Chase Manhattan Bank has sold its Mexican credit card portfolio to Grupo Financiero Banorte, Mexico's fifth-largest bank. No price has been disclosed, and Chase officials were not available for comment.

Chase, which entered the Mexican credit card market last April, has opted to focus exclusively on corporate and investment banking in Mexico, Banorte said. Chase began issuing secured credit cards in Monterrey last year as part of a bid to expand its credit card operations outside the United States.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.