Banorte stock trades at EUR 2.02 after volume review

Published on 09/30/2026 at 21:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banorte stock carries a latest Buy target of MXN 238.00 after the September 18 volume review. Second-quarter net income reached MXN 15.6 billion, up 6 percent year over year.

Banorte, MXP370641013, Illustration mit AI erstellt.

Banorte stock (ISIN MXP370641013) was trading at EUR 2.02 at Lang & Schwarz on September 30, 2026 at 9:23 p.m. CEST, down 0.98 percent versus the prior close of EUR 2.04. The immediate company issue is a review of unusual trading activity, while the latest quarterly figures show a profitable bank with a 25.7 percent return on equity.

Volume review shifts the focus

According to The Globe and Mail on September 18, 2026, Grupo Financiero Banorte attributed the unusual surge in GFNORTEO trading volume to market conditions rather than internal corporate action. The disclosure followed a review requested under Mexican securities regulations.

The same report said Banorte found no evidence that board members or senior executives drove the volume spike through trades. For investors, that distinction matters because the event concerns trading behavior and governance scrutiny, not a reported change to the bank's operating results.

Quarterly profit sets the baseline

In the second quarter of 2026, Banorte earned MXN 15.6 billion in net income, up 6 percent from a year earlier, according to AInvest. Return on equity reached 25.7 percent, while non-performing loans stood at 1.5 percent and cost of risk at 1.9 percent.

Management reaffirmed 2026 targets of 8 to 11 percent loan growth and 27 to 29 percent return on equity, with cost of risk guidance at 1.8 to 2.1 percent, AInvest reported. The comparison between 25.7 percent current quarterly return on equity and the 27 to 29 percent full-year target leaves execution, credit quality and loan demand as the next measurable checkpoints.

Banorte stock trades at EUR 2.02

Banorte stock was trading at EUR 2.02 at Lang & Schwarz on September 30, 2026 at 9:23 p.m. CEST, down 0.98 percent against the prior close of EUR 2.04. The latest cited analyst view was Buy with a MXN 238.00 price target, as reported by The Globe and Mail.