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Citi begins discussions with potential buyers of Banamex

“It’s a complex separation and it will take time. We are in early discussions with buyers and with our partners; like any transaction of this size and complexity, it will take time,” he told the bank’s US quarterly earnings call.

Mason stressed that Mexico now has greater appeal taking into account the geopolitical factors that are developing abroad, referring to the conflict between Russia and Ukraine.

Citigroup did not provide further information regarding a data room which, according to the general director of Citibanamex, Manuel Romo, would be opened in March to potential buyers of the retail business.

The manager added that they will continue to carry out a transparent process on the issue of obtaining a license for Citi to operate in Mexico. “I don’t have any particular information to share on this point,” he said.

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