In Forbes Mexico’s 2020 Billionaires ranking, the Hank González family enters for the first time as such with a fortune of $1.45 billion, occupying 19th place among the country’s wealthiest.

It could have been better, since prior to the coronavirus health emergency, the business group led by Carlos Hank González was worth $2.1 billion, but like its peers, the crisis took away part of its fortune.

Now we will have to see the performance of Grupo Financiero Banorte, one of the entities that responded most quickly to its customers to face the inclemencies of the global pandemic.

2019 was already a difficult year for Banorte, with a 1.9% decline in its loan portfolio. Now the challenge seems even greater, as most financial firms and economic agencies anticipate a collapse in the country’s gross domestic product, with declines ranging from -3.9% (Ministry of Finance) to -7% (Bank of America).

Banorte’s initial calculations pointed to a reversal of the 2019 figures and portfolio growth of between 6% and 8%, based on estimated economic growth of 0.8% and interest rates of 6.5%. Now, we will have to wait and see how the rest of the year unfolds and whether Banorte can overcome the health crisis.

Read: https://forbes.com.mx/listas-millonarios-2020-hank-gonzalez-banorte-1450-mdd/