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Banorte’s chief operating officer Rafael Arana says that he believes most of the large retail banks in Mexico – including Banorte – are well positioned to weather the economic crisis caused by the coronavirus, with “solid capital ratios, good liquidity and relatively healthy asset quality.”
However, he warns that banks outside this top tier face a sterner test. “Smaller financial institutions, which are more exposed to SMEs and individuals, and more dependent on wholesale funding may have a bigger challenge as the pandemic worsens,” he says.
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