625:, Banorte was suspected to have laundered $ 7,323,103.51, and Banorte faced a civil penalty lawsuit under Title 18, USC Sec. 1956(b) and civil forfeiture action under Title 18, USC Secs. 981 & 984. On July 1, 1999, a U.S. federal judge in Los Angeles dismissed with "extreme prejudice" the forfeiture case against Banorte. No criminal charges were filed and U.S. authorities gave them back $ 1.4 million seized in the operation. Banorte had implemented anti-money laundering policies and procedures and had detected and closed money laundering accounts prior to Operation Casablanca. These policies and practices assisted Banorte in defending itself against the money laundering charges.
82:
673:
924:
547:
404:
292:
282:
265:
255:
238:
228:
22:
620:
This operations led U.S. Customs agents to arrest 22 high-ranking and mid-level bankers from 12 of Mexico's largest banks when they traveled to the U.S. in mid-May, expecting to attend a banking conference. The investigation produced 160 indictments, including 3 Mexican banks and 26 Mexican bankers.
355:
Grupo
Financiero Banorte operates its commercial bank under the brands Banorte and Ixe, offering savings accounts, credit cards, payday loans, mortgages, commercial loans and auto loans. Its performing loan portfolio was of US$ 35 billion in 2014. It also performs insurance, pension, leasing, and
506:
Banorte expanded their business lines to include leasing (Arrendadora
Banorte) in 1990, and to warehousing and factoring services (Almacenadora Banorte and Factor Banorte) in 1991. In order to set up a financial group with full services Banorte wanted a securities company under its control, and
472:, Mexico and is the primary subsidiary of Grupo Financiero Banorte, one of Mexico's largest and oldest financial institutions, which has been present in Mexico since 1899. The "Banorte" trademark is a well-known mark in Mexico. The web domain name "banorte.com" was created in 1998.
1127:
475:
It is a Forbes Global 2000 company, with total consolidated assets of approximately $ 80 billion, more than 30 billion dollars in assets under management, 12,500 employees and 950 branches. It is the only major bank in Mexico not owned by any foreign group.
637:. Banorte exercised its option to acquire the remaining 30% of INB Financial Corp stock for $ 146.6 million in 2009. As of March 2013, Inter National Bank has $ 2.1 billion in assets and is the 19th largest Texas bank.
359:
Banorte has 1,269 branches and 7,297 ATMs nationwide. It can also receive deposits through more than 5,200 commercial establishments, such as drug stores, convenience stores, and supermarkets.
1676:
748:
Adrian E. Tschoegl. "Foreign ownership in
Mexican Banking: A Self- Correcting Phenomenon". The Wharton School of the University of Pennsylvania, Philadelphia, PA 19104, October 23, 2006.
738:
1671:
686:
617:
was a three-year U.S. investigation of major
Mexican banking institutions for laundering illicit drug profits. Mexican authorities were not informed about the investigation.
491:. Over the next decade, Banorte transformed itself from a regional bank, based mainly in the northern Mexico, to one with nationwide coverage. In late 2001, Banorte acquired
1681:
1149:
511:
to offer insurance, pension funds, and Afore's services through their subsidiaries Afore
Banorte-Generalli, Seguros Banorte-Generalli and Pensiones Banorte-Generalli.
