Grupo Financiero Banorte, S.A.B. de C.V. Profile
Grupo Financiero Banorte, S.A.B. de C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.
Retail Banking
Includes checking and deposit accounts; credit and debit cards; mortgage, car, payroll, and personal loans; SME loans; payroll accounts; and car, home, life, and SME insurance in several modalities.
SME Banking
Includes checking, financial, technological, and business insurance solutions.
Checking Solutions: Includes current investment and debit accounts.
Financial solutions: Includes SME loans and business credit cards.
Technological solutions: Includes online banking, POS, and payroll services.
Business Insurance Solutions: Includes car, home, and employee insurance.
Wholesale Banking
Business and Corporate Banking: Includes structured loans syndicated loans acquisition funding investment plans cash management for collection, trustees, payroll, checking accounts, and lines of credit.
Transactional Banking: Includes online banking, collection and payments, acquirer, payroll, cash management and reconciliation services, foreign currency purchase/sale, management of surpluses and liquidity services, and financial coverage and insurance.
Federal Government Banking: Includes checking accounts; loans; cash handling services; payroll services; comprehensive advice on public finance management to improve collection and make spending more efficient; and financial diagnoses to design appropriate debt payment profiles.
International Banking: Includes import and export letters of credit; documentary collections; bank guarantees; standby letters of credit; letter of credit financing; import and export foreign trade financing; foreign trade structured financing with the export credit agencies and/or multilateral organization guarantee; discounts on import bills of exchange; import bank guarantee; international wire transfer services; and remittances through Uniteller.
Savings and Social Security Sector
Afore XXI Banorte Seguros Banorte Pensiones Banorte: Includes retirement account management Life, car, home, and medical insurance.
Stock Market Trading Sector
Casa de Bolsa Banorte Operadora de Fondos Banorte: Includes brokerage services, financial advice, structuring and management of portfolios, asset management, investment banking, and sale of mutual funds and debt and capital instruments.
SOFOM and Auxiliary Credit Sector
Arrendadora y Factor Banorte Almacenadora Banorte: Includes leasing and factoring services, storage services Inventory management, logistics, and marketing.
Strategy
In 2022, the company started its origination strategy through hyper-personalization, seeking to differentiate and customize its offerings to customers using analytical tools based on their behavior and particular profiles.
The company follows a proactive strategy for diversifying its loan portfolio and creditworthiness by setting limits and maximum amounts on exposure and concentration in different groups or segments. In 2022, the strategy focused on quantifying emissions financed by the Banorte portfolio, defining decarbonization goals in priority sectors, and analyzing physical and transition risks through developing climate scenarios and stress testing. The company is creating a fully-digital bank that promotes a differentiated culture based on an adaptable architecture and with cloud-based services for the operation of processes dynamically and flexibly.
History
Grupo Financiero Banorte, S.A.B. de C.V. was founded in 1899.
