Mexico’s Banorte Calls Shareholder Meeting

Mexico’s fourth-largest financial group, Banorte, has called a shareholders’ meeting for 6 October in Monterrey to discuss issuing a cash dividend and increasing the bank’s capital by $488.7 million by issuing new Series ‘O’ ordinary shares. The share price rose 1.74% to P94.50 yesterday. Banorte reported second quarter net income of $190 million, up 249% on the previous year.