Mexico's Banorte reports higher 3rd-qtr profit


MEXICO CITY, Oct 24 (Reuters) - Mexico's fourth-largest bankby assets, Grupo Financiero Banorte, on Thursday said itsthird-quarter profit rose 27 percent, as it underwrote moreloans and increased assets under management.

The bank's quarterly profit rose to 3.526billion pesos ($268 million) from 2.78 billion pesos reported inthe same period a year earlier.

Banorte's total loan book grew 6 percent from a year earlierto 414 billion pesos as it made more home, commercial and paydayloans.

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