Banorte stock gains new dividend angle after strong Q3

Published on 11/11/2026 at 15:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banorte stock gains a new shareholder-return angle after a stronger third quarter. Management kept its 2026 profit and loan-growth outlook unchanged.

Banorte's capital return plans

Management plans an extraordinary fourth-quarter dividend tied to 2025 net income.
Third-quarter net income rose 9% year over year, while loan growth reached the upper end of guidance.
Banorte kept its 2026 outlook unchanged and highlighted strong capital generation.

Banorte, MXP370711014, Illustration mit AI erstellt.

Grupo Financiero Banorte added a new shareholder-return element to its third-quarter update on November 4, when management said it would seek approval for an extraordinary dividend in the fourth quarter. The proposed distribution equals 20% of 2025 net income, or about MXN 4.18 per share, and would lift the total payout ratio to 70%, according to the Investing.com earnings-call transcript.

Strong quarter, unchanged outlook

Banorte reported third-quarter net income of MXN 15.7 billion, up 9% from a year earlier and 1% sequentially. Nine-month net income reached MXN 47 billion, while return on equity stood at 24.5% for the quarter and 24.7% for the first nine months.

Net interest income increased 12% year over year and net fees rose 14%. Stage 1 and 2 loans grew 11%, at the upper end of the bank's 8% to 11% full-year range. Management retained its 2026 guidance and expects net income of MXN 62 billion to MXN 64 billion, with return on equity between 22% and 24%.

Capital supports shareholder returns

Management said organic capital generation allowed the group to consider the additional distribution while maintaining flexibility for growth. The CET1 ratio reached 13.2% in the third quarter, with executives describing 13% to 13.5% as the comfortable range. The group capital adequacy ratio stood at 22.5%.

Banorte stock traded at 10.13 euros on Lang & Schwarz at 15:32 CET on Wednesday, November 11, 2026. That compares with 10.00 euros in the latest relevant own report dated November 6, a 1.30% increase since that report.