Overview
- Banorte said the transaction was fully closed in a filing to the Mexican stock exchange following authorization from the Comisión Nacional Antimonopolio.
- The bank paid about $50 million to acquire the remaining roughly 44% of Tarjetas del Futuro, taking ownership to 100%.
- Integration of RappiCard brings approximately 1.14 million cardholders into Banorte’s portfolio.
- The deal includes a strategic commercialization agreement with Tecnologías Rappi to distribute financial products inside the Rappi superapp.
- The closing comes days after Banorte sold its Bineo digital unit to Clearscope Holdings (Klar) as it pivots from a standalone neobank to scale-driven partnerships.