About Banorte
Banorte is a company based in Mexico City (Mexico) founded in 1899.. Banorte has raised $230 million across 1 funding round from investors including Brysam Global Partners. The company has 33,000 employees as of December 31, 2024. Banorte has completed 3 acquisitions, including Inter National Bank, More payment evolution and UniTeller. Banorte offers products and services including Bank Accounts, Credit Cards, Loans, and Insurance. Banorte operates in a competitive market with competitors including Citi, Scotiabank, Bank of America, Banamex and Gob, among others.
- Headquarter Mexico City, Mexico
- Employees 33000 as on 31 Dec, 2024
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Grupo Financiero Banorte Sab De Cv Class O
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Annual Revenue
$21.78 B (USD)8.98as on Dec 31, 2024
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Net Profit
$2.71 B (USD)7.19as on Dec 31, 2024
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EBITDA
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Total Equity Funding
$230 M (USD)
in 1 rounds
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Latest Funding Round
$230 M (USD), Private Equity Round
Jun 12, 2017
- Investors
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Employee Count
33000
as on Dec 31, 2024
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Investments & Acquisitions
Inter National Bank
& 2 more
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IPO & Listings of Banorte
Banorte is a publicly listed company on the BMV with ticker symbol GFNORTE/O in Mexico, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Banorte
Banorte offers a comprehensive portfolio of products and services, including Bank Accounts, Credit Cards, Loans, and Insurance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Accounts for managing personal and business finances securely.
Cards for purchases and cash advances with fraud protection.
Financial loans for autos, homes, and personal needs.
Policies for life, auto, and health coverage options.
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Funding Insights of Banorte
Banorte has successfully raised a total of $230M through 1 strategic funding round. The most recent funding activity was a Private Equity Round round of $230 million completed in June 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Private Equity Round — $230.0M
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First Round
First Round
(12 Jun 2017)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2017 | Amount | Private Equity Round - Banorte | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Banorte
Banorte has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Brysam Global Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Financial services companies are invested in by Brysam Global Partners.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Banorte
Banorte has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Inter National Bank, More payment evolution and UniTeller. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cross-border payment processing solutions are offered to businesses.
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2003 | ||||
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Online platform for remittances
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1993 | ||||
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Commercial banking services are offered to businesses and individuals.
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1985 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Banorte
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Banorte Comparisons
Competitors of Banorte
Banorte operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Citi, Scotiabank, Bank of America, Banamex and Gob, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Diversified financial services are offered through commercial banking operations.
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| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Commercial banking and asset management services are offered worldwide.
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| domain | founded_year | HQ Location |
Commercial banking services are offered in Mexico.
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| domain | founded_year | HQ Location |
Commercial banking services are provided to clients in Mexico.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Banorte
Frequently Asked Questions about Banorte
When was Banorte founded?
Banorte was founded in 1899 and raised its 1st funding round 118 years after it was founded.
Where is Banorte located?
Banorte is headquartered in Mexico City, Mexico.
Is Banorte a funded company?
Banorte is a funded company, having raised a total of $230M across 1 funding round to date. The company's 1st funding round was a Private Equity Round of $230M, raised on Jun 12, 2017.
How many employees does Banorte have?
As of Dec 31, 2024, the latest employee count at Banorte is 33,000.
What is the annual revenue of Banorte?
Annual revenue of Banorte is $21.78B as on Dec 31, 2024.
What does Banorte do?
Banorte was established in 1899 and is based in Mexico City, Mexico. Operations in the commercial banking sector are conducted, with services encompassing banking, treasury, financial products, and insurance offered to individual and corporate clients. Focus is placed on the Mexican market, where annual revenues of 16.82B were achieved in 2022 alongside a net profit of 2.26B.
Who are the top competitors of Banorte?
Banorte's top competitors include Citi, Scotiabank and Bank of America.
What products or services does Banorte offer?
Banorte offers Bank Accounts, Credit Cards, Loans, and Insurance.
Is Banorte publicly traded?
Yes, Banorte is publicly traded on BMV under the ticker symbol GFNORTE/O.
How many acquisitions has Banorte made?
Banorte has made 3 acquisitions, including Inter National Bank, More payment evolution, and UniTeller.
Who are Banorte's investors?
Banorte has 1 investor. Key investors include Brysam Global Partners.
What is Banorte's ticker symbol?
The ticker symbol of Banorte is GFNORTE/O on BMV.
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