About Banorte

About Banorte

Banorte was founded in 1899 in the city of Monterrey, where it first started operations as a small regional player. In 1992, in the banking privatization process, Banorte was acquired by a group of entrepreneurs led by Roberto Gonzalez Barrera. Through a series of key acquisitions after the Mexican financial crisis of the mid 1990’s, Banorte was able to consolidate a nationwide presence in Mexico. It now operates as a financial group known as Grupo Financiero Banorte (GFNorte), offering universal banking products, a wide array of products and services through its broker dealer, annuities & insurance companies, retirements savings funds (Afore), mutual funds, leasing & factoring company and warehousing. As of September 2018 GFNorte manages US 147 billion in assets under management.

Grupo Financiero Banorte (GFNorte) offers a wide variety of products and services through its bank, brokerage house, pension and insurance companies, Afore, investment funds, as well as the leasing, factoring and storage companies. At the end of June 2018, measured by its assets, Banorte is already the second largest financial group in Mexico.

Banorte is the main provider of loans to governments and the second most important bank in mortgages and has consolidated its position as one of the most profitable banks in Mexico, being recognized for its solid fundamentals by showing good asset quality, as well as as a strengthening in its level of capitalization.

Banorte is the only commercial bank, among the six largest institutions, that is managed by a Mexican management team. Its decisions are made locally without the influence of foreign matrices, which has proven to be an advantage given the recent weakness of many global institutions.