Banorte rejects the CNA's sanction; analyzes means of defense.
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Banorte rejects the CNA's sanction; analyzes means of defense. Listen to this note 0:00/ 2:20 May 25, 2026 18:22 Banorte rejected the sanction imposed by the National Antimonopoly Commission (CNA) for more than 19 million pesos, for allegedly having carried out a concentration with the company Rappi without the authorization of said authority, so it will evaluate its means of defense. "Banorte reports that it complied with the provisions of the Federal Economic Competition Law; therefore, it disagrees with the sanction and is analyzing with its advisors the terms and arguments thereof. Likewise, it evaluates the appropriate means of defense to challenge the legality and constitutionality of the sanction," reported the Financial Group. Yesterday, the CNA announced that it imposed a sanction of 19 million 900 thousand pesos on Banorte and Rappi Technologies for having concentrated without its authorization. According to said authority, on July 20 of last year, an operation was carried out in which Banorte practically acquired Rappi's credit card business without its final approval. In this regard, Banorte released a communication on the Mexican Stock Exchange (BMV) in which it stated that it totally disagreed with the sanction, since all movements were reported to the CNA itself and to the now-defunct Federal Economic Competition Commission. "Regardless of the fact...
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