Citigroup‘s director of finance, Mark Mason, assured that they already have options of possible buyers of the Banamex franchise in Mexico for whom it could be a “once in a lifetime opportunity”, and with whom they are already having conversations, but it is about a complex transaction from what you said, it will take time. “We are making progress and are in early discussions with buyers and our partners.

And as with any transaction of this size and complexity, you know, once again, it’s going to take time, ”he explained to investors during the presentation of financial results corresponding to the first quarter of this year. We recommend you: Purchase of Banamex should give investors profitability: Carlos Hank Gonzalez Mason added that they have options from a sale, to an initial public offering, for which he said that they will continue to be transparent in informing investors and clients about the progress in the sale transaction of consumer banking, Afore, infrastructure and cultural heritage in Mexico. “We have options, you know, this is for some a once-in-a-lifetime opportunity and our options range from, you know, a sale to an IPO. I, and as we have been in the past, will continue to be quite transparent about this as things progress in the coming quarters.

” He added that in the separation of licenses so that Citigroup can operate in Mexico the wholesale credit portfolios in a regulated manner before the National Banking and Securities Commission (CNBV) and Banamex as two separate banks do not have any update. He reiterated that the consumer market in Mexico remains an important and strong franchise, so the separation and transaction is complex and will take time.
On January 11, Citigroup’s executive director, Jane Fraser, announced the sale of Banamex’s consumer banking in Mexico, a bank that Citigroup has operated for 20 years, as part of a global strategy to maintain only the largest portfolios. value in all the countries in which it has a presence. Since then, several financial institutions and banks have raised their hands to acquire the portfolios, as is the case of Banorte, Santander; as well as Ricardo Salinas, owner of Banco Azteca and a group of businessmen from Monterrey.