Added to YB: 2024-09-02
Pitch date: 2024-07-16
GBOOF [bullish]
Grupo Financiero Banorte, S.A.B. de C.V.
+41.83%
current return
Author Info
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Company Info
Grupo Financiero Banorte, S.A.B. de C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.
Market Cap
MXN 394.9B
Pitch Price
MXN 7.05
Price Target
N/A
Dividend
3.78%
EV/EBITDA
N/A
P/E
7.18
EV/Sales
N/A
Sector
Banks
Category
value
Show full summary:
Harding Loevner International Equity Portfolio Holding: Grupo Financiero Banorte
GBOOF: Mexican bank, 2nd largest by loans. Bought on election dip. Populist risk but govt focus on credit expansion (33% private credit/GDP vs 140% global avg). Well-positioned for underbanked segments & nearshoring. 10yr double-digit earnings growth. Attractive valuation despite risks.
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