199:
1691:
890:
487:
to form Banco
Mercantil del Norte (Banorte). In 1992, it was purchased from the Mexican Government by a group of investors headed by the Mexican businessman
751:
Taeko
Hoshino. Privatization of Mexico's public enterprises and the restructuring of the private sector. The Developing Economies, XXXIV-1 (March 1996)
349:
1415:
912:
1377:
1116:
621:
Banorte was among the banks and bankers implicated in money laundry, according to the
Operation Casablanca. From the June to July 1998 issue of
1661:
1142:
81:
1016:
483:. The charter of the Banco Mercantil de Monterret was signed in a presence of the public notary Francisco L. Perez. In 1985 merged with
723:
633:
In 2006, Banorte acquired 70% of INB Financial Corp stock for $ 259 million. INB Financial Corp is the holding company of Texas-based
1666:
869:
594:
451:
61:
1135:
1011:
928:
756:
371:
1021:
733:
507:
Banorte acquired Casa de Bolsa Afin in July 1993. In 1997, Banorte established an alliance with the
Italian insurance company
572:
429:
122:
1345:
608:
1408:
1350:
905:
691:
367:
1061:
728:
488:
991:
848:
480:
1293:
1041:
708:
1656:
1610:
1001:
568:
557:
425:
414:
383:
39:
32:
484:
1288:
1686:
1424:
1340:
1158:
576:
561:
433:
418:
379:
1401:
898:
614:
508:
375:
363:
109:
1569:
743:
1495:
1203:
135:
650:
1630:
1505:
1466:
1183:
634:
1594:
1490:
1485:
1178:
956:
1584:
1574:
1559:
1553:
1500:
1263:
92:
1543:
1538:
966:
646:
1520:
1101:
1548:
1091:
1066:
827:
819:
696:
1355:
1300:
1258:
1086:
961:
500:
752:
1198:
986:
951:
118:
1360:
1283:
1051:
873:
794:
783:
607:
This section is about a US investigation into
Mexican drug cartels. For other uses, see
113:
1620:
1615:
1440:
1382:
1325:
1320:
1253:
1248:
1193:
1188:
43:
1650:
1046:
946:
469:
387:
100:
1589:
1510:
1432:
1315:
678:
521:
Key numbers for fiscal year ending December 31, 2021 for Grupo Financiero Banorte:
515:
336:, is a Mexican banking and financial services holding company with headquarters in
713:
1515:
1208:
1036:
1026:
976:
546:
403:
341:
38:
The references used may be made clearer with a different or consistent style of
1579:
1635:
1081:
668:
247:
823:
1625:
1456:
1372:
1335:
1330:
1273:
1243:
1238:
1071:
1031:
492:
465:
337:
163:
1305:
1533:
1461:
1367:
1310:
1233:
1223:
1218:
1106:
1096:
718:
1564:
1111:
1056:
658:
831:
807:
1278:
932:
923:
654:
345:
167:
499:. Bancrecer had itself taken over another bank, Banco del Noroeste (
348:
by assets and loans, and the largest retirement fund administrator (
761:
1393:
1268:
1228:
1173:
1076:
1006:
996:
981:
274:
724:
Mexican bank, Banorte, challenges U.S. and prevails in Casablanca
496:
366:, on the Latibex, and on the U.S. OTC securities market through
1397:
1131:
894:
540:
397:
15:
495:
in US$ 125 million. Bancrecer had been taken over in 1999 by
514:
Banorte has operations in New York (Banorte Securities) and
313:
609:
Phases of Operation Car Wash § Operation Casablanca
537:
Money laundering involvement in US Operation Casablanca
719:
Drug Trafficking in Mexico: A First General Assessment
687:
List of companies traded on the Mexican Stock Exchange
344:. It is one of the four largest commercial banks of
1603:
1475:
1449:
1431:
309:
299:
272:
245:
222:
214:
193:
183:
173:
159:
141:
131:
98:
88:
218:commercial banking, pensions, insurance, brokerage
1677:Companies in the Indice de Precios y Cotizaciones
525:Total Assets: 1.6 trillion pesos (US$ 90 billion)
734:Mexico bank gets back funds seized in U.S. sting
645:As of 2020, Banorte has been the sponsor of the
1672:Companies listed on the Mexican Stock Exchange
628:
1409:
1143:
906:
843:
841:
93:Sociedad Anónima Bursátil de Capital Variable
8:
779:
777:
74:
784:Grupo Financiero Banorte 2014 Annual Report
575:. Unsourced material may be challenged and
527:Equity: 237 billion pesos (US$ 11 billion)
464:Banorte was founded in 1992 in the city of
432:. Unsourced material may be challenged and
1416:
1402:
1394:
1150:
1136:
1128:
913:
899:
891:
362:Grupo Financiero Banorte is listed on the
73:
1682:Companies in the S&P Latin America 40
739:Citibank—The Confia Acquisition in Mexico
595:Learn how and when to remove this message
452:Learn how and when to remove this message
62:Learn how and when to remove this message
709:Grupo Financiero Banorte and Banorte USA
629:Banorte's entry to the US banking market
322:Grupo Financiero Banorte, S.A.B. de C.V.
75:Grupo Financiero Banorte, S.A.B. de C.V.
773:
1692:Mexican companies established in 1899
849:"Banorte - El Banco Fuerte de México"
744:WIPO Arbitration and Mediation Center
532:Return on average Equity (ROE): 15.3%
7:
573:adding citations to reliable sources
430:adding citations to reliable sources
806:Sturges, S.; Brown, M. (May 1975).
