of 2013. Banorte's continued net interest income (NII) growth NII increased 11% year-on-year.

Grupo Financiero Banorte, S.A.B. de C.V. Presents at Citi's Global Financial Conference 2014, Nov-20-2014 02:30 PM

Grupo Financiero Banorte, S.A.B. de C.V. Presents at Citi's Global Financial Conference 2014, Nov-20-2014 02:30 PM. Venue: The Ritz Carlton Hotel, 7 Raffles Ave, Singapore, Singapore. Speakers: David Ricardo Suárez Cortazar, Chief Financial Officer.

Grupo Financiero Banorte Reports Earnings Results for the Second Quarter of 2014; Provides Earnings Guidance for the Second Half of 2014

Grupo Financiero Banorte reported earnings results for the second quarter of 2014. For the quarter, the company posted net income of MXN 3.74 billion, up 16% year-on-year, mainly due to loan and deposit growth with an improved mix. Net interest income (NII) rose 11% compared to the prior-year quarter to MXN 10.4 billion, aided by a drop in minority interest due to the acquisition. The group's efficiency ratio improved 3.3% points to 47.1% due to lower operating expenses as a result of tighter expense management and an increase in total income of 11%, to MXN 14.7 billion. The group's ROE for the quarter was 13.2%, down from 15.3% in second quarter of 2013, due to dilution from a stock offering in July last year. ROA, meanwhile, was flat at 1.4%. GFNorte's net profit was 0.6% below consensus estimates. Earnings per share were MXN 1.35 in the second quarter of this year, 2% higher than the first quarter of 2014. The company believes that the second part of 2014 will be more dynamic as numbers shall continue improving.


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