Banorte Q2 Net Profit Up 29%

Grupo Financiero Banorte SAB

reported a 29% surge in its net profit for the second quarter. Its quarterly net profit rose to 2.64 billion pesos ($197 million). Banorte's deposits gained 15% y/y to MXN313.92 billion, while the bank's loan portfolio surged 21% y/y. Banorte shares closed at $27.06 yesterday.