October 18, 2018 / 11:54 PM / a month ago

UPDATE 1-Mexico's Banorte reports Q3 net profit of 7.82 bln pesos

(Updates with details from report, share price)

MEXICO CITY, Oct 18 (Reuters) - Mexico’s Grupo Financiero Banorte reported a net profit of 7.82 billion pesos ($417 million) in the third quarter, the financial group said on Thursday.

It was the first quarterly report that reflected the results of Grupo Financiero Interacciones, which Banorte, the owner of Mexico’s second biggest bank, acquired this year.

With the added results, profit at Banorte was up by 26 percent from the same period a year earlier.

Banorte said its loan portfolio had grown 25 percent from the third quarter of 2017 to 751.7 billion pesos, boosted by consumer credit, demand for autos and housing.

Prior to publication of the results, shares in Banorte closed down 1.64 percent to 130.82 pesos. ($1= 18.7175 pesos at Sept. 30) (Reporting by Stefanie Eschenbacher and Sheky Espejo; writing by Julia Love; editing by Dave Graham and Sandra Maler)

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