Banorte reaches the halfway point of its Vision 20/20, a strategy that aims to make the institution the best financial group in Mexico for Mexicans, customers, investors, and employees.

In this regard, Carlos Hank González, president of the group, stated, “Banorte is an ally of Mexico’s future. As the Mexican champion of banking, we are closer than ever to supporting families and regions in our country, which allows us to be close to achieving our goal for 2020.”

Banorte reached the halfway point of its Vision 20/20 with a steady pace. The consumer loan portfolio amounted to 256.76 billion pesos in the second quarter of 2018, due to a 32 percent increase in auto loans, which led Banorte to lead growth in this banking market, and a 17 percent increase in home loans, more than double the banking average.

This growth resulted in more than 10,500 families benefiting from home loans in the first half of the year and more than 35,100 people accessing auto loans.

The credit card portfolio balance increased by 10 percent compared to the same period last year, leading growth among its main competitors, and the payroll balance increased by 9 percent. In total, the current loan portfolio reached a balance of 640.66 billion pesos, representing an annual increase of 8 percent.

Among the key indicators for the quarter, the following stand out: an increase in Return on Equity (ROE), which stood at 19.1 percent, compared to 16.4 percent in the previous year; Return on Assets (ROA), at 2.1 percent, compared to 1.8 percent in the same period last year; and the Efficiency Ratio, which improved to 39.5 percent from 42.9 percent.

The Capitalization Index (ICAP) strengthened, reaching 17.8 percent, well above the minimum level of 10.5 percent required by financial authorities.

During the first half of the year, the merger of Grupo Financiero Interacciones into Banorte was also approved, consolidating this institution as the main driver of infrastructure financing in our country, a field in which there is enormous opportunity.

Finally, another significant event for Banorte in the second quarter of the year was the delivery of the 100th house in its “Adopt a Community” program, which focuses on the comprehensive reconstruction of nine communities in seven states of the republic affected by the September earthquakes.

Read: https://www.milenio.com/negocios/banorte-alcanzar-meta-carlos-hank-gonzalez