Banorte’s profits rebound 21% in the first quarter

The bank announced that it made structural changes to its credit strategies, which helped it “maintain quality and risk indicators below historical averages.”

The general director of Grupo Financiero Banorte, Marcos Ramírez, said Thursday that the new strategy has focused on clients with good payment capacity.

“You have to recognize what has changed for the better in Mexico and our clients are becoming more mature, very prudent, which is why (the portfolio) is growing very healthy,” he said at a conference.

The Group’s credit portfolio amounted to 950,157 million pesos, 14% more than in the first quarter of 2022.

The consumer credit portfolio was the one that had the highest growth of 17%, followed by the commercial credit portfolio that increased 16%, followed by loans to the government that increased 13%.