GFNorte: 2020 Guidance - Cost of Risk & Other Factors Challenge the ROE Target
The stock is trending higher, but we see that there are risks to management's guidance at Grupo Financiero Banorte-O (GFNORTEO MM) especially on...
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OTP Bank: Cracks in the Lustre of Popularity
At Creative Portfolios, we do not like overcrowded trades. Regarding EM banks, there are a number of popular choices. As Steven Holden shows us,...
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Mexican Banks Data November 2019; Better than October, but the Soft Macro Drives Our Cautious Stance
Mexican banking trends to November show steady if uninspiring loan growth, with flattish loan spreads, and a controlled delinquency rate Given the...
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Galliano's Latin Notes 2019 Recommendations in Review, and Initial Thoughts for 2020
Our post mortem of 2019 recommendations shows that we have had some successes; good bull calls were Gentera SAB De CV (GENTERA* MM EQUITY) in...
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Banorte (GFNORTEO MM); Management's Initial 2020 Guidance Looks Too Optimistic
Grupo Financiero Banorte-O (GFNORTEO MM) hosted a conference call on November 4th to outline the integration of the Interacciones acquisition...
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