This is the Banamex historical archive that Citigroup puts up for sale

The Historical Archive of the National Bank of Mexico, which was founded in 1991, contains photographs, old documents and even the first ATM the country had.

Citigroup announced on January 11, 2022 that it would put its retail business in Mexico up for sale, as well as cultural heritage, which includes historic sites.

Read more: The separation of Citi and Banamex has already begun

To understand the amount and value of the history of this bank, you have to know that it was not always the National Bank of Mexico (Banamex).

The origins date back to the beginning of 1880, when the government created by concession the Mexican National Bank and four years later he merged it with the Mexican Mercantile Bankwhich at that time operated thanks to Spanish investments. The union of both companies gave birth to Banamex.

What is the Citibanamex vault like?

The vault has changed locations over the years. It is currently on the second floor of the Valparaíso Palace, where the bank’s entire photographic, numismatic and documentary archive is housed.

In Porfirian times the vault was used to protect clients’ valuable objects. The doors were made of steel and each one of them weighs half a ton. The company responsible for the manufacturing was Panzer, famous in the Second World War for the manufacture of war tanks, explained Fernando Corona Torres.

Inside the enclosure, which has to maintain a specific temperature and humidity to preserve the documents, there are emblematic photographs such as the celebration of the first meeting of the Board of Directors or the archive where the directory of the first general director of the bank is kept.

Numismatic collection

Fernando Corona Torres explained that the collection of bills and coins exceeds 2,200 pieces. You can see the first bill, which was a revolution among people because they were used to heavy silver or copper coins.

There are also the bills of each state of the Republic or those that mining companies gave to their workers to pay them for their work days.

The coordinator of the Citibanamex Historical Archive commented that the appraisal of this collection is done every three or five years to consider how much the value of the pieces has changed.

You can also see the first shares issued by the bank.

The first ATM

Towards the end of the 60s, the first credit cards began to be distributed. At first, they were only granted to businessmen and as the years went by they were also given to individuals.

As at first they were only given to clients with a high income, the bank began to distribute the first ATMs.

The first was installed in Plaza Satélite in May 1972, just one year after that shopping center was inaugurated.

Fernando Corona commented that this ATM was connected to the bank’s interest in reaching the upper class of the area. The arrival of the ATM revolutionized the way customer service was provided since for the first time a service that operated 24 hours a day could be offered.

How can I visit the venue?

The archive housed in the Valparaíso Palace attracts more than 200 visitors per year, including students from abroad.

It can be consulted by researchers, students and the general public. Guided tours are offered for free from Monday to Friday from 10:00 a.m. to 7:00 p.m.

To access the place, you must present official identification that accredits you as a researcher or student or the INE. To carry out research, it is necessary to send a letter about the objective of the research by email to [email protected].