Citi Splits Mexico Business

Citi completes split of Mexico business ahead of Banamex IPO
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.
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 separates Mexico retail ops from institutional business
The move sets up the bank to spin off Banamex in an IPO, as planned. The timing of that will depend on regulatory approval, but the bank has long targeted next year.
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 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
Citigroup Completes Separation Of Banamex
Monday said it has completed the separation of Banamex from its institutional banking business in Mexico. With
Mexico News Daily1d
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 ...
El Dictamen2d
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, ...
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 ...
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Citigroup's Mexican Arm Banamex To Go Public In 2025, Following Corporate Separation: Report
"So that by the second half of 2024, the split between Banamex and Citi Mexico is complete," he added. In May, certain anonymous sources informed Reuters that the bank was considering a dual ...
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Earlier Mexico IPO potential ‘good news’ from Citi 10-Q, says Wells Fargo
Wells Fargo notes Citi’s (C) new 10-Q was released after Thursday’s close and points out the timing of its Mexico IPO may be earlier than previously expected, calling this the “key point ...
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Citigroup Set to Spin Off Banamex Amid Major Restructuring Strategy
According to a Wall Street Journal article, Citigroup (NYSE:C) is almost spinning off Banamex, its Mexican consumer banking division, in line with CEO Jane Fraser's restructure plan. A crucial step ...