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Banco Mercantil del Norte (Banorte) — bonds & company profile

company Banco Mercantil del Norte (Banorte)
full company name Banco Mercantil del Norte S.A.
country of risk Mexico
country of registration Mexico
industry Banks
ICB 8300 Banks

Company details

  • pre-LEI / LEI


Banorte is a major bank in Mexico, based in Monterrey. Banorte is ranked in the 84th place out of 100 in the 2007 Great Place to Work List for Mexico. Banorte is the primary subsidiary of Grupo Financiero Banorte, one of Mexico's largest and oldest financial institutions, which has been present in Mexico since 1899. The Banorte trademark is a well-known mark in Mexico. The web domain name "" was created on October 13, 1998. It is a Forbes Global 2000 company, with more than 30 billion dollars in assets under management, 12,500 employees, and 950 branches. Currently, it is the only major bank in Mexico not owned by any foreign group. Banorte, with total consolidated assets of approximately $15.1 billion, is the fifth largest bank in Mexico.It was established in 1889 as Banco Mercantil de Monterrey and in 1985 merged with Banco Regional del Norte to form Banco Mercantil del Norte ('Banorte). In late 2001, Banorte acquired Bancrecer in US$125 millions. Bancrecer had been taken over in 1999 by IPAB. Bancrecer had itself taken over another bank, Banoro, in 1997.

News and documents


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Issuer credit rating

Rating AgencyRatingRating scaleDate
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
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Outstanding bond issues amount

Сurrency Outstanding bond issues Cumulative volume
CHF 2 260 000 000
MXN 6 5 257 829 300
USD 6 2 620 000 000


Issue Volume, mln Status
Nacional Financiera, 6.15% 7mar2025, MXN 10,000 MXN Bookrunner

Consolidated IFRS reports

year 1 Q 2 Q 3 Q 4 Q
1.65 M eng
5.49 M eng

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