July 23, 2020 / 8:57 PM / 18 days ago

Mexico's Banorte posts 25% drop in net profits for 2nd quarter

MEXICO CITY, July 23 (Reuters) - Mexico’s Grupo Financiero Banorte said on Thursday that net profits dropped by 25% in the second quarter to 6.5 billion ($283.9 million) pesos compared to the same period a year earlier.

The group also reported a 8% increase in total revenues over the period to 26.6 billion pesos.

$1= 22.9570 pesos at end-June Reporting by Noe Torres

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