Mexico's Banorte posts higher 1st-qtr profit

MEXICO CITY, April 23 Tue Apr 23, 2013 5:34pm EDT

MEXICO CITY, April 23 (Reuters) - Mexico's fourth-largest bank by assets, Grupo Financiero Banorte, on Tuesday posted a 27 percent increase in first-quarter profit.

The bank said profit climbed to 3.14 billion pesos ($255 million) in the January to March period.

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