Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTCQX International Premier) | Reclassification of Charge-Offs and Discounts

Reclassification of Charge-Offs and Discounts

Oct 23, 2015

OTC Disclosure News Service

Monterrey, Mexico

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 loansCharge-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: investor@banorte.comor at the number (55) 1670-2256.

This release includes additional documents. Select the link(s) below to view.

Material Event-23oct15.pdf

Copyright © 2015 OTC Markets. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/GBOOY/news?id=117343

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