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Grupo Financiero Banorte SAB de CV Class O (GBOOF)
OTHER OTC:GBOOF
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Earnings Data
Report Date
Jan 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.26Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 18, 2018
|% Change Since: 5.42%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment with strong financial performance, digital growth, and recognition for innovation, despite challenges related to inflation, currency volatility, and judicial reform concerns.Company Guidance
During the Q3 2024 earnings call for Grupo Financiero Banorte (GFNORTEO.MX), the executives provided detailed guidance on several key metrics. They adjusted their GDP growth expectation for 2024 to 1.3% and 1% for 2025, citing global headwinds, despite Mexico's resilience. Inflation is expected to end 2024 at 4.7% and 2025 at 4%, with anticipated interest rate cuts reaching 10% by December 2024 and 8% by the end of 2025. The bank's loan portfolio expanded with a 24% year-on-year growth in the corporate book and a 10% increase in commercial loans. Asset quality remained strong, with stable non-performing loans (NPLs) at 1% and a cost of risk at 1.6%. The net interest margin (NIM) was reported at 6.5%, with a strong return on equity (ROE) of 22.7%. Banorte's capital adequacy ratio stood at 19.2%, and they highlighted plans for potential capital optimization strategies. The call also emphasized Banorte's commitment to sustainable finance and financial education, alongside the celebration of its 125-year anniversary.Strong Capital Adequacy Ratio
The capital adequacy ratio is at 19.2%, demonstrating the group's strong capital position.
Resilient Loan Portfolio Growth
The loan portfolio reported double-digit growth with a 24% increase in the corporate book and 10% in commercial, driven by business activity across multiple sectors.
Net Income Growth
Net income showed a 7% year-on-year increase to MXN 14.2 billion, with accumulated net income for 2024 reaching MXN 42.5 billion, 8% higher than the same period last year.
Improvement in Digital Transactions
The number of digital active clients grew 11% compared to the third quarter of 2023, reflecting the enhancement of digital capabilities.
Recognition for Innovation
Banorte was ranked as the most innovative bank in Latin America by The Banker in 2024.
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Grupo Financiero Banorte SAB de CV (GBOOF) Earnings, Revenues Date & History
GBOOF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GBOOF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $6.83 | $6.70 | -1.90% |
| Jul 23, 2024 | $8.14 | $7.99 | -1.84% |
| Apr 16, 2024 | $9.40 | $9.55 | +1.60% |
| Jan 17, 2024 | $9.08 | $8.93 | -1.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Grupo Financiero Banorte SAB de CV Class O (GBOOF) report earnings?
Grupo Financiero Banorte SAB de CV Class O (GBOOF) is schdueled to report earning on Jan 28, 2025, TBA Not Confirmed.
What is Grupo Financiero Banorte SAB de CV Class O (GBOOF) earnings time?
Grupo Financiero Banorte SAB de CV Class O (GBOOF) earnings time is at Jan 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GBOOF EPS forecast?
Currently, no data Available
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