Mexico’s Banorte reports 3nd-quarter net profit of $430 mln

Mexico’s Grupo Financiero Banorte (GFNORTEO.MX) on Thursday reported net profit of 8.874 billion pesos ($429.9 million) in the third quarter, down 0.4% from 8.906 billion pesos in the same year ago period.

Revenues for the group, which owns one of the country’s largest banks and pension funds, stood at 25.115 billion pesos in the July to September period, versus 25.481 billion pesos posted a year earlier.