Grupo Financiero Banorte reported a 20% increase in third-quarter earnings, with loan growth and higher net interest income coinciding with stronger deposits across the bank and group.
Net income was 15.658 billion Mexican pesos for the quarter ended Sept. 30, above the revised result for the same period in 2025. The company recorded 38.127 billion pesos in net interest income, a 5% year-over-year increase.
Deposits totaled 1.244632 trillion pesos at the bank and 1.309241 trillion pesos across the group. Each figure was 13% higher than a year earlier. Loans classified in stages 1 and 2 expanded 11.1% year over year.
For January through September, Banorte posted net income of 46.667 billion pesos, up 9% from the revised comparison. The company linked net interest income growth to loan portfolio expansion and mix, along with funding-cost management. It attributed nine-month profit growth to funding-cost management, loan volumes and mix, service income, and an early-year sale of its stake in Buró de Crédito.
Banorte’s 2025 comparison figures reflect the retroactive deconsolidation of Bineo and Tarjetas del Futuro under regulatory accounting requirements. The company said the revised figures are not comparable with amounts presented for the corresponding periods at the time.
