Added to YB: 2024-09-25
Pitch date: 2024-09-23
GFNORTEO.MX [neutral]
Grupo Financiero Banorte, S.A.B. de C.V.
Author Info
Bos Invest is a Dutch investor using fundamental analysis and a total return approach. Sign up for their newsletter.
Company Info
Grupo Financiero Banorte, S.A.B. de C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.
Market Cap
MXN 394.9B
Pitch Price
N/A
Price Target
N/A
Dividend
3.78%
EV/EBITDA
N/A
P/E
7.18
EV/Sales
N/A
Sector
Banks
Category
value
Real estate at 0.12x book & interesting financial companies. Mexico part 9. - Grupo Financiero Banorte
GFNORTEO.MX (quick dive): 2nd largest Mexican bank, 14% deposit/15% loan share. 23.3% ROE, 14.1% CET1, BBB-rated. 4.8% NIM, 35.5% efficiency. Exposure to gov't, mortgages, cars. Fair at 1.65x P/B, 7.5x P/E. NIM may decline, but 18-15% ROE still attractive. Quality bank with satisfactory returns.
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