Grupo Financiero Banorte (GFNorte), is a leading financial institution in Mexico and the one with the broadest business diversification in the market. It operates as a universal banking, providing in addition, a wide array of products and services through its broker dealer, annuities & insurance companies, retirements savings funds (afore), mutual funds, leasing & factoring company and warehousing.
Banorte is the second largest financial group in the country, the main provider of loans to governments and the second most important bank in mortgages. The retirement savings fund company Afore XXI Banorte, is the largest in the country in AUMs.
Banorte is the only commercial bank, among the six largest institutions, that is managed by a Mexican management team. Its decisions are made locally without the influence of foreign matrices, which has proven to be an advantage given the recent weakness of many global institutions.
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