Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY), commonly known as Banorte, is one of Mexico’s largest and most established financial groups. Its roots date back to 1899, when Banco Mercantil de Monterrey was founded in the northern city of Monterrey. Over the decades, Banorte expanded through the acquisition of regional banks and a merger of financial entities, ultimately consolidating into a diversified financial services platform in the late 20th century.
Banorte’s core business activities span retail banking, corporate and commercial lending, insurance, pension fund administration and asset management. The group serves a wide range of clients, from individual account holders to small- and medium-sized enterprises and large corporations. Its insurance arm underwrites life, health and property policies, while its asset management division oversees investment funds and private wealth accounts.
In retail markets, Banorte offers products such as checking and savings accounts, credit cards, mortgages, auto loans and personal lines of credit. The digital banking platform enables customers to manage their finances through online and mobile channels, including electronic bill payment and real-time fund transfers. On the corporate side, the bank provides trade finance, treasury services and structured lending solutions tailored to sectoral needs.
Headquartered in Monterrey, Banorte maintains an extensive branch network across all of Mexico’s 32 states, complemented by representative offices in key international markets. The group is led by President and Chief Executive Officer Marcos Eduardo Achar, with strategic oversight from a board of directors that reflects its founding del Valle family heritage. Banorte continues to prioritize innovation, aiming to enhance financial inclusion and digital transformation within Mexico’s evolving banking industry.
