EconomyBanorte receives authorization from the CNBV to create a...

Banorte receives authorization from the CNBV to create a digital bank

Grupo Financiero Banorte received authorization from the National Banking and Securities Commission (CNBV) to operate a 100% digital or fintech bank.

“The authorization is an important step in the development of our digital bank, which allows us to get closer to the consolidation of our medium-term corporate strategy,” the bank said in a statement sent to the Mexican Stock Exchange.

The bank explained that this is an important step in the consolidation of its medium-term corporate strategy, as well as the search for its leadership in the Mexican digital market.

Later, Banorte will give details of this new business and expressed its commitment to follow the best international corporate practices.

Banorte is one of those interested in buying Banamex and joins institutions such as Banregio that also seek to separate the business from traditional banking with banks that operate 100% digitally.

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