Banorte
Banorte

Banorte

Coverage: Mexico
Grupo Financiero Banorte is the second largest financial group in Mexico. It operates as a full-service bank, offering a suite of products and services through its banking, insurance, asset management and broker-dealer divisions.
Location: Mexico
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Latest articles from Banorte

Mexico Top Picks 2021: Favouring recovery and valuation

Having come to the end of a year of important and highly complex challenges, 2021 holds better prospects, supported by the expected recovery and the beginning of the path towards a new post-pandemic normality. We believe that appetite for risky asset...
Banorte Marissa Garza Ostos
Marissa Garza Ostos @ Banorte 25 January 2021
Top Picks 2021: Favoring recovery and valuation
Top Picks 2021: Favoring recovery and valuation

Mexico: Banxico Survey – Downward adjustments in inflation and FX estimates

Banxico published its survey of expectations from private sector analysts for November. Overall, forecasts reflected significant changes in the scenario, specifically for inflation and the exchange rate. Consensus expects inflation at 3.64% at the en...
Banorte Juan Carlos Alderete Macal
Juan Carlos Alderete Macal @ Banorte 1 December 2020

Mexico: Family remittances likely to surpass US$40bn in 2020

Inflows grew at a double-digit pace for a second consecutive month, at 14.1% y/y. Despite of the latter and a more benign base effect when compared to September, the figure grew at a double-digit pace for a second consecutive time, at 14.1% y/y. As h...
Banorte Juan Carlos Alderete Macal
Juan Carlos Alderete Macal @ Banorte 1 December 2020

Mexican government presents new investment plan with private sector

This new plan details 29 projects for a total amount of $228.6 billion (US$11.4 billion), equivalent to 1.0% of GDP. Out of these, 3 are slated to begin this year, with the remaining 26 starting in 2021. This comes on top of the previous plan –announ...
Banorte Gabriel Casillas Olvera
Gabriel Casillas Olvera @ Banorte 1 December 2020
Mexican government presents new investment plan with private sector
Mexican government presents new investment plan with private sector

Mexico's record-high trade surplus signals domestic weakness

US$6,223.8 million surplus in October. Imports slow down, signaling domestic weakness ahead. After a couple of months with a tentative revival, imports (+1.3% m/m) weakened relative to exports (4.8%), as shown in Table 2. In this respect, crude-oil s...
Banorte Juan Carlos Alderete Macal
Juan Carlos Alderete Macal @ Banorte 27 November 2020
Mexico's record-high trade surplus signals domestic weakness
Mexico's record-high trade surplus signals domestic weakness

Mexico: 3Q20 GDP – Broadly unchanged, highlighting more dynamism in services

We maintain our -9.0% y/y estimate for 2020 GDP. On a more positive note, services recovered more strongly than expected since the preliminary print was released, with a further revision higher today of close to 20bps, to 8.8% q/q. By their nature, u...
Banorte Gabriel Casillas Olvera
Gabriel Casillas Olvera @ Banorte 26 November 2020