STRATEGIC AGREEMENT BETWEEN IBM AND GRUPO FINANCIERO BANORTE
Mar 11, 2013
OTC Disclosure News Service
Monterrey, N.L., March 11th, 2013. Grupo Financiero Banorte, S.A.B. de C.V. (“GFNORTE”) (BMV: GFNORTEO) and IBM (NYSE:IBM), today announced the formalization of a 10-year strategic agreement that will allow the Mexican financial institution to create a new customer-centric banking model, while substantially improving its efficiency to achieve levels close to 40% and return on equity above 20%.
The agreement – based on the solid growth of GFNORTE – seeks to create an expandable and sustainable platform to achieve world class efficiencies as well as high levels of customer service and segmentation, retention and contact with clients, through the existing channels and others to be developed. Additionally, this agreement establishes an unprecedented transformational relationship in the Latin America banking industry.
The partnership considers the establishment of a very solid Corporate Governance in which both groups participate, and depending on the progress achieved of the partnership itself, as well as the benefits generated, will drive the investment in new projects.
As a result of these efforts, Banorte – Ixe (Banco Mercantil del Norte, S.A. and Ixe Banco, S.A.) seeks to become the bank with the best customer service and experience not only in Mexico, but also around the world, leading its sector and setting an example of innovation through smarter use of advanced technologies.
Banorte – Ixe’s goal is to deeply understand their clients’ needs and offer a superior customer service to its more than 20 million users through business analytics solutions. Most importantly, to develop and offer personalized products and services better suited for each customer’s unique condition.
Banorte – Ixe will experience an outstanding transformation in its operations and services innovation in the mid-term. Transformational services will primarily focus on client interactions, getting a better knowledge of their needs and the adoption of better risk processes and technology. At the same time, operational services will be focused on improved processes, applications and technology adoption.
GFNORTE reiterates to the investment public that it will continue adopting the best international corporate practices regarding Corporate Governance and information disclosure. Through its top management, the Financial Group will maintain its strategic and expansion plans to consolidate a leading institution in Mexico. The Investor Relations Department is available for any inquiry or comment regarding this material event at: or in the number (55) 220.127.116.11.
This release includes additional documents. Select the link(s) below to view.
Material Event 11 marzo 2013.pdf
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