Mexico's Banorte sees net profits drop 6.3% in Q1 2021


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MEXICO CITY, April 22 (Reuters) - Mexico's Grupo Financiero Banorte GFNORTEO.MX on Thursday reported a 6.3% drop in net profit to 8.54 billion pesos ($418.2 million) for the first quarter of this year when compared to the same quarter a year earlier.

Revenues for the group, which owns one of the country's largest banks and pension funds, declined 7.1% between January and March this year to 25 billion pesos.

($1 = 20.4200 Mexican pesos end-March)

(Reporting by Noe Torres; editing by Diane Craft)


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