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Organization: Banco Mercantil del Norte (Banorte)
LEI 549300QTVYRPFHS0J362, SWIFT MENOMXMTXXX

Organization name
Banco Mercantil del Norte S.A.
Country name
Mexico
Country of registration
Mexico
Industry
Banks
Bond debt
6,149 mln USD

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Profile

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 "banorte.com" 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.

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Bond classification

  • Organization does not disclose IFRS/US GAAP financial statements

Bond debt by currency

Codes

  • LEI
    549300QTVYRPFHS0J362
  • SWIFT
    MENOMXMTXXX
  • SIC
    6021 NATIONAL COMMERCIAL BANKS
  • ICB
    8,300 Banks

Credit and ESG Ratings

Macroeconomic Indicators - Banco Mercantil del Norte (Banorte)

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