Banorte's Q3 Profit Jumps 20% as Lending Growth Accelerates
Banorte reported third-quarter net profit of 15.66 billion pesos ($866.1 million), up 20%. Loan growth boosted net interest income and offset higher provisions; profit was broadly in line with analysts' expectations.
Mexican lender Banorte BMV:GFNORTE/O reported a 20% increase in third-quarter net profit on Tuesday as loan growth boosted net interest income and offset higher provisions.Net profit was 15.66 billion pesos ($866.1 million) in the quarter, broadly in line with analysts' expectations of 15.64 billio…