Grupo Fin Banorte Se (GBOOF) 6.9400 $GBOOF
Bedford and Main Reports That Banorte - Ixe Securities Completes Clearing Conversion to FirstSouthwest Clearing Services
PRWeb - Wed Mar 05, 2:51AM CST
Bedford and Main Financial Consulting was chosen by Banorte - Ixe Securities in 2013 to spearhead the search for a new correspondent clearing firm with the expertise to handle Latin American clients, while maintaining a strict adherence to US regulatory restrictions. The subsequent conversion of accounts with approximately $2.5Billion in AUM was coordinated in a smooth and successful conversion during the latter part of 2013 and early 2014.
Major Mexican bank Grupo Financiero Banorte improves sustainability practices with CRedit360
M2 - Tue Mar 04, 6:14AM CST
Grupo Financiero Banorte improves the monitoring and analysis of their sustainability practices Grupo Financiero Banorte (Banorte) will use CRedit360s sustainability software in order to track and analyze its social, environmental and economic performance. This system will enable Banorte to collect data seamlessly across all of the subsidiaries of the group and use the information to drive progress on sustainability within its business.
Fitch: No Rating Implications For GFNorte & Subsidiaries USD$2.5B Capital Increase
Business Wire - Wed Jul 17, 3:45PM CDT
Grupo Financiero Banorte, S.A.B. de C.V.'s (GFNorte; rated 'BBB'/'F2' with a Stable Outlook by Fitch) recent capital increase is viewed as a positive action, according to Fitch Ratings.
Fitch: Capital Raise and Acquisition of Generali's Stakes Rating Neutral for GFNorte & Subs
Business Wire - Wed Jun 12, 3:02PM CDT
Grupo Financiero Banorte, S.A.B. de C.V. (GFNorte; rated 'BBB'/'F2' by Fitch with a Stable Outlook) announced yesterday that it would acquire Assicurazioni Generali S.p.A.'s (Generali) 49% stake in its insurance and annuities subsidiaries. Earlier today the company announced plans to raise up to USD3 billion in new capital. These events are in line with Fitch's previously disclosed assumptions and expectations and, therefore, have no impact on the ratings of GFNorte and/or its subsidiaries.
Fitch Withdraws Ixe Banco's and Fincasa Hipotecaria's Ratings on Merger into Banorte
Business Wire - Fri Jun 07, 5:13PM CDT
Fitch Ratings has today affirmed and withdrawn the international- and/or national-scale ratings of Ixe Banco and Fincasa Hipotecaria, former subsidiaries of Grupo Financiero Banorte (GFNorte). Fitch has withdrawn these ratings since Ixe Banco and Fincasa Hipotecaria were recently merged into Banco Mercantil del Norte (Banorte), the largest of GFNorte's subsidiaries. Accordingly, Fitch will no longer provide ratings or analytical coverage for Ixe Banco and Fincasa Hipotecaria, since both entities no longer exist, although rating coverage is maintained for both GFNorte and Banorte, among other related entities. Ixe Banco's hybrid securities remain outstanding and are now under Banorte's obligations.
Banorte Branches across Mexico Will Offer Western Union Global Money Transfer Services
Business Wire - Wed Apr 24, 5:30PM CDT
The Western Union Company (NYSE: WU), a leader in global payment services, and Banorte, one of the largest financial institutions in Mexico and a subsidiary of Grupo Financiero Banorte (BMV: GFNORTEO; OTCQX: GBOOY), today announced a five-year agreement that will allow Banorte to offer Western Union(R) global money transferservices.
Fitch Affirms GFNorte & Subs at 'BBB'/'AA+(mex)', Outlook Stable; Takes Various Actions on Subs
Business Wire - Fri Mar 22, 3:41PM CDT
Fitch Ratings has affirmed Grupo Financiero Banorte's (GFNorte) and Banco Mercantil del Norte S.A.'s (Banorte) Viability ratings (VR) at 'bbb' and their long- and short-term Issuer Default Ratings (IDRs) at 'BBB'/'F2', respectively. Ixe Banco, S.A.'s (Ixe) VR was upgraded to 'bb+' from 'bb'. The National scale ratings for these two banks, as well as those of certain non-bank subsidiaries that are driven by support from GFNorte, were affirmed at 'AA+(mex)' and 'F1+(mex)'. The Rating Outlook on the long-term ratings of all these entities remains Stable. A full list of rating actions is at the end of this rating action commentary.
Banorte-Ixe partners with IBM to establish a unique client-centric banking model in Latin America
PR Newswire - Tue Mar 12, 9:30AM CDT
Grupo Financiero Banorte (BMV:GFNORTEO - OTCQX:GBOOY) and IBM (NYSE:IBM) announced today the signing of a 10-year strategic agreement that will allow the Mexican financial institution to create a new customer-centric banking model, while substantially improving its efficiencies to achieve levels close to 40% and return on equity above 20%.
