January 26, 2017 / 11:03 PM / in a year

UPDATE 1-Mexico's Banorte 4th-qtr profit rises on strong loans

(Adds details for rise, share price)

MEXICO CITY, Jan 26 (Reuters) - Mexico’s Grupo Financiero Banorte, the country’s fourth-largest bank by assets, on Thursday reported a 6 percent rise in fourth-quarter profit, boosted by strong performance in its consumer and corporate loan portfolios.

Banorte, the largest Mexican-owned bank in the country, said profit rose to 5.244 billion pesos ($247 million) during the October-to-December period, up from 4.940 billion during the same period in 2015.

Its corporate portfolio registered a year-on-year increase of 17 percent to 103.4 billion pesos, as did its commercial portfolio, which reached 145.2 billion pesos, and its consumer loan portfolio, which amounted to 204.8 billion pesos.

The bank’s non-performing loan portfolio fell to 1.7 percent from 2.2 percent in the fourth quarter of 2015.

Shares of Banorte closed down 1.32 percent before results were released. ($1 = 20.64 pesos on Dec. 30) (Reporting by Noe Torres and Natalie Schachar; Editing by Sandra Maler)

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