In 2016 we achieved good results and significantly exceeded our goals. It was a year of great challenges and satisfaction for International Banking of Banorte, which undoubtedly allows us to continue on the right track towards our 20/20 Vision plan.
FOREIGN TRADE AND INTERNATIONAL BUSINESS
In Mexico our Foreign Trade customers were able to count on our framework of specialized attention that minimized response times and improved the quality of the same, as a result transactions and volume operated in letters of credit increased with an outstanding performance in the energy and communications sector, due to this good performance we have doubled our income of 3 years ago in foreign trade and international services. Additionally our strategic partnerships with financial institutions abroad allowed us to offer a world of solutions and financial services both in Mexico and abroad. On the other hand our specialized care channel, International Desk, has supported more than 160 foreign companies through the various Banorte banks.
In the United States, our international payments platform Uniteller, continued to demonstrate strong growth, processing 12.6 million transactions through our network of payers, an increase of 31% versus the previous year. The year was influenced by various external factors such as the appreciation of the dollar against the peso and the presidential elections in the United States, likewise growths were also due to internal factors such as: the expansion of our points of payment in more than 30 countries, investments in technology and the successful implementation of strategies to expand our customer base. Meanwhile our digital platform has facilitated sending remittances at a lower cost to benefit a larger number of Mexicans.
BANORTE - IXE SECURITIES
Despite adverse market conditions in the first part of the year we managed to increase revenues by 8% annually versus the previous year, administering more than US $840 million dollars in assets.
Our New York-based brokerage firm offers a range of investment alternatives mainly for our customer base of Patrimonial banking of Casa de Bolsa Banorte – Ixe.
Inter National Bank
Our bank in Texas demonstrated positive development during 2016 having administered loans for US $ 1,058 million dollars, which represents a 13% growth versus last year, likewise asset quality and capital indicators remain solid and above those of district the national competitors’ average.