Banamex: When does the bank’s sale process begin?
The global director of Citigroup, Jane Fraser reported that the Banamex sale process will begin in the spring and it is expected to be a transaction without major complications.
“It will be a simple transaction, we have worked in recent years to see how to obtain the best results. The separation process will begin immediately. We hope that the sale process in springFraser assured.
Without giving further details about the amount they seek to obtain for their business in Mexico, Fraser stressed that our country remains a receiving market for global investments, with which Citi will reinforce its strategy to focus on institutional banking.
“Our expectation is that Mexico will be a major recipient of global investment and trade flows in the coming years. We will significantly maintain the bank’s local license and invest to obtain higher returns for our institution,” he said.
Last Tuesday, January 11, the United States financial group Citigroup announced that it will close its retail and small business banking operations in Mexico, which includes the Citibanamex brand.