Reclassification of Charge-Offs and Discounts
Oct 23, 2015
OTC Disclosure News Service
Grupo Financiero Banorte S.A.B. de C.V. (“GFNORTE) (BMV: GFNORTEO) informs to the investment public of the retrospective modifications on the balances of the Commercial and Consumer loans‘ Charge-Offs and Discounts, comprising Loan Loss Reserves. These modifications affect balances from 2014 to June 2015.
This change is the result of a classification error between the Commercial and Consumer (excluding mortgage) loan books. It is important to emphasize that this reclassification modifies only the aforementioned lines, as it has a compensatory effect and does not affect the final balance of Loan Loss Reserves.
Modified information is shown below: See table in PDF.
GFNORTE reiterates to the investment public that it expects to continue adopting the best international corporate practices regarding Corporate Governance and information disclosure. The Investor Relations and Financial Intelligence Department is available for any inquiry or comment regarding this material event at: firstname.lastname@example.org at the number (55) 1670-2256.
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