374:, the main benchmark index of the
14:
1163:(as of 20 January 2022)
1117:Walmart de México y Centroamérica
1017:Grupo Aeroportuario del Pacífico
1012:Grupo Aeroportuario Centro Norte
922:
812:Bulletin of the Menninger Clinic
671:
545:
402:
291:
290:
281:
280:
264:
263:
254:
253:
237:
236:
227:
226:
80:
20:
1022:Grupo Aeroportuario del Sureste
518:(Banorte Grand Cayman Branch).
992:Corporación Inmobiliaria Vesta
479:It was established in 1889 as
1:
370:. It is a constituent of the
1662:Companies based in Monterrey
795:Banorte 4Q14 Conference Call
714:News, "Operation Casablanca"
529:Return on assets (ROA): 1.6%
481:Banco Mercantil de Monterrey
147:; 125 years ago
1042:Grupo Cementos de Chihuahua
757:www.greatplacetowork.com.mx
206:José Marcos Ramírez Miguel
1708:
606:
382:, which includes leading,
1667:Banks established in 1899
1169:
1002:Genomma Lab Internacional
942:
692:List of Mexican companies
657:, a city in the state of
330:Banco Mercantil del Norte
79:
1159:S&P Latin America 40
1062:Kimberly-Clark de México
870:"Top 100 Banks in Texas"
489:Roberto González Barrera
485:Banco Regional del Norte
380:S&P Latin America 40
1289:Interconexión Eléctrica
623:Money Laundering Alert
376:Mexican Stock Exchange
364:Mexican Stock Exchange
356:brokerage activities.
1204:Banco Santander-Chile
762:Banorte exchange rate
729:Kroll's Notable Cases
136:Finance and Insurance
936:(as of 30 July 2021)
808:"Polypsychopharmacy"
615:Operation Casablanca
569:improve this section
426:improve this section
324:, doing business as
285:Mx$ 1850.9 billion
200:Carlos Hank González
1604:Foreign-owned banks
1570:Banco Interacciones
1467:Banco del Bienestar
635:Inter National Bank
301:Number of employees
231:Mx$ 212.3 billion
175:Number of locations
76:
1496:Banco Ahorro Famsa
1378:Wal-Mart de Mexico
1341:Rede D'Or São Luiz
1644:
1643:
1549:Compartamos Banco
1450:Development banks
1391:
1390:
1164:
1125:
1124:
937:
697:Economy of Mexico
605:
604:
597:
462:
461:
454:
319:
318:
295:US$ 89.5 billion
288:
261:
241:US$ 10.3 billion
234:
210:
205:
72:
71:
64:
1699:
1631:Santander México
1418:
1411:
1404:
1395:
1364:
1297:
1162:
1152:
1145:
1138:
1129:
962:Arca Continental
935:
927:
926:
915:
908:
901:
892:
885:
884:
882:
881:
872:. Archived from
866:
860:
859:
857:
855:
845:
836:
835:
803:
797:
792:
786:
781:
681:
676:
675:
674:
600:
593:
589:
586:
580:
549:
541:
457:
450:
446:
443:
437:
406:
398:
294:
293:
286:
284:
283:
277:
268:US$ 1.7 billion
267:
266:
259:
258:Mx$ 35 billion
257:
256:
240:
239:
232:
230:
229:
208:
203:
155:
153:
148:
84:
77:
67:
60:
56:
53:
47:
24:
23:
16:
1707:
1706:
1702:
1701:
1700:
1698:
1697:
1696:
1657:Banks of Mexico
1647:
1646:
1645:
1640:
1599:
1471:
1445:
1427:
1425:Banks of Mexico
1422:
1392:
1387:
1358:
1351:Southern Copper
1326:Natura & Co
1291:
1199:Banco do Brasil
1165:
1156:
1126:
1121:
987:Coca-Cola FEMSA
967:Banco del Bajío
938:
921:
919:
889:
888:
879:
877:
868:
867:
863:
853:
851:
847:
846:
839:
805:
804:
800:
793:
789:
782:
775:
770:
705:
677:
672:
670:
667:
647:Mérida Marathon
643:
631:
612:
601:
590:
584:
581:
566:
550:
539:
528:
526:
458:
447:
441:
438:
423:
407:
396:
386:companies from
314:www.banorte.com
302:
289:
273:
262:
250:
235:
207:
202:
196:
186:
176:
151:
149:
146:
127:
103:
68:
57:
51:
48:
37:
