Banorte stock tracks 20% third-quarter profit increase

Published on 11/09/2026 at 12:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banorte stock follows a stronger third quarter as the Mexican financial group keeps its 2026 profit target unchanged. Loans grew 11 percent.

Quarterly profit and outlook

Third-quarter net profit reached MXN 15.658 billion, up 20 percent from a year earlier.
Nine-month profit rose 9 percent to MXN 46.667 billion, while loans grew 11 percent.
Banorte kept its 2026 net-income target of MXN 62 billion to MXN 64 billion unchanged.
The fourth-quarter report will show whether the group reaches its annual target.

Banorte, MXP370711014, Illustration mit AI erstellt.

Grupo Financiero Banorte reported a sharp increase in third-quarter profit on Tuesday, November 3, 2026, as net income rose 20 percent year over year to MXN 15.658 billion. The result covered the July-to-September period, according to The Rio Times.

Growth broadens across banking operations

Profit for the first nine months reached MXN 46.667 billion, an increase of 9 percent from the same period a year earlier. Loans grew 11 percent over the year to MXN 1.33 trillion, while deposits increased 13 percent to MXN 1.31 trillion.

Net interest income rose 5 percent to MXN 38.127 billion. Non-interest income, including fees, insurance and pensions, climbed 45 percent to MXN 5.965 billion. Return on equity reached 24.5 percent in the quarter, compared with 20.1 percent a year earlier.

The banking unit, Banco Mercantil del Norte, generated quarterly net income of MXN 12.313 billion, up 9 percent year over year. The pensions insurance business increased earnings 62 percent to MXN 1.262 billion, while insurance profit fell 14 percent to MXN 1.214 billion.

Targets remain unchanged for 2026

Management kept its full-year net-income target at MXN 62 billion to MXN 64 billion. The group also continues to target loan growth of 8 percent to 11 percent, return on equity of 22 percent to 24 percent and a cost of risk between 1.8 percent and 2.1 percent.

After nine months, Banorte had reached about three-quarters of the lower end of its annual profit range. The company’s fourth-quarter results, due after the end of 2026, will determine whether the target is achieved.

Banorte stock in German trading

Banorte stock traded at 10.05 euros on Lang & Schwarz at 12:37:56 CET on Monday, November 9, 2026. Investors can follow the real-time quote of Banorte stock for the latest German-market indication.