Banorte: A solid first quarter and a view to the World Cup
The numbers have just arrived. The Banorte Financial Group reported a net profit of 15,458 million pesos between January and March. It is a modest growth, 1% compared to the same period last year, but in this economic theater, maintaining the pace is already an act worthy of applause.
The script behind these figures? Variations in interest income and, pay attention to this, an increase in provisions. It is as if the bank, seeing the future outlook, decided to save a little more for possible complicated scenes.
But here comes the interesting plot. While the current credit portfolio grew by 6% (exceeding 1.25 trillion pesos), consumer credit jumped by 11%. People continue spending, trusting. And the Delinquency Rate remained stable at 1.4%, a sign that, for now, the work is developing without major shocks.
The big act: Banorte on the World Cup stage
Now, let’s move on to the second act, which is pure geopolitical and financial drama. Marcos Ramírez, general director of the group, broke the news: Banorte will be the brain behind the payments in the 2026 World Cup stadium.
“The institution will be responsible for the payment infrastructure within the building that will host the World Cup,” announced Ramírez.
Translation: forget about cash. Everything will be under a strictly ‘cashless’ scheme. Cards, apps, wearables… Banorte will manage the flow of digital money while millions shout the goals.
And there is a curious detail that smacks of international bureaucracy. By FIFA regulations, the stadium will no longer be called by its commercial name during the tournament.
“The venue will stop using its commercial name to be officially called ‘Mexico City Stadium’,” said the manager.
The property is already more than 90% complete and has a delivery date to FIFA: next May 11. The curtain rises soon. Banorte not only counts its quarterly profits; is preparing his participation in one of the biggest shows on the planet. Politics and money, as always, are the hidden protagonists of the game.
