Mexican Banks: Stay the Course with Our Two Key Positive Picks, Cautious on SanMex
Political checks to the AMLO political agenda are market positive, as is the US economic recovery; we stick with the Banorte & BanBajio bull calls,...
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Santander Mexico (BSMXB MM) – Opportunistic Cash Offer for Minorities
Opportunistic offer by Santander for the SanMex minorities, at a c37% discount to the April 2019 all share offer. Activist rejection of offer is...
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Mexican Banks YE 2020 Credit Quality Data Points; Banorte Screens Better than Peers
Mexican banks' YE 2020 credit data points to the coming wave of worsening credit quality; Banorte is best positioned among its peers to confront...
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Banorte (GFNORTEO MF) To Boost Provisions; November Banks Data in Charts Reflects System’s Strength
Banorte will top up credit charges in 4Q20, boosting NPL coverage; for 2021 and 2022 we see lesser earnings risk for attractively valued Banorte,...
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Mexican Banks: Confronting the Credit Quality Challenge
Mexican banks have mostly increased provision charges, to bolster loan loss reserves and prepare for the worsening credit quality outlook The...
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