($1 = 18.0201 pesos at end-March)
(Reporting by Isabel Woodford and Noe Torres; Editing by David
Alire Garcia)
(Adds details on results)
MEXICO CITY, April 20 (Reuters) - Mexico's Grupo
Financiero Banorte reported a 21.1% increase in
its first quarter net profit from the year-ago period, the
company said in a statement on Thursday.
Net profit for the January-to-March period totaled 13.02
billion pesos ($722 million).
Revenue for the group, which owns one of the country's
largest banks and pension funds, totaled 32.33 billion pesos
($1.8 billion) in the first quarter, up 16.6% from a year
earlier.
The bank's performing loan book also grew, rising 4%
quarter-over-quarter.
Non-interest expenses in the quarter increased 11%
versus a year earlier, while earnings per share reached 4.515
pesos in the first three months of the year.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.