Citi completes split of Mexico business

Citi completes split of Mexico business ahead of Banamex IPO
Citigroup has completed the separation of Banamex from its institutional banking business in Mexico as it prepares to list the retail bank, the Wall Street giant said on Monday.The move to split Grupo Financiero Citi México from Grupo Financiero Banamex is part of Citi's sweeping overhaul under CEO Jane Fraser aimed at simplifying its sprawling structure as it looks to improve the bank's performance.
Citigroup completes separation of Banamex ahead of IPO
Citigroup has completed the separation of its Mexican subsidiary Banamex from its institutional banking business in Mexico, the major US-based bank said on Monday. With this separation, Citigroup will now operate two separate financial groups in Mexico: Grupo Financiero Citi México and Grupo Financiero Banamex.
Citi Splits Mexico Business With 93% of Staff Headed for IPO
Plans are advancing for an initial public offering of Citigroup Inc.’s Banamex business in Mexico after the bank finished separating out the division from its broader institutional offerings in the country.
Citi Completes Banamex Split, Paving the Way for a 2025 IPO Across Mexico and Wall Street
Citigroup has officially separated Banamex from its institutional banking arm, accelerating plans for a 2025 dual IPO. With listings in Mexico City and New York under consideration, this move reflects Citis ongoing push
Citi completes split of Mexico business; NatWest may return to full private ownership in 2025
Citi in May last year abandoned a $7bn sale of Banamex to Grupo México, opting for an IPO after negotiations stalled. Banamex, which serves 20mn clients via 1,300 branches, is expected to list by 2025.
Citi Successfully Completes Separation of Consumer, Small, and Middle Market Businesses from Institutional Business in Mexico
Citi today announced the successful separation of its institutional banking business in Mexico from its consumer, small, and middle market businesses. With this separation complete, effective December 1,
Citi separates from Banamex, this is what will happen with ATMs
Citi will continue to offer its financial products and services through Citi Private Bank. The banking company will operate in Mexico through Banco Citi México and Citi México Casa de Bolsa. Finally, it was announced that CitiBanamex credit and debit accounts will become part of Banamex alone.
Citigroup Completes Separation Of Banamex
Monday said it has completed the separation of Banamex from its institutional banking business in Mexico. With
Citigroup Nears Banamex Spin-Off Amid Organizational Overhaul
Citigroup, Inc. C is nearing spinning off its consumer, small business and middle-market banking operations in Mexico — Banco Nacional de México (“Banamex”). The news was reported by the Wall Street Journal.
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Citibanamex separation now complete, says Citigroup
Citigroup announced Monday that it has completed the separation of Banamex, one of Mexico's oldest retail banks, from Citi ...
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Citi separates Mexico operations into two separate financial groups
Grupo Financiero Citi Mexico caters to institutional clients, while Grupo Financiero Banamex focuses on consumer, small, and ...
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O’Boyle to cover Mexican finance for Bloomberg
Sally Bakewell, U.S. finance team leader at Bloomberg News, sent out the following on Wednesday: Hi all, We’re delighted to announce that Michael O’Boyle will be joining our team as Mexican finance ...
A Simpler Citigroup Begins to Take Shape
Citigroup is nearing an important milestone in efforts to spin off its Mexican consumer bank, an important part of chief ...