Banorte supports adjustments in Afores promoted by AMLO, evaluates impact on workers – Publimetro México

Banorte has strengthened to become the second financial group largest in the country thanks to commercial efforts and the availability of digital services, especially following the launch of its 100% digital bank’bineo‘—which already reaches eight thousand clients and more than 46 thousand transactions—, highlights its general director Marcos Ramirez.

Facing the 87 Banking Convention which takes place on April 18 and 19 in the recently rebuilt port of Acapulco, Guerrerothe banker evaluates the economic performance of the current government as positive and asks the presidential candidates to work for economic and social development in a responsible and sustainable manner.

How does Banorte evaluate the economic progress of the current government and what are the growth forecasts for this year?

— We consider the government’s performance in economic terms as positive. Macroeconomic aspects have been respected and the country has experienced constant growth in the last years of this administration. According to our studies and forecasts, we expect growth of 2.4% this year.

Do you consider that there are (or might be) any macroeconomic risk factors for the country?

— Mexico has very important macroeconomic stability, in addition to having one of the strongest banking systems in the world. Due to the above, we do not see any risk factors today.

Banorte. The general director of Banorte, Marcos Ramírez, confirmed that the institution is already the second largest financial group in Mexico. (Photo: Courtesy)

What requests, demands or concerns will you present to the candidates?

— We seek and are willing to work and collaborate with any government that seeks the development of Mexicans, communities and families. The only request we have for the candidates is that they work for economic and social development in a responsible and sustainable way.

Regardless of who wins the Presidency, what do you expect from the next government in terms of projects?

— To further promote comprehensive social economic development in all regions of the country, Banorte is ready to contribute with the next administration to support families and communities to achieve their potential.

Regarding the project that reforms the pension scheme, do you already have a first evaluation of what it will represent for Afore XXI?

— The objective of this reform is to guarantee a pension of 100% of the last salary obtained for workers registered in the IMSS and ISSSTE under the Afores pension scheme. Those who earn or retire with less than the average salary of the Mexican Social Security Institute will have this right at age 65: 16,777 pesos per month. We believe that achieving 100% replacement rates for lower-income workers is desirable and consistent with international best practices.

Banamex’s intention to sell made many of its clients change banks. How did Banorte benefit?

— Banorte has consolidated itself in recent years as the second largest financial group in the country, this is thanks to discipline and having a clear vision. In 2021 we launched our “Vision 123”, which aimed to be the number one financial group doing banking in a digital world. Today we are a benchmark bank in Mexico, which provides security, certainty and an excellent experience to our clients.

How much has customer acquisition accelerated in the last two years and in what financial products in particular?

— Banorte’s traditional deposits expanded 15% in 2023 and 12% in 2022. Deposit performance has been driven by different commercial efforts through our branch network, the personalization approach to attract, retain and develop customers payroll clients, the availability of self-service through our digital channels, as well as the strategic focus of growing and making profitable the relationship of comprehensive and transactional financial services with SMEs.

What are the investment plans for the coming months?

— The investments we have planned for the coming months will be focused on innovation, technology, security and the talent of our colleagues.

Banorte recently launched the first 100% digital bank, how is it going, what is its growth rate?

— On January 29 of this year, we launched bineo, the first 100% digital bank, with an investment of 260 million dollars, thereby consolidating our omnichannel offering for all types of user profiles. With data as of the end of February 2024, bineo has more than 8 thousand clients, who have made more than 46 thousand transactions.

What other projects or products do you have in your sights?

— Our commitment is to continue growing in all our portfolios and adapt to the needs of our clients.

“We will continue seeking to grow in mortgage and automotive loans, since they are the most noble and allow our clients to obtain durable goods that drive them to achieve their personal, financial and professional goals”

— Marcos Ramírez Miguel, general director of Banorte

What actions will you implement or intensify to give greater impetus to banking in the country?

—The digitalization of banking is one of the main tools we have to promote bankingization. Also through our correspondents and commercial alliances with self-service stores.

What measures have you implemented to strengthen cybersecurity?

— We seek every day to improve and innovate in our processes and services to continue having the highest standards in cybersecurity and protect our clients. We have alliances with leading companies to share systems and continue offering secure banking.

How big is the investment to reinforce cybersecurity?

— In addition to having a specialized team and training all our collaborators in cybersecurity issues, Banorte allocates around 12% of its annual investment to this area each year.

The effects of climate change and water scarcity have become a widespread concern in the country, what sustainability measures does the bank implement to care for the environment and what results have they given?

— In environmental matters, during this year we concluded with the quantification of emissions from the nine most carbon-intensive sectors of our portfolio, thus complying with the first step within the guidelines of the Net Zero Banking Alliance. During 2023, the execution of 41 projects related to sustainability began. In addition, this year Banorte carried out its first issuance of Long-Term Sustainable Bank Stock Certificates on the Mexican Stock Exchange for 13,064 million pesos as part of its commitment to contribute to the financing of projects that benefit society and the environment. .