Luis Ernesto Pietrini Sheridan

Deputy Managing Director
Private and Patrimonial Banking

“For Banorte the great challenge is to find opportunites in each crisis or situation.”

Luis Ernesto Pietrini Sheridan

Deputy Managing Director
Private and Patrimonial Banking

2016 Performance

2016 was a good year in terms of revenue, we ended the year 10% over our estimated goal. Volatility in capital markets and interest rate increases led to a greater number of operations and, consequently, more commissions.

Mutual funds, our main product, increased their offering, with (fund of funds), national and international.

The foreign exchange market had more operations with the depreciation of the peso against the dollar, and this generated commissions that helped results. As a coverage method, Ixe USA funds demonstrated good performance in sales.

Mutual funds, our main product, increased their offering, with a fund of funds, both national and international, allowing our customers to take advantage of the good performance of the stock markets in the United States and Europe.

We are working on a segmentation strategy to separate customers into three groups: personal, preferred and patrimonial, and private, which has allowed us to offer products that are suitable to each different profile.

2017 PROSPECTS

The scenario for Mexico’s economy appears challenging in 2017. The GDP is expected to have marginal growth, so it is expected that customers will have fewer assets available to invest.

For Banorte, the great challenge is to find opportunities in each crisis or situation. Our job is to show customers the investment options, find companies that are being managed in a healthier manner and that are in the sectors and activities that can benefit from the new situation.

In 2017 we intend to strengthen our proposal for value, our sales model and the price of products aimed at patrimonial and private banking clients.

Our proposal for value will include products for trading, mutual funds, investment banking and Banorte-Ixe Securities’ services with investments in the United States. We can strengthen this proposal with the bank credit products, as well as trust fund products.