Grupo Financiero Banorte, S.A.B. de C.V., doing business as Banorte (Banco Mercantil del Norte) and as Ixe, is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator (AFORE).
Grupo Financiero Banorte operates its commercial bank under the brands Banorte and Ixe, offering savings accounts, credit cards, payday loans, mortgages, commercial loans and auto loans. Its performing loan portfolio was of US$35 billion in 2014. It also performs insurance, pension, leasing, and brokerage activities.
Banorte has 1,269 branches and 7,297 ATMs nationwide. It can also receive deposits through more than 5,200 commercial establishments, such as drug stores, convenience stores, and supermarkets. INB Financial Corp is the holding company of Texas-based Inter National Bank. Banorte exercised its option to acquire the remaining 30% of INB Financial Corp stock for $146.6 million in 2009.
Sponsorship
As of 2020, Banorte has been the sponsor of the Mérida Marathon in Mérida, Mexico, a city in the state of Yucatan.
On 14 March 2025, Banorte bought the naming rights to Estadio Azteca in Mexico City and renamed it Estadio Banorte which helped fund the renovations for the 2026 FIFA World Cup.
See also
- List of banks in Mexico
- List of companies traded on the Mexican Stock Exchange
- List of Mexican companies
- Economy of Mexico
Sources
- Grupo Financiero Banorte and Banorte USA
- News, "Operation Casablanca"
- Drug Trafficking in Mexico: A First General Assessment
- Mexican bank, Banorte, challenges U.S. and prevails in Casablanca
- Kroll's Notable Cases
- Mexico bank gets back funds seized in U.S. sting
- Citibank—The Confia Acquisition in Mexico
- WIPO Arbitration and Mediation Center
- Adrian E. Tschoegl. "Foreign ownership in Mexican Banking: A Self- Correcting Phenomenon". The Wharton School of the University of Pennsylvania, Philadelphia, PA 19104, October 23, 2006.
- Taeko Hoshino. Privatization of Mexico's public enterprises and the restructuring of the private sector. The Developing Economies, XXXIV-1 (March 1996) [http://www.ide.go.jp/English/Publish/De/pdf/96_01_02.pdf]
- www.greatplacetowork.com.mx
- Banorte exchange rate