Business & Finance
Business and Finance
Business and Finance
Mon, September 27, 2010
Sun, September 26, 2010
Fri, September 24, 2010 Standard & Poor's Initiates Factual Stock Report Coverage on Grupo Financiero Banorte
NEW YORK--([ BUSINESS WIRE ])--Standard & Poora™s announced today that it has commenced [ Factual Stock Report coverage on Grupo Financiero Banorte ].
Grupo Financiero Banorte, S.A.B. de C.V. (OTC: GBOOY), together with its subsidiaries, provides various banking and financial services in Mexico and the United States. The company offers various deposit and loan products. Its deposit product portfolio includes money market deposits, time deposits, demand deposits, payroll accounts, checking accounts, and promissory notes. The company's loan product line comprises loans to families, such as payroll loans, car loans, credit cards, and mortgages; loans to institutions; loans to small and medium sized enterprises consisting of factoring and leasing; loans to corporate and entrepreneurial entities; and government loans.
In addition, the company also manages a broker dealer operation in the United States under the Banorte Securities International name, and owns a Texas-based bank named Inter National Bank, as well as two remittance companies named Uniteller, based in New Jersey, and Motran, based in California. Further, it provides long term savings products, including life, car, casualty, and education insurance; retirement savings funds; and annuities.
Grupo Financiero Banorte has a network (as of June 2010) of 1,102 branches, and operates 4,685 automatic teller machines and 52,117 point-of-sale terminals.
As of June 30, 2010, assets totaled Mexican Peso (Ps.) 601.1 billion.
The company's business sectors include the banking sector, long term savings sector, brokerage sector, and specialized entities sector.
This report will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit [ www.banorte.com ] for additional information.
About Standard & Poor's Factual Stock Reports
This Standard & Poora™s service provides factual research coverage enabling information about Grupo Financiero Banorte and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a companya™s fundamentals and business prospects. Currently profiling over 500 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.
Standard & Poora™s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poora™s. Standard & Poora™s Factual Report research has no access to non-public information received by other units of Standard & Poora™s. Standard & Poora™s does not trade on its own account.
Note:All U.S. and Canadian Companies listed on a National Exchange (not covered by S&Pa™s STARS research) are eligible to obtain this coverage.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 10,000 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit [ http://www.standardandpoors.com ].
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