Afore XXI Banorte Posts MX$1.68 billion 1H26 Profit on AI Growth

Afore XXI Banorte registered MX$1.685 billion (US$97.221 million) in net profits during 1H6, leading Mexico's pension fund sector through operational cost efficiency and artificial intelligence integration. The performance highlights how digital automation, portfolio optimization, and strict expense controls enable financial institutions to navigate global market volatility. These results underscore the growing reliance of Mexico's retirement savings system on technology and data intelligence to secure yields for over 7 million account holders.

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Afore XXI Banorte generated net profits of MX$1.685 billion (US$97.221 million) during 1H26, positioning the pension fund manager at the top of Mexico’s retirement savings industry in overall earnings. According to financial performance data from the National Commission for the Retirement Savings System (Consar), the administrator secured the highest net earnings among competing funds by combining strict operational cost controls with the expanded deployment of AI technology across its client service and investment management operations.

According to David Razú Aznar, general director of Afore XXI Banorte, the institution's first-half earnings resulted from an operational strategy combining higher investment returns, enhanced customer service channels, and disciplined expenditure management relative to industry competitors. This cost-efficiency model allowed the administrator to generate positive financial results for its joint institutional shareholders, Grupo Financiero Banorte and the Mexican Social Security Institute (IMSS).

Razú added that the financial performance reflects an institutional effort to balance service delivery with long-term portfolio yields for more than 7 million individual account holders. Afore XXI Banorte currently manages MX$1.3 trillion (US$75.012 billion) in worker retirement assets, maintaining its status as the largest pension fund manager in Mexico by total assets under management.

The broader Retirement Savings System (SAR) faced elevated financial market volatility during the first six months of 2026, driven primarily by geopolitical conflicts in the Middle East affecting international energy distribution and political developments in the United States. Despite these global financial headwinds, Mexican pension fund managers generated MX$484.07 billion (US$27.931 billion) in cumulative capital gains (plusvalías) for workers during the first half of the year. However, total capital gains fell short of the MX$534.18 billion (US$30.821 billion) registered during 1H25.

"Naturally, with a delicate conflict underway that impacts energy distribution, significant volatility has been generated," Razú noted regarding international market pressures. "This year, although there has been a lot of volatility and we must remain attentive, we have been able to progress with quite good results and strong yields."

AI Integration

Looking towards 2H26, Razú emphasized the importance of continued AI integration for the entire SAR sector. "Artificial intelligence is a tool that is here to stay, and we must all stay highly updated on the subject," said David Razú Aznar, general director of Afore XXI Banorte. "We want to improve service, get closer to the client, and offer alternatives that go beyond retirement topics. We want to work heavily with data intelligence to be more useful to our clients and, of course, deliver the best possible returns and pensions."

The fund initiated its formal artificial intelligence evaluation process in 2022, aligning with global corporate adoption trends. The fund established a specialized internal data unit tasked with monitoring emerging software products and implementing automated tools across operational divisions.

In addition to deploying conversational chatbots for client inquiries, the institution utilizes artificial intelligence algorithms to optimize asset allocation strategies within its investment portfolios, evaluate service delivery benchmarks, and improve operational efficiency across its network of physical service branches.

2025 Sustainability Results

Parallel to its AI integration, Afore XXI Banorte reinforced its long-term fiduciary oversight with the release of its 2025 Climate Risks and Opportunities Report in April 2026. Prepared under Task Force on Climate-related Financial Disclosures (TCFD) guidelines, the report outlines the fund's integration of environmental risk management across its asset base. During 2025, the institution secured validation from the Science Based Targets initiative (SBTi) for its decarbonization targets, making it one of the first pension funds globally to adopt science-aligned commitments, while scheduling third-party audits of its financed emissions data starting in 2026.

Under its climate governance framework, the administrator allocates MX$180 billion (US$10.385 billion) in assets to emission reduction targets, including MX$120 billion (US$6.924 billion) tied directly to science-based goals. The fund targets a 42% reduction in Scopes 1 and 2 operational greenhouse gas emissions by 2030 relative to a 2023 baseline, while aiming to lower the Implied Temperature Rise (ITR) of its equity and corporate debt portfolio from 2.34°C to 1.99°C. 

Performance metrics for 2025 indicate a 15% reduction in financed emissions compared to 2023, alongside a 41% decline in Weighted Average Carbon Intensity (WACI). Furthermore, allocation to thematic bonds reached MX$67 billion, representing a 26% increase from 2024, distributed across sustainable (49%), social (26%), and green (13%) debt instruments.

To evaluate climate vulnerability, Afore XXI Banorte applies the Mexican Sustainable Taxonomy alongside geospatial modeling. Within its investment portfolio, water stress impacts 71% of assets under high-emission scenarios, projected to reach 74% by 2040. 

To mitigate these risks, executive variable remuneration is linked to three ESG-related performance indicators, supported by 1,935 technical training hours across the organization. "Climate change is not only an environmental and social challenge, but a systemic financial risk that can impact the profitability and well-being of millions of workers," Razú stated in the report.