Monday, October 4, 2010

Banorte looking to buy Banco Ixe

It seems that the last fully owned Mexican bank, Banorte, is looking to purchase Banco Ixe.  While nothing is set in stone yet, the purchase would make Banorte the third largest bank in Mexico after Citibank/Banamex and BBVA Bancomer.

Banco Ixe is a small "boutique" type bank that has seen tremendous success in Mexico.  It has set itself apart by offering a unique customer service experience, treating each customer with respect and specialized attention.

Banorte has had its share of ups and downs this year, including the credit it lent to failed airline, Mexicana de Aviacion.  Banorte is also considering expansion into the United States. 

Banorte is headquarted in Monterrey, Nuevo Leon.

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