The president of the board of directors highlighted that the results obtained show their efforts to focus on the client and offer them personalized services according to their needs.

The Mexican bank Banorte obtained a net profit of US$ 840 million in the first quarter of the year, which is 9% higher than that registered in the same period of the previous year.

Revenue, according to the results report, grew by 15% compared to the first quarter of 2023, rising to US$ 2,191 million.

By segment, net interest income grew 10% year-on-year, driven by the volume and mix of credit origination and a higher reference rate in the period. Non-financial income reached US$ 133.7 million, which is more than triple the figure for the first quarter of 2023.

The operating result increased by 17% compared to the period between January and March 2023, reaching US$ 1,158 million. The quarterly performance responds mainly to the positive dynamics in the insurance business, lower non-financial expenses and lower interest expenses.

The commercial credit portfolio reached US$ 15,331 million, which represents an annual increase of 11%. Meanwhile, the corporate portfolio stood at US$ 10,461 million, an increase of 17% in the same comparison period.

The government portfolio reached US$ 10,437 million, a decrease of 2% compared to the first quarter of 2023.

The president of the board of directors of Banorte, Carlos Hank González, has highlighted that the results obtained during the first quarter show its efforts to focus on the client and offer them personalized services according to their needs.