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Home › Bank profiles
Banco Mercantil del Norte (Banorte)Mexico
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Created on: 2017-01-31 11:30:38
Last update: 2021-10-14 00:00:00

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Banorte's head offices in Monterrey. Photo: Google Earth/Streetview

About Banco Mercantil del Norte (Banorte)

Banco Mercantil del Norte, established in 1899, is a Mexican banking and financial services company and a subsidiary of Grupo Financiero Banorte. It is one of the four largest commercial banks of Mexico and the largest domestically held bank. Banorte offers various banking products and services to individuals and small and medium-sized enterprises in Mexico and the United States. Banorte adopted the Equator Principles in 2012, the bank is profiled as part of our Tracking the Equator Principles campaign.

Website http://www.banorte.com
Headquarters
Avenue Revolucion 3000
NL 64830 Monterrey
Mexico
CEO/chair Jose Marcos Ramirez Miguel
CEO
Supervisor
Comision Nacional Bancaria y de Valores
Annual report Annual report 2020
Ownership
listed on Mexican Stock Exchange (BMV)

Banco Mercantil del Norte is a subsidiary of Grupo Financiero Banorte, of which its shareholder structure can be accessed here.

Complaints and grievances

Grupo Financiero Banorte operates a complaints mechanism via EthicsPoints which can be accessed here.

Policy Assessments

Tracking the Equator Principles

EPFIs reporting status

BankLast update
Country
Reporting period
PF deals under EP
Project names reported
% Project names reported
Details
Banco Mercantil del Norte
2022-03-14
MEX
2020
11
0
0
1.000000001E+36
0
Mexico
Profile
Reporting period
2020
PF deals under EP
11
Project names reported
0
% Project names reported
0
20220314
Last update: 2022-03-14
Explanation

EP reporting page: https://equator-principles.com/reporting-banco-mercantil-del-norte-s-a-2019/

Explanation

Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period. 

For more details see this page.

Banks and Climate

Bank net zero commitments

BankLast update
Country
Target 2025
Target 2030
Net zero 2050
SBT
NZBA
CCCA
Details
Banco Mercantil del Norte
2021-11-04
MEX
-10000
Mexico
Profile
Target 2025
Target 2030
Net zero 2050
SBT
NZBA
CCCA
20211104
Last update: 2021-11-04
Explanation

Banco Mercantil del Norte joined the NZBA in April 21

References
2021-6-1

Net Zero Banking Alliance

2021-6-1 | UNEP FI
Explanation

This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.

  • A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
  • An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.

Abbreviations:

CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets

For more details see this page.

News

| |
Type:
Year:
blog
external news
our news

Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming

Civil society organizations urge banks to adopt stringent “No Go” policy for biodiversity rich areas
2021-05-26 | Nijmegen | BankTrack
blog
external news
our news

New bank climate initiative fails to grasp urgent need to end finance for fossil fuels

Civil society statement on the launch of the Net-Zero Banking Alliance
2021-04-22 | Nijmegen | BankTrack, urgewald, Amazon Watch, Bank on our Future, Indigenous Environmental Network, Market Forces, Positive Money, Rainforest Action Network, Reclaim Finance, ShareAction, Sierra Club
blog
external news
our news

Leading finance firms sign up to Mark Carney forum on low-carbon investment

2021-04-21 | The Guardian
blog
external news
our news

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
blog
external news
our news

Equator Principles: New BankTrack database sheds light on patchy project name reporting

BankTrack publishes database of Equator-financed projects, together with analysis showing some banks report few or no project names – notable poor performers include ING, HSBC and Lloyds
2020-06-29 | BankTrack
blog
external news
our news

Principles must bring commitments

Banks endorsing draft Principles for Responsible Banking called upon to urgently act on what they sign
2018-11-26 | Paris | BankTrack

Documents

Type:
Year:
other documents
2021-06-24 00:00:00

Guidance on Biodiversity Target Setting for PRB signatories

2021-06-24 00:00:00 | UNEPFI
annual reports
2021-06-15 00:00:00

Annual report 2020

2021-06-15 00:00:00 | Banorte
other documents
2021-04-21 00:00:00

Commitment statement Net Zero Banking Alliance

2021-04-21 00:00:00 | UNEP FI Principles for Responsible Banking
annual reports
2020-10-26 00:00:00

Annual integrated report 2019

2020-10-26 00:00:00 | Banorte
csr policies
2020-07-24 00:00:00

Socio-environmental risk policy

2020-07-24 00:00:00 | Banorte
csr policies
2020-07-24 00:00:00

Natural capital policy

2020-07-24 00:00:00 | Banorte
csr policies
2020-05-18 00:00:00

Human rights policy

2020-05-18 00:00:00 | Banorte
csr policies
2020-05-13 00:00:00

Responsible investment policy

2020-05-13 00:00:00 | Banorte
csr policies
2020-05-02 00:00:00

Environmental policy

2020-05-02 00:00:00 | Banorte
bank documents
2019-10-29 00:00:00

Equator Principles report 2018

2019-10-29 00:00:00 | Banorte
csr policies
2019-10-29 00:00:00

Anti-corruption policy

2019-10-29 00:00:00 | Banorte
correspondence
2019-09-13 00:00:00

Letter from Banorte to BankTrack on PRB implementation

2019-09-13 00:00:00 | Banorte
annual reports
2019-07-31 00:00:00

Annual integrated report 2018

2019-07-31 00:00:00 | Grupo Financiero Banorte
csr policies
2018-11-06 00:00:00

Social policy

2018-11-06 00:00:00 | Banorte
annual reports
2018-03-31 00:00:00

Annual report 2017

2018-03-31 00:00:00 | Grupo Financiero Banorte
csr policies
2017-12-31 00:00:00

Code of conduct

2017-12-31 00:00:00 | Banorte
annual reports
2017-03-31 00:00:00

Annual report 2016

2017-03-31 00:00:00 | Grupo Financiero Banorte
annual reports
2016-03-31 00:00:00

Annual report 2015

2016-03-31 00:00:00 | Grupo Financiero Banorte

Policies

Voluntary standards

Banco Mercantil del Norte (Banorte) has committed itself to the following voluntary standards:
  • Carbon Disclosure Project
  • Equator Principles
  • Global Reporting Initiative
  • Natural Capital Declaration
  • Net-Zero Banking Alliance (NZBA)
  • Principles for Responsible Banking (PRB)
  • Principles for Responsible Investment (PRI)
  • Science Based Targets
  • UNEP Finance Initiative
  • United Nations Global Compact

Investment policies

Banorte's webpage on corporate social responsibility can be accessed here.

Year:
csr policies
2020-07-24 00:00:00

Socio-environmental risk policy

2020-07-24 00:00:00 | Banorte
csr policies
2020-07-24 00:00:00

Natural capital policy

2020-07-24 00:00:00 | Banorte
csr policies
2020-05-18 00:00:00

Human rights policy

2020-05-18 00:00:00 | Banorte
csr policies
2020-05-13 00:00:00

Responsible investment policy

2020-05-13 00:00:00 | Banorte
csr policies
2020-05-02 00:00:00

Environmental policy

2020-05-02 00:00:00 | Banorte
csr policies
2019-10-29 00:00:00

Anti-corruption policy

2019-10-29 00:00:00 | Banorte
csr policies
2018-11-06 00:00:00

Social policy

2018-11-06 00:00:00 | Banorte
csr policies
2017-12-31 00:00:00

Code of conduct

2017-12-31 00:00:00 | Banorte

Equator Principles

Implementation and reporting

Contact and complaints

Good moves

Year:
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