Harnessing Student Potential In Microfinance
The prestigious magazine, Euromoney, acknowledged the growth, innovation, progress, and financial strength that Banorte – IXE has shown for the past 12 months; therefore, it awarded the bank the acknowledgement of “Best Bank in Mexico in 2011” –the most highly recognized award in the financial services industry- as part of the “Euromoney 2011 Awards of Excellence.”
Euromoney based its decision on the evaluation of the six basic areas in which the bank showed outstanding performance:
Progress in corporate governance and Social Responsibility. Dr. Guillermo Ortiz was appointed Chairman of the Board of Directors and Mr. Roberto González, Chairman for Life. Likewise, 50% of the Board members are independent. Banorte – IXE has increasingly better recognition for its Corporate Social Responsibility practices and high levels of excellence in human resources management.
Growth strategy by acquisitions and strategic alliances. It became the first bank in Mexico to offer financial services in convenience stores.
Expansion of the commercial network and market share increase. Thanksto the merge with IXE, Banorte - IXE became the third biggest organization in Mexico, occupying one of the first places in serving SMEs.
Product innovation and better quality service. We already started the construction of the new Contact/Calling Center that will consolidate the existing 14 calling centers, through a friendly, efficient platform, with state-of-the-art technology.
Financial Strength. Until March 2011, the accrued profit for 12 months was $6.9 billion, 19% more, compared to the same period in 2010.
Interest of investors for debt instruments and shares placed by Banorte.
Alejandro Valenzuela, Ph.D,, the General Director of GFNorte, said that the award will encourage everybody at Banorte - IXE to continue doing quality and team work, to improve our position as one of the most profitable commercial banks to make Mexico stronger.