Carlos Hank González has no doubt that the license recently granted by the Ministry of Finance to operate as a 100 percent digital bank through its new brand Banca Bineo represents a major advantage for the future of Grupo Financiero Banorte.

On the one hand, in an interview with MILENIO, the chairman of the institution’s board of directors said he believes this represents an opportunity to compete with global fintech companies that are gaining market share by granting financing without the rigid banking laws; while on the other hand, it gives them the flexibility to boost their growth and that of the country, to take advantage of the opportunities that the relocation of companies or nearshoring is generating for the country.

According to its report for the fourth quarter of 2022, the financial group recorded a current loan portfolio of 919 billion 881 million pesos, 12 percent more than a year earlier.

Read: https://www.milenio.com/negocios/banco-digital-bineo-competir-fintechs-carlos-hank-gonzalez