Grupo Fin Banorte Ord (GBOOF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. This is Tomás Lozano, Head of Investor Relations, Corporate Development, Financial Planning, and ESG. Welcome to Grupo Financieros Van Orter Four Quarter Earnings Poll. Our CEO, Marco Ramirez, will begin today's call by presenting the main results of the quarter and the year. He will comment on our capital allocation as well as our macro expectations for the year. Then Rafael Arana, our COO, will go over the financial highlights of the group, providing details on the margin evolution and rate sensitivity, asset quality, as well as expenses for the quarter. He will conclude presenting our 2025 guidance. 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 two 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, everyone. I wish you all the best in this new year. And thank you, as always, for joining us today. We are pleased to share with you the results achieved both in the quarter and throughout 2024, delivering on our commitments to the market a year ago, despite the challenging second half of the year with clear signs of economic slowdown and increasing uncertainties regarding the transition period of the new government of Mexico and the presidential elections in the U.S. On the macro front, GDP growth in 2024 is expected to reach 1.6%. Domestic demand remains resilient throughout the year, driven by a strong labor market, with increasing wages and improving working conditions, a solid stream of remittances reaching historical maximums, and a dynamic investment activity. Altogether, this led to a stro...