October 24, 2019 / 9:34 PM / a month ago

Mexico's Banorte posts 13% increase in third quarter profit

MEXICO CITY (Reuters) - Grupo Financiero Banorte, the bank with the biggest weight in Mexico’s benchmark stock index, posted a third quarter net profit of 8.86 billion pesos ($450 million) on Thursday, up 13%compared to the same period last year.

Banorte’s revenue for the July through September period reached 26.3 billion pesos, up some 10% compared to the year-earlier period, the bank said in a statement.

Reporting by Noe Torres

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