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GFNorte reports Net Income of Ps $2,007 million in 3Q08, 15% YoY and 11% QoQ.
- Grupo Financiero Banorte announced today its results for 9M08, reporting net income of Ps $5.7 billion, 12% higher YoY. GFNorte's annualized ROE for the period was 22%, while ROA was 2.5%.
- The Bank contributed with 88% of the Group's profits, totaling Ps $5 billion in 9M08; 15% higher than in 2007. During the period, there was constant growth in core earnings derived from traditional banking activities, both from higher lending and and increase in core deposits.
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