Always Strong Always There For You
2020 Annual Report
Always Strong Always There For You
2020 Annual Report
| SASB Indicator | Assurance | Page of PDF | Description | 2020 Statement |
|---|---|---|---|---|
| SASB Business ethics | ||||
| FN-CB-510a.1 FN-AC-510a.1 |
64 | Total amount of monetary losses as a result of legal proceedings associated with fraud, insider trading, anti-trust, anti-competitive behavior, market manipulation, malpractice, or other related financial industry laws or regulations | Technology Capital and Infrastructure. During the year, 126 cases were recorded for a total of Ps 3.4 million in fines or sanctions. Fines were levied by IMSS, INFONAVIT, CNBV, CONDUSEF, IPAB and Banco de México; they have all been paid. | |
| FN-CB-510a.2 | 31 | Description of whistleblower policies and procedures | Ethics and Governance | |
| SASB Professional integrity | ||||
| FN-IB-510b.4 | 31 | Description of approach to ensuring professional integrity, including duty of care | Ethics and Governance | |
| SASB Employee diversity and inclusion | ||||
| FN-IB-330a.1 FN-AC-330a.1 |
33, 70 | Percentage of gender and racial/ethnic group representation for executive management, non-executive management, professionals, and all other employees | Ethics and Governance, Human Capital | |
| SASB Transparent information & fair advice for customers | ||||
| FN-IN-270a.1 | - | Total amount of monetary losses as a result of legal proceedings associated with marketing and communication of insurance product-related information to new and returning customers | During the year, 14,042 complaints were filed with CONDUSEF, only 11.08% were admitted. | |
| FN-AC-270a.2 | - | Total amount of monetary losses as a result of legal proceedings associated with marketing and communication of financial product-related information to new and returning customers | During the year, 14,042 complaints were filed with CONDUSEF, only 11.08% were admitted. | |
| FN-IN-270a.4 FN-AC-270a.3 |
82 | Description of approach to informing customers about products and services | Intellectual Capital
GFNorte has a policy regarding the content posted on its public website.
 Mutual Funds
Afore XXI
Grupo Financiero Banorte S.A.B. de C.V. and its financial entities, a financial services company, protects the personal data of its clients in accordance with the Federal Law on Protection of Personal Data Held by Private Parties and its regulations, to safeguard the integrity, privacy and protection of their personal data. For more information, visit: https://www.banorte.com/wps/portal/gfb/Home/banorte-te-informa/aviso_de_privacidad/ |
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| SASB Selling practices | ||||
| FN-CF-270a.4 | - | Number of complaints filed with the Consumer Financial Protection Bureau (CFPB), percentage with monetary or non-monetary relief, percentage disputed by consumer, percentage that resulted in investigation by the CFPB | During the year, 14,042 complaints were filed with CONDUSEF, only 11.08% were admitted. | |
| FN-CF-270a.5 | - | Amount of monetary losses as a result of legal proceedings associated with selling and serving of products | During the year, 14,042 complaints were filed with CONDUSEF, only 11.08% were admitted. | |
| SASB Lending practices | ||||
| FN-MF-270a.3 | - | Total amount of monetary losses as a result of legal proceedings associated with communications to customers or remuneration of loan originators | During the year, 14,042 complaints were filed with CONDUSEF, only 11.08% were admitted. | |
| SASB Customer privacy | ||||
| FN-CF-220a.2 | 67 | Amount of monetary losses as a result of legal proceedings associated with customer privacy | Technology Capital and Infrastructure | |
| SASB Data Security | ||||
| FN-CB-230a.1 | 64 | Number of data breaches, percentage involving personally identifiable information (PII), number of account holders affected | Technology Capital and Infrastructure | |
| FN-CB-230a.2 | 64 | Description of approach to identifying and addressing data security risks | Technology Capital and Infrastructure | |
| FN-CF-230a.2 | 64 | Card-related fraud losses from card-not-present fraud and card-present and other fraud | Technology Capital and Infrastructure In 2020 Banorte reports a 73% reduction in net fraud loss compared to 2019. | |
| SASB Policies designed to incentivize responsible behavior | ||||
| FN-IN-410b.2 | 22, 56 | Discussion of products and/or product features that incentivize health, safety, and/or environmentally responsible actions and/or behaviors | Business strategy and sustainability
See our policies at: https://investors.banorte.com/en/sustainability/resources/policies-and-procedures |
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| SASB Incorporation of environmental, social, and governance (ESG) factors in investment banking & brokerage activities | ||||
| FN-IB-410a.2 | 40 | Number and total value of investmentsand loans incorporating integration ofenvironmental, social, and governance (ESG) factors, by industry | Financial Capital | |
| FN-IB-410a.3 | 49, 56 | Description of approach to incorporation of environmental, social, and governance (ESG) factors in investment banking and brokerage activities | Financial Capital | |
| SASB Incorporation of enviornmental, social and governance factors in investment management & advisory | ||||
| FN-AC-410a.1 | 52 | Amount of assets under management, by asset class, that employ integration of environmental, social, and governance (ESG) issues, sustainability-themed investing, and screening | Financial Capital | |
| FN-AC-410a.2 | 52 | Description of approach to incorporation of environmental, social, and governance (ESG) factors in investment and/or wealth management processes and strategies | Financial Capital | |
| FN-AC-410a.3 | 52 | Description of proxy voting and investee engagement policies and procedures | Financial Capital | |
| SASB Incorporation of environmental, social and governance (ESG) factors in credit analysis | ||||
| FN-CB-410a.2 | 49 | Description of approach to incorporation of environmental, social and governance (ESG) factors in credit analysis | Financial Capital | |
| SASB Discriminatory lending | ||||
| FN-MF-270b.3 | - | Description of policies and procedures for ensuring nondiscriminatory mortgage origination | See our policies at: https://investors.banorte.com/en/sustainability/resources/policies-and-procedures |
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| SASB Financial inclusion & capacity building | ||||
| FN-CB-240a.4 | 89 | Number of participants in financial literacy initiatives for unbanked, underbanked, or underserved customers | Social Capital | |
| SASB Employee incentives and risk taking | ||||
| FN-IB-550b.3 | - | Discussion of policies around supervision, control, and validation of traders’ pricing of Level 3 assets and liabilities | GFNorte has a policy on Evaluation and Approval of Initiatives and Projects for New Products and Services. - We do not have Level 3 liabilities. Banorte has some assets that may be classified as Level 3, corresponding mainly to securities whose issuers had certain problems with their settlement in accordance with the investment prospectus, and which ceased to be securities instruments with market value; in these cases an estimation of their value was prepared an,d when necessary, an adjustment when the next result was a decline. | |
| SASB Environmental risk exposure | ||||
| FN-IN-450a.3 | 58 | Description of approach to incorporation of environmental risks into the underwriting process for individual contracts and the management of firm-level risks and capital adequacy | Financial Capital | |