Banorte Q4 Net Profit Up 20%

Grupo Financiero Banorte SAB de CV

reported a 20% rise in its fourth-quarter net profit. Banorte's quarterly profit surged to 3.01 billion pesos ($239 million). Its profit jumped 28% for the full year to MXN10.89 billion. Banorte's loan portfolio rose 15% y/y. Banorte shares rose 0.31% to close at $35.44 yesterday.