Banorte: Growth From Almost Everywhere [Seeking Alpha]
GRUPO FINC BANORTE S/ADR (GBOOY)
NASDAQ:AMEX Investor Relations:
gfgsa.com
Company Research
Source: Seeking Alpha
The bank is exhibiting sustainable growth in ROE, book value, and NII. Also, with a core-bank NIM that has been barely affected by higher funding costs, displaying signs of resiliency. With a price-to-book trading close to its historical average, coupled with tailwinds in the Mexican economy, and an electoral result that seems anticipated, I rate this company as a buy. Grupo Financiero Banorte ( GBOOY ) is the only Mexican bank that has an ADR , even though it still trades in the OTC market. Over the past three years , it has outperformed both the Recommended For You Recommended For You
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News
- Mexico's Banorte posts 9% profit climb in Q1 as loan book grows [Reuters]Reuters
- UPDATE 1-Mexico's Sheinbaum not planning fiscal reform in first years if elected, advisor says [Yahoo! Finance]Yahoo! Finance
- Mexico's Sheinbaum not planning fiscal reform in first years if elected, advisor says [Yahoo! Finance]Yahoo! Finance
- Seguros Banorte drives digital transformation with Equisoft's modern policy administration system and migrates 27 million policies [Yahoo! Finance]Yahoo! Finance