Bedford and Main Reports That Banorte - Ixe Securities Completes Clearing Conversion to FirstSouthwest Clearing Services
PRWeb - Wed Mar 05, 2:51AM CST
Bedford and Main Financial Consulting was chosen by Banorte - Ixe Securities in 2013 to spearhead the search for a new correspondent clearing firm with the expertise to handle Latin American clients, while maintaining a strict adherence to US regulatory restrictions. The subsequent conversion of accounts with approximately $2.5Billion in AUM was coordinated in a smooth and successful conversion during the latter part of 2013 and early 2014.
Major Mexican bank Grupo Financiero Banorte improves sustainability practices with CRedit360
M2 - Tue Mar 04, 6:14AM CST
Grupo Financiero Banorte improves the monitoring and analysis of their sustainability practices Grupo Financiero Banorte (Banorte) will use CRedit360s sustainability software in order to track and analyze its social, environmental and economic performance. This system will enable Banorte to collect data seamlessly across all of the subsidiaries of the group and use the information to drive progress on sustainability within its business.
Fitch: No Rating Implications For GFNorte & Subsidiaries USD$2.5B Capital Increase
Business Wire - Wed Jul 17, 3:45PM CDT
Grupo Financiero Banorte, S.A.B. de C.V.'s (GFNorte; rated 'BBB'/'F2' with a Stable Outlook by Fitch) recent capital increase is viewed as a positive action, according to Fitch Ratings.
Fitch: Capital Raise and Acquisition of Generali's Stakes Rating Neutral for GFNorte & Subs
Business Wire - Wed Jun 12, 3:02PM CDT
Grupo Financiero Banorte, S.A.B. de C.V. (GFNorte; rated 'BBB'/'F2' by Fitch with a Stable Outlook) announced yesterday that it would acquire Assicurazioni Generali S.p.A.'s (Generali) 49% stake in its insurance and annuities subsidiaries. Earlier today the company announced plans to raise up to USD3 billion in new capital. These events are in line with Fitch's previously disclosed assumptions and expectations and, therefore, have no impact on the ratings of GFNorte and/or its subsidiaries.
Fitch Withdraws Ixe Banco's and Fincasa Hipotecaria's Ratings on Merger into Banorte
Business Wire - Fri Jun 07, 5:13PM CDT
Fitch Ratings has today affirmed and withdrawn the international- and/or national-scale ratings of Ixe Banco and Fincasa Hipotecaria, former subsidiaries of Grupo Financiero Banorte (GFNorte). Fitch has withdrawn these ratings since Ixe Banco and Fincasa Hipotecaria were recently merged into Banco Mercantil del Norte (Banorte), the largest of GFNorte's subsidiaries. Accordingly, Fitch will no longer provide ratings or analytical coverage for Ixe Banco and Fincasa Hipotecaria, since both entities no longer exist, although rating coverage is maintained for both GFNorte and Banorte, among other related entities. Ixe Banco's hybrid securities remain outstanding and are now under Banorte's obligations.
Banorte Branches across Mexico Will Offer Western Union Global Money Transfer Services
Business Wire - Wed Apr 24, 5:30PM CDT
The Western Union Company (NYSE: WU), a leader in global payment services, and Banorte, one of the largest financial institutions in Mexico and a subsidiary of Grupo Financiero Banorte (BMV: GFNORTEO; OTCQX: GBOOY), today announced a five-year agreement that will allow Banorte to offer Western Union(R) global money transferservices.
Fitch Affirms GFNorte & Subs at 'BBB'/'AA+(mex)', Outlook Stable; Takes Various Actions on Subs
Business Wire - Fri Mar 22, 3:41PM CDT
Fitch Ratings has affirmed Grupo Financiero Banorte's (GFNorte) and Banco Mercantil del Norte S.A.'s (Banorte) Viability ratings (VR) at 'bbb' and their long- and short-term Issuer Default Ratings (IDRs) at 'BBB'/'F2', respectively. Ixe Banco, S.A.'s (Ixe) VR was upgraded to 'bb+' from 'bb'. The National scale ratings for these two banks, as well as those of certain non-bank subsidiaries that are driven by support from GFNorte, were affirmed at 'AA+(mex)' and 'F1+(mex)'. The Rating Outlook on the long-term ratings of all these entities remains Stable. A full list of rating actions is at the end of this rating action commentary.
Banorte-Ixe partners with IBM to establish a unique client-centric banking model in Latin America
PR Newswire - Tue Mar 12, 9:30AM CDT
Grupo Financiero Banorte (BMV:GFNORTEO - OTCQX:GBOOY) and IBM (NYSE:IBM) announced today the signing of a 10-year strategic agreement that will allow the Mexican financial institution to create a new customer-centric banking model, while substantially improving its efficiencies to achieve levels close to 40% and return on equity above 20%.
