2012 Annual Report - Ixe

Notas a los Estados Financieros
Grupo Financiero Banorte
SMEs
Driving the SME segment is part of Grupo Financiero Banorte’s
main development strategies. In 2012 such efforts translated
into loan portfolio totaling Ps. 29.71 billion, an increase of 26%
on 2011.
In 2012 GFNorte also managed to position itself in the small and
medium-sized enterprise sector through the inclusion of 8 new
SME Centers located in the country’s main cities. Thus, at the
end of 2012 there were 10 specialized offices attended by a
broad team of qualified people who seek to provide customers
in this segment with a comprehensive service.
WHOLESALE BANKING
Government Banking
State and Municipal
The strengthening of the structures of the loans we grant to
States and Municipalities underpinned the improvement in S&P’s
credit rating outlook for Banco Mercantil del Norte, Ixe Banco
and Casa de Bolsa Banorte Ixe from “Stable” to “Positive”.
This was achieved in 2012 because:
• 98% of the loans have a fiduciary guarantee and a source
of payment consisting of federal contributions or proprietary
revenues.
• 79% of the loans have an interest rate hedge during the
life of the loan.
• Long-term loans are recorded or informed in the SHCP
public debt registry.
• 99.4% of the loan portfolio has been assigned a rating of
B1 or above.
• All of the long-term loans have a favorable legal report
regarding the correct appropriation of federal contributions
or proprietary revenue as a source of payment.
• At the end of 2012 past due loans were almost zero
Federal Government
In 2012 the Group began a business relationship with UNAM
and TRIFE, attending to all of their financial needs. With the
same focus on service and specialization, in the energy sector
Banorte has strengthened its relationship and service model
with PEMEX and CFE.
Given its focus on increasing its national payroll accounts,
Banorte managed to add 113,000 Federal Government
employees for a total of 935,000 in this Government sector.
Relying on a stronger Banorte-Ixe Investment Banking structure,
the Group has participated as underwriter and co-underwriter
of debt issuances for FOVISSSTE, PEMEX and GDF.
The upgrade in the perspective was due to the improvement
in Banco Mercantil del Norte’s risk positions, specifically in
state and municipal loan portfolios, and expectations that risk
diversification is ongoing and adequate capitalization levels
are maintained.
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