All this, combined with the acquisition of Banpais by Banorte in 1997, has led to a more consolidated, not to say rejuvenated, banking industry.

ECONOMIST: Mexican banks

Grupo Financiero Banorte, a regional bank based in Monterrey, remains local.

FORBES: The Investment Samba

Guillermo Ortiz, a former Mexican finance minister who is now chairman of Banorte, a Mexican lender, wants subsidiaries of foreign banks in emerging markets to be ring-fenced so that money cannot be funnelled out of the country.

ECONOMIST: Reshaping banking