Mexico's Banorte profit rises 7 pct in 1st-qtr

jueves 23 de abril de 2015 17:30 GYT

MEXICO CITY, April 23 (Reuters) - Mexico's Grupo Financiero Banorte on Thursday said its first-quarter profit rose 7 percent from the year-earlier period.

The bank, Mexico's fourth largest by assets, reported a profit of 3.88 billion pesos ($254 million), up from a profit of 3.6 billion pesos a year earlier.

Banorte said its loan book, excluding bad loans, expanded 12 percent to $479.8 billion pesos.

Before the report was released, Banorte's shares closed down 0.56 percent at 87.28 pesos per share.

($1 = 15.2610 pesos at end March) (Reporting by Joanna Zuckerman Bernstein)