Another year of banking innovations and customer-focused programs has landed Banorte on The Banker’s list of top capitalized banks in Latin American.
The Banker, an international economic and financial publication, included Banorte in its annual issue of Top 1000 World Banks as No. 5 among Latin America and Caribbean top banks, based on its capital and total assets.
The Banker credits the success of these banks to their efforts to meet customer needs through digital banking services, allowing them to maintain resilience in the face of economic uncertainty.
This year, Banorte pledged to allocate 10% to 13% of its income to technology enhancements. The bank invests 13 billion pesos (USD $650 million) annually to digitizing its processes for the bank’s more than 11 million clients, creating services that adapt to customers tastes, priorities and needs. Banorte is playing a major role in promoting the development of the country and helping Mexicans emerge financially strong.
“Banorte’s global innovation strategy seeks to address the rapid change taking place in the global financial industry and this recognition is the result of our commitment to this effort,” Carlos Hank González. “We will continue to anticipate the needs of our customers and take a proactive approach to bettering our communities.”
Though Latin America entered 2022 with slow economic activity and are facing challenges with increasing food and energy prices as well as inflation, the economic outlook for the rest of 2022 will depend on the commitment and innovation of community champions.
“Higher interest rates are not expected to deteriorate banks’ margins and might help proﬁtability and offset moderation in loan growth,” said The Banker.
Carlos Hank González has long been an advocate for the Mexican people. In 2018, Banorte became the only bank to offer credit line increases through digital banking. This year, Banorte joined the United Nations refugee agency, UNHCR, to provide digital bank account access to refugees in Mexico, opening more employment opportunities as they seek a new life in that country.