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April 22, 2022
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Banorte accesses the ‘data room’ to learn about the Banamex sale process

Banorte accesses the 'data room' to learn about the Banamex sale process

The banker said that in this first stage they are signing the confidentiality agreements because “it is not that you come in and run away.”

“They let you enter the data room, but there really are a lot of rooms and a lot of information. They begin to open your accounting of all the companies. The questions begin, they are processes of months. It is not that one arrives and starts running, no, These are months to start digesting all this type of information, weigh models and see how they are”, he explained at the Group’s quarterly results conference.

Ramírez added that this Wednesday there will be a meeting of directors in which they will discuss this issue.

Regarding the proposal they made last March, to invite Mexicans to help buy a piece of Banamex, Ramírez said that it was an invitation for people to buy Banorte shares so that later they can buy Banamex.

“If a Mexican wants to buy Banorte shares, it is totally allowed, they can go to any brokerage house and open a contract to do so. What we are doing is an invitation for them to join in buying Banorte shares. We believe it is a good bank and has a life of its own, regardless of whether they buy other assets,” said Marcos Ramírez.

Portfolio growth in the first quarter

In the first quarter of the year, Banorte reported a growth of 4% in its loan portfolio, within this portfolio the growth of the payroll loan segment stood out, which with 57,278 million pesos had an increase of 10% in the quarter.

The placement of credit cards of the brand (not counting those of Rappi) had an increase of 9% for an amount of 39,606 million pesos. Banorte has placed more than 500,000 cards from the alliance with Rappi, which began at the end of 2020.



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