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Citigroup Insight: Mexican Unit To Be Sold In 2024

Citigroup is planning to separate its Mexican retail unit, Banamex, from its parent company by the second half of 2024, according to Manuel Romo, Citigroup’s head in Mexico.

A Citibank sign is reflected in a window in the City of London November 12, 2014.  Photo: Getty Images
A Citibank sign is reflected in a window in the City of London November 12, 2014. Photo: Getty Images

Romo also mentioned that Banamex will initiate its process of going public in 2025.

This decision comes after Citigroup’s surprising move earlier this year to cancel the $7 billion sale of Banamex, which caught investors off guard.

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