Banorte

Banorte, also known as Grupo Financiero Banorte. It is a Mexican banking entity specialized in the financial sector and is among the four largest banks in the country.

History

It was created in Monterrey in 1899 due to the need to grant loans to companies that carried out industrial and commercial activities at that time. It was founded as Banco Mercantil de Monterrey. In 1947, the Banco Regional del Norte was established by the same people. Both institutions became National Credit Societies in 1982 and merged four years later to form the Banco Mercantil del Norte. In 1993, it acquired AFIN, and the Grupo Financiero Banorte was formed. To grow, even more, it bought Banco del Centro and Banpaís in 1997. It began to operate nationwide when it acquired the Grupo Financiero Bancrecer in 2002.

Swift Code

The Swift Code (Society for Worldwide Interbank Financial Telecommunication), also known as BIC, is used during an international transfer to identify the receiving bank: MENOMXMT.

Number of Employees

The bank has approximately 30,000 employees.

Rating

The rating is the evaluation of a bank and the risks it can take in case of not paying a debt. Moody’s, S&P, and Fitch are the agencies in charge of it.

Banorte has a rating of:

  • Moody’s = Baa2.
  • S&P = BBB+.
  • Fitch = BBB+.

Baa2 (Moody’s) = It has moderate credit risk.

BBB+ (S&P Global) = It has a medium level, but it is in a good situation.

BBB+ (Fitch) = It has high solvency, but sensitive to adverse changes.

Headquarters

The headquarters of the entity is in the city of Monterrey, Mexico.

Website

If you want to know more about this bank, enter through its website: https://www.banorte.com/.

Services

The Mexican entity allows its preferred customers to open accounts, use credit and debit cards, wealth management, investment funds, credits and more. It provides companies with treasury, liquidity, payments, investment funds, financing, short and long term credit, and more.

Contact

  • Address: Torre Sur Building, Ave. Revolucion 3000, Col. Primavera, 64830
  • Phone Number: +52 (81) 8319 6500