Takeover Of Mexico Banorte Bank Unlikely, Despite Rumors

Posted on: August 10th, 2006
Filed Under: [ Business ] [ Hispanic News ]
Tags: ,
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“Shareholders of Mexico’s fifth largest banking firm, Grupo Financiero Banorte (GFNORTE.MX), are unlikely to sell anytime soon given the bank’s growth potential as it expands into new markets at home and abroad, according to analysts.
“Banorte, operationally, is doing really well. They are well capitalized and their earnings are growing very fast so there is no reason for them to sell right now. Usually banks sell when they aren’t doing so well,” Deutsche Bank analyst Mario Pierry said in an interview. “

SOURCE: More information in English / Mas informací­on en Ingles
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