31:has an unclear
25:
21:
12:
11:
5:
1705:
1703:
1695:
1694:
1689:
1687:Mexican brands
1684:
1679:
1674:
1669:
1664:
1659:
1649:
1648:
1642:
1641:
1639:
1638:
1633:
1628:
1623:
1618:
1613:
1607:
1605:
1601:
1600:
1598:
1597:
1592:
1587:
1582:
1577:
1572:
1567:
1562:
1557:
1551:
1546:
1541:
1536:
1531:
1526:
1523:
1518:
1513:
1508:
1503:
1498:
1493:
1488:
1483:
1479:
1477:
1473:
1472:
1470:
1469:
1464:
1459:
1453:
1451:
1447:
1446:
1444:
1443:
1441:Bank of Mexico
1437:
1435:
1429:
1428:
1423:
1421:
1420:
1413:
1406:
1398:
1389:
1388:
1386:
1385:
1380:
1375:
1370:
1365:
1353:
1348:
1343:
1338:
1333:
1328:
1323:
1321:Magazine Luiza
1318:
1313:
1308:
1303:
1298:
1286:
1281:
1276:
1271:
1266:
1261:
1256:
1254:Empresas Copec
1251:
1246:
1241:
1236:
1231:
1226:
1221:
1216:
1211:
1206:
1201:
1196:
1194:Banco de Chile
1191:
1186:
1181:
1176:
1170:
1167:
1166:
1157:
1155:
1154:
1147:
1140:
1132:
1123:
1122:
1120:
1119:
1114:
1109:
1104:
1099:
1094:
1089:
1084:
1079:
1074:
1069:
1064:
1059:
1054:
1049:
1044:
1039:
1034:
1029:
1024:
1019:
1014:
1009:
1004:
999:
994:
989:
984:
979:
974:
969:
964:
959:
954:
949:
943:
940:
939:
920:
918:
917:
910:
903:
895:
887:
886:
861:
837:
818:(3): 274–279.
798:
787:
772:
771:
769:
766:
765:
764:
759:
754:
749:
746:
741:
736:
731:
726:
721:
716:
711:
704:
701:
700:
699:
694:
689:
683:
682:
666:
663:
642:
639:
630:
627:
603:
602:
553:
551:
544:
538:
535:
534:
533:
530:
460:
459:
410:
408:
401:
395:
392:
317:
316:
311:
307:
306:
303:
300:
297:
296:
278:
270:
269:
251:
246:
243:
242:
224:
220:
219:
216:
212:
211:
197:
194:
191:
190:
187:
184:
181:
180:
179:1,269 branches
177:
174:
171:
170:
161:
157:
156:
143:
139:
138:
133:
129:
128:
126:
125:
116:
106:
104:
99:
96:
95:
90:
86:
85:
70:
69:
33:citation style
28:
26:
19:
13:
10:
9:
6:
4:
3:
2:
1704:
1693:
1690:
1688:
1685:
1683:
1680:
1678:
1675:
1673:
1670:
1668:
1665:
1663:
1660:
1658:
1655:
1654:
1652:
1637:
1634:
1632:
1629:
1627:
1624:
1622:
1619:
1617:
1614:
1612:
1609:
1608:
1606:
1602:
1596:
1593:
1591:
1590:Banco Multiva
1588:
1586:
1583:
1581:
1578:
1576:
1573:
1571:
1568:
1566:
1563:
1561:
1558:
1555:
1552:
1550:
1547:
1545:
1542:
1540:
1537:
1535:
1532:
1530:
1527:
1524:
1522:
1519:
1517:
1514:
1512:
1509:
1507:
1506:Banco Autofin
1504:
1502:
1499:
1497:
1494:
1492:
1489:
1487:
1484:
1481:
1480:
1478:
1476:Mexican banks
1474:
1468:
1465:
1463:
1460:
1458:
1455:
1454:
1452:
1448:
1442:
1439:
1438:
1436:
1434:
1430:
1426:
1419:
1414:
1412:
1407:
1405:
1400:
1399:
1396:
1384:
1381:
1379:
1376:
1374:
1371:
1369:
1366:
1362:
1357:
1354:
1352:
1349:
1347:
1344:
1342:
1339:
1337:
1334:
1332:
1329:
1327:
1324:
1322:
1319:
1317:
1314:
1312:
1309:
1307:
1304:
1302:
1301:Itaú Unibanco
1299:
1295:
1290:
1287:
1285:
1282:
1280:
1277:
1275:
1272:
1270:
1267:
1265:
1262:
1260:
1259:Enel Américas
1257:
1255:
1252:
1250:
1249:Empresas CMPC
1247:
1245:
1242:
1240:
1237:
1235:
1232:
1230:
1227:
1225:
1222:
1220:
1217:
1215:
1212:
1210:
1207:
1205:
1202:
1200:
1197:
1195:
1192:
1190:
1187:
1185:
1182:
1180:
1179:América Móvil
1177:
1175:
1172:
1171:
1168:
1160:
1153:
1148:
1146:
1141:
1139:
1134:
1133:
1130:
1118:
1115:
1113:
1110:
1108:
1105:
1103:
1100:
1098:
1095:
1093:
1090:
1088:
1085:
1083:
1080:
1078:
1075:
1073:
1070:
1068:
1065:
1063:
1060:
1058:
1055:
1053:
