The company’s net profit stood at 13,088 million pesos (mdp), that is, 764.68 million dollars.
The total income of Banorte, which manages the largest pension fund in the country, reached 33,063 million pesos in the reference period, 19% more than the 27,865 million pesos reported between April and June 2022.
The loan portfolio increased 12% annually, while the delinquency rate remained stable.
“The portfolio quality of all products remains. The delinquency rate remained at 1.0%, stable in the sequential and annual comparison,” the group said in a report sent to the Mexican Stock Exchange.
Banorte’s shares closed on Thursday at 148.15 pesos, down 1.28%, before the results were released.
Banorte reported earnings per share of 4.54 pesos in the three months to June, slightly below Refinitiv’s estimate of 4.61 pesos.
Bineo until 2024
Banorte plans to launch its Bineo online bank in early 2024, its director general Marcos Ramírez said on Thursday.
During a call with journalists, Ramírez said that they are preparing for the exit of the platform, which according to Banorte’s expectations would add some three million users, “I would say early next year.”
With information from Reuters
