Banorte Financial Group will register an increase of more than 50% in its net income to the fourth quarter of 2021, it is estimated Bank goes for More (Bx +) in a formless.
For BX +, Banorte, which will present its quarterly closing report this Thursday, will report a 52.9% increase in its net income for the fourth quarter of 2021, from 5.966 million pesos in the fourth quarter of 2020, to 9.124 million pesos.
The Bank of Monterrey will also offer a 29.2% growth in its financial margin compared to the same period last year, to 12.137 million pesos.
However, this will be offset by a negative effect in the insurance segment, in view of greater contracting of the same from the Covid-19 pandemic. In addition, it will increase its portfolio growth by just under 3.8% for the fourth quarter of 2021.
Meanwhile, its operating expenses will increase from 11,612 to 12,140 million pesos, reflecting a 4.5% increase compared to the same quarter of 2020.
In October 2021, the bank’s capitalization was at a margin of 22.1%, while crime for November was placed at 1.04 percent.
At 11:30 this Thursday, the bank’s shares on the Mexican Stock Exchange with a slight decrease of 0.35% to 140.55 pesos per title.
Reference-www.eleconomista.com.mx