1050:
1048:
1047:Grupo Elektra
1045:
1043:
1040:
1038:
1035:
1033:
1030:
1028:
1025:
1023:
1020:
1018:
1015:
1013:
1010:
1008:
1005:
1003:
1000:
998:
995:
993:
990:
988:
985:
983:
980:
978:
975:
973:
970:
968:
965:
963:
960:
958:
957:América Móvil
955:
953:
950:
948:
945:
944:
941:
934:
931:companies of
930:
925:
916:
911:
909:
904:
902:
897:
896:
893:
876:on 2013-06-14
875:
871:
865:
862:
850:
844:
842:
838:
833:
829:
825:
821:
817:
813:
809:
802:
799:
796:
791:
788:
785:
780:
778:
774:
767:
763:
760:
758:
755:
753:
750:
747:
745:
742:
740:
737:
735:
732:
730:
727:
725:
722:
720:
717:
715:
712:
710:
707:
706:
702:
698:
695:
693:
690:
688:
685:
684:
680:
669:
664:
662:
660:
656:
652:
648:
640:
638:
636:
626:
624:
618:
616:
610:
599:
596:
588:
578:
574:
570:
564:
563:
559:
554:This section
552:
548:
543:
542:
536:
531:
524:
523:
522:
519:
517:
512:
510:
504:
502:
498:
494:
490:
486:
482:
477:
473:
471:
467:
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1511:Banco Azteca
1491:Banca Afirme
1486:Agrofinanzas
1433:Central bank
1316:Lojas Renner
1284:Grupo México
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1052:Grupo México
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275:Total assets
160:Headquarters
89:Company type
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1616:BBVA México
1585:Banco Monex
1580:Banca Mifel
1575:Banco Invex
1560:Banco Famsa
1554:Banco Facil
1501:Banco Amigo
1359: [
1292: [
1209:Bancolombia
1037:Grupo Carso
1027:Grupo Bimbo
641:Sponsorship
342:Mexico City
185:Area served
1651:Categories
1636:Scotiabank
1556:(Chedraui)
1544:Banco BASE
1539:Bansi S.A.
1161:companies
880:2013-08-26
768:References
470:Nuevo León
248:Net income
204:(Chairman)
195:Key people
44:footnoting
1626:MUFG Bank
1521:BanCoppel
1457:Bancomext
1336:Petrobras
1331:PagSeguro
1274:Fibra Uno
1264:Falabella
1244:Ecopetrol
1239:Credicorp
1102:Telesites
1072:Megacable
1067:Liverpool
1032:Grupo BMV
824:0025-9284
585:June 2022
556:does not
493:Bancrecer
466:Monterrey
442:June 2022
413:does not
384:blue chip
338:Monterrey
332:) and as
164:Monterrey
101:Traded as
52:June 2022
1534:BanRegio
1525:Bankaool
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1482:Actinver
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1368:Televisa
1311:Localiza
1234:Cencosud
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1107:Televisa
1097:Regional
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215:Services
132:Industry
40:citation
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1565:Inbursa
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1082:Peñoles
1057:Inbursa
972:Banorte
703:Sources
659:Yucatan
577:removed
562:sources
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419:sources
394:History
326:Banorte
310:Website
223:Revenue
150: (
142:Founded
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854:2 May
350:AFORE
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947:Alfa
856:2015
828:PMID
820:ISSN
560:any
558:cite
497:IPAB
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368:ADRs
340:and
152:1899
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123:XNOR
119:BMAD
42:and
1383:WEG
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1219:BRF
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