Banorte

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Grupo Financiero Banorte, S.A.B. de C.V.

Company type	Sociedad Anónima Bursátil de Capital Variable
Traded as	BMV: GFNORTE BMAD: XNOR
Industry	Finance and Insurance
Founded	1899; 125 years ago (1899)
Headquarters	Monterrey, Mexico
Number of locations	1,269 branches
Area served	Mexico
Key people	Carlos Hank González (Chairman) José Marcos Ramírez Miguel (CEO)
Services	commercial banking, pensions, insurance, brokerage
Revenue	Mx$ 212.3 billion (2021) US$ 10.3 billion
Net income	Mx$ 35 billion (2021) US$ 1.7 billion
Total assets	Mx$ 1850.9 billion (2021) US$ 89.5 billion
Number of employees	27,000
Website	www.banorte.com

Grupo Financiero Banorte, S.A.B. de C.V., doing business as Banorte (Banco Mercantil del Norte) and as Ixe, is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator (AFORE).^[1]

Grupo Financiero Banorte operates its commercial bank under the brands Banorte and Ixe, offering savings accounts, credit cards, payday loans, mortgages, commercial loans and auto loans. Its performing loan portfolio was of US$35 billion in 2014.^[2] It also performs insurance, pension, leasing, and brokerage activities.

Banorte has 1,269 branches and 7,297 ATMs nationwide. It can also receive deposits through more than 5,200 commercial establishments, such as drug stores, convenience stores, and supermarkets.^[1]

Grupo Financiero Banorte is listed on the Mexican Stock Exchange, on the Latibex, and on the U.S. OTC securities market through ADRs. It is a constituent of the IPC, the main benchmark index of the Mexican Stock Exchange, and of the S&P Latin America 40, which includes leading, blue chip companies from Latin America.