Banorte And Ixe Rumored in Pact

Mexico’s Banorte and Ixe are rumored by local press to be in talks about a merger. In a statement to bolsa, Banorte says it is analyzing “different strategic alternatives to continue consolidating its leadership position as one of the most important institutions in the Mexican financial system.” In a separate statement, Ixe says it is analyzing different strategic alternatives as part of a constant effort to maximize the value of the institution. It adds that it wants to boost its competitive capacity in the local market.