Earnings call: Banorte reports solid growth, eyes digital bank expansion
Grupo Financiero Banorte (GFNORTEO.MX), one of Mexico\’s largest financial groups, reported a robust first quarter with a 9% increase in net income and a 134 basis point improvement in return on equity (ROE). The bank\’s management discussed the positive momentum of the Mexican economy, driven by domestic demand, and a moderate inflation climate that allowed for a recent rate cut by the central bank.