Citigroup seeks to exit some Citibanamex operations in Mexico

Citigroup seeks to exit some Citibanamex operations in Mexico

In addition, the largest financial services company in the world based in New York, assured that it will continue to operate its banking business with a local license in Mexico, the second largest economy in Latin America, through a group of global institutional clients.

Citi CEO Jane Fraser said: “The decision to exit the consumer banking, small and medium-sized businesses in Mexico is fully aligned with the principles