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# Banorte Reports 13% Rise in Q4 2023 Net Profit and Guides Approximately 10% Revenue Growth for 2024
- URL: https://www.theglobalbanker.com/banorte-q4-2023-net-profit-13-percent-2024-revenue-guidance/
- Published: 2024-01-17T16:32:00.000Z
- Updated: 2026-10-02T14:47:02.000Z
- Description: Grupo Financiero Banorte posted Q4 2023 net profit of 13.04 billion pesos, up 13%, and full-year profit of 52.42 billion pesos, with CEO guiding ~10% revenue growth for 2024.
- Author: TGB Editorial Team
- Tags: Banking News, Americas, #archive

Grupo Financiero Banorte reported fourth-quarter 2023 net profit of 13.04 billion pesos, equivalent to approximately USD 768.8 million, a 13% increase compared with the same period in 2022\. For full-year 2023, the Mexican financial group recorded net profit of 52.42 billion pesos, representing 15% growth over the prior year. The quarterly loan portfolio grew 12% year on year in the fourth quarter.

Banorte presented the full-year and fourth-quarter results alongside guidance for approximately 10% revenue growth in 2024\.