Overview
- CEO Jane Fraser said Citi is actively considering selling smaller minority stakes in Banamex to other investors as a step toward a listing in Mexico and the United States.
- CFO Mark Mason declined to provide a timetable and would not commit to a 2026 stock market debut for Banamex.
- Citi closed the sale of 25% of Banamex to Mexican investor Fernando Chico Pardo on December 15, a process executives described as record-speed with public and private backing from President Claudia Sheinbaum’s government.
- An earlier bid by Grupo México to acquire 100% of Banamex was rejected by Citi, which cited financial terms and deal certainty.
- As part of its global streamlining, Citi intends to retain corporate and brokerage operations in Mexico while shrinking its retail footprint.