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

Latest articles from Banorte

Ahead of the Curve

We expect inflation at 0.52% 2w/2w (previous: 0.21%), higher than its 5-year average at 0.49%. This release will include the first estimate for September, along revised figures for August. For September, signals are mixed. However, considering other ...
Banorte Juan Carlos
Juan Carlos Alderete Macal @ Banorte 15 October 2021

Banxico Minutes – Preemptive approach given risks to inflation expectations

In our view, the document reinforces the statement’s more hawkish tone. In this context, one member signaled towards recent downward revisions in growth estimates by international organizations, with a moderation in advanced and Asian economies. In t...
Banorte Alejandro
Alejandro Padilla Santana @ Banorte 14 October 2021

Industrial production – Positive surprise in August, lifted by construction

With this, activity stands 2.0% below February 2020, before the pandemic started. Differences prevail in annual terms across sectors, with construction (8.7%) and manufacturing (6.6%) still higher, as seen in Chart 2. These two prints were strong eno...
Banorte Juan Carlos
Juan Carlos Alderete Macal @ Banorte 12 October 2021

Weekly economic calendar and Earnings Results - For the week ending Oc 15, 2021

Banorte Alejandro
Alejandro Padilla Santana @ Banorte 11 October 2021

Mexico: Ahead of the Curve

Banxico Minutes (September 30th). We expect manufacturing at -0.5% m/m (4.8% y/y), returning to contraction after the +1.4% rebound in July. In his view, this is very important ahead of the Fed’s tapering. These comments reinforce the prudent stance ...
Banorte Juan Carlos
Juan Carlos Alderete Macal @ Banorte 8 October 2021

Cemex: Flash: CEMEX Day II, confirms positive outlook despite challenges

It foresees a moderate impact in the face of the challenges of current environment. Mexico (23.8% of sales and 37.1% of EBITDA LTM), with solid fundamentals in the industry supporting the positive medium-term outlook. Europe, Asia, Middle East and Af...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 8 October 2021