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Banorte

Banorte

Grupo Financiero Banorte SAB de CV (GFNorte) is one largest and oldest financial institutions in Mexico. After the merger with IXE, Banorte became the third largest financial institution in the country by deposits, loans, assets and branches. Banorte is the last remaining large bank in Mexico controlled by local shareholders. The rest of the large banks are controlled by international behemoths such as Citigroup, BBVA, Santander, HSBC and Scotiabank. With over 27,940 employees, the Bank serves about 13 million customers through a network of more than 1,250 branches, over 162,000 POS terminals and approximately 7,300 ATMs across Mexico. Banorte also has a presence in the US Hispanic market through Inter National Bank (INB), based in Texas and through Motran and Uniteller, the remittance companies based in California and New Jersey, respectively. Inter National Bank has locations along the Texas - Mexico border including Brownsville, McAllen, Laredo and El Paso. In spite of the large international scale of its competitors, Banorte has been a formidable player and has consolidated its leading position in many market segments, including mortgages and SMEs, while increasing its market share in other key segments, such as credit cards and mutual funds. Banorte was established in 1899 and is headquartered in Monterrey. In January 2013, Grupo Financiero Banorte completed acquisition of Afore Bancomer. As of September 30, 2015, the company had total assets of MXN 1.171 trillion (US$68.8 billion) and total equity of MXN 132.306 billion (US$7.8 billion).

Banorte USA Corporation was established in 2006 and is based in New York. It operates as a division of Banco Mercantil Del Norte. As of June 30, 2015, Banorte USA had total assets of US$1.9 billion.

Banorte subsidiaries:

Banco Mercantil del Norte, S. A.
Arrendadora y Factor Banorte, S.A. de C.V.
Almacenadora Banorte, S.A. de C.V.
Seguros Banorte, S.A. de C.V.
Afore XXI Banorte
Pensiones Banorte, S.A. de C.V.
Casa de Bolsa Banorte Ixe, S.A. de C.V.
Operadora de Fondos Banorte Ixe, S. A. de C. V.
Sólida Administradora de Portafolios, S. A. de C. V. (SOFOM)
Ixe Servicios, S. A. de C. V.
Banorte USA, Corporation.

Banorte locations

Head office address:
Avenue Revolucion 3000, Col. Primavera
Monterrey, Santa Fe 64830
Mexico
Phone: 52 181 8319 6500
Fax: 5281 8318504
Website: www.banorte.com, www.inbweb.com

Banorte USA
540 Madison Avenue
36th Floor
New York, NY 10022
United States