Overview
- Mexican financial and competition regulators cleared the transaction, allowing immediate changes in Banamex’s board leadership.
- The deal covers about 520 million ordinary shares at 0.80 times book value, implying roughly 42 billion pesos, or about US$2.3 billion.
- Manuel Romo remains CEO of Grupo Financiero Banamex and Ignacio Deschamps continues as chair of Banco Nacional de México, ensuring executive continuity.
- Jane Fraser said the closing advances Citi’s multi‑year plan to exit Mexican consumer banking while strengthening its institutional business in the country.
- Fernando Chico Pardo described the stake as a family-led, long‑term investment with an emphasis on digitalization and operational transformation.