Grupo Fin Banorte Ord (GBOOF) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, I'm Tom Adlosano, Head of Corporate Development, Investor Relations, and ESG. Welcome to Grupo Financieros Banorte First Quarter Earnings Call. I would like to start by thanking our investors for their feedback throughout the year, which has helped us to consistently improve our recently launched 2023 Annual Report. This year, we added a supporting document which will help you to measure the group's progress across the main financial and non-financial indicators. We will begin today's presentation with our CEO, Marcos Ramírez, who will provide a brief context of the macroeconomic environment that contributed to the results of the quarter, followed by the main results of the bank and the subsidiaries, including Rappi and Bineo, ending with an update on sustainability. Then Rafael Arana, our COO, will provide details on the NIM evolution, the continued efforts to reduce balance sheet sensitivity, as well as a positive result regarding asset quality and efficiency for the group, among other relevant updates. Please note that today's presentation may include forward-looking statements that are subject to risk and uncertainties, which may cause actual results to differ materially. On page 2 of our conference call deck, you will find our full disclaimer regarding forward-looking statements. Thank you. Marcos, please go ahead. Thank you, Tomás. Good morning and thank you for joining us today. The first quarter of the year evolved with good overall dynamics in our core businesses and solid performance across all the subsidiaries. Well within the guidance ranges that we announced at the beginning of the video. Despite a more cautious business environment brought by the electoral periods in Mexico and the U.S., we see a good economic momentum driven by domestic d...