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Mexico’s Banorte reports 3nd-quarter net profit of $430 million -Breaking

by Mike Robinson

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© Reuters. One sign for Banorte is visible at Pedro Garza Garcia’s Koi Tower, Mexico on July 1, 2019. Photograph taken July 1, 2019. REUTERS/Daniel Becerril/Files

MEXICO CITY (Reuters – Grupo Financiero Bahorte, Mexico’s financial services company reported a net profit of 8.874 Billion Pesos (429.9 Million) in its third quarter. That is 0.4% lower than 8.906 billion in the year prior.

In the last year, the company, which has one of the nation’s most important banks and pension funds, earned 25.115 billion pesos. This compares to the 25.481 trillion pesos it made a full year prior.

($1= 20.642 pesos at end-September)

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