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

GFNORTE O

MXP370711014

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

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Sector Other Banks

GRUPO FINANCIERO BANORTE, S.A.B. DE C.V.

End-of-day quote Mexican Stock Exchange Other stock markets 06:00:00 2023-11-27 pm EST			5-day change	1st Jan Change
159.81 ^MXN	+0.25%		-1.46%	+14.22%

Nov. 01	Transcript : Grupo Financiero Banorte, S.A.B. de C.V., Q3 2023 Earnings Call, Nov 01, 2023	CI
Oct. 31	Mexico's Banorte posts double-digit Q3 profit boost on loan growth	RE

Grupo Financiero Banorte SAB de CV is a Mexico-based financial institution (the Bank) engaged in the banking sector. The Bank operates in four business sectors: Banking, Savings, Brokerage and Other financial services. The Banking division provides current accounts, consumer and commercial loans, as well as credit and debit cards, among others. The Savings division offers products related to insurance and pension schemes. The Brokerage division focuses on the investment funds management and securities trading. The Other financial services division includes leasing, factoring, portfolio management and warehousing, among others. The Bank offers financial products and services to individual and business customers. It operates through a number of subsidiaries, such as Almacenadora Banorte SA de CV Organizacion Auxiliar del Credito Grupo Financiero Banorte, Casa de Bolsa Banorte IXE SA de CV Grupo Financiero Banorte and Ixe Servicios SA de CV.

Number of employees : 31,000

MXN in Million	2021	Weight	2022	Weight	Delta
Mexico 100.0 %	114,740	100.0 %	195,022	100.0 %	+69.97%

Managers	Title	Age	Since
Marcos Ramírez CEO	Chief Executive Officer	60	2009
Rafael Victorio Arana de la Garza DFI	Director of Finance/CFO	71	-
Carlos Hank González CHM	Chairman	51	2014
Javier Beltrán Cantú ADM	Chief Administrative Officer	-	-
José Francisco Martha González CTO	Chief Tech/Sci/R&D Officer	-	-
Carlos de la Isla Corry BRD	Director/Board Member	-	-
Gabriel Casillas Olvera IRO	Public Communications Contact	47	2012
Tomás Lozano Derbez IRC	Investor Relations Contact	-	-
Manuel Antonio Romo Villafuerte PRN	Corporate Officer/Principal	-	2011
Guillermo Güemez Sarre PRN	Corporate Officer/Principal	55	-

Members of the board	Title	Age	Since
Alfredo Elías Ayub BRD	Director/Board Member	73	2012
Adrián G. Sada Cueva BRD	Director/Board Member	48	2013
José Antonio Chedraui Eguía BRD	Director/Board Member	56	2015
Thomas Stanley Heather Rodríguez BRD	Director/Board Member	68	2016
Alfonso de Angoitia Noriega BRD	Director/Board Member	61	2015
David Peñaloza Alanís BRD	Director/Board Member	50	2019
Clemente Ismael Reyes-Retana Valdés BRD	Director/Board Member	-	-
Carlos de la Isla Corry BRD	Director/Board Member	-	-
Marcos Ramírez CEO	Chief Executive Officer	60	2009
Alicia Alejandra Lebrija Hirschfeld BRD	Director/Board Member	-	-

	Vote	Quantity	Free-Float	Company-owned shares	Total Float
Stock A	1	2,883,456,594	2,883,452,594 ( 100.00 %)	0	100.00 %

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RhumbLine Advisers LP 0.000975 %	5,624	0.000975 %	227 491 $
PNC Investments LLC 0.000145 %	837	0.000145 %	33 857 $

Grupo Financiero Banorte SAB de CV

Avenida Revolución 3000 Sur Colonia Primavera

64830, Monterrey

http://www.banorte.com

address Grupo Financiero Banorte, S.A.B. de C.V.(GFNORTE O)

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BUY

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159.81MXN

Average target price

190.07MXN

Spread / Average Target

+18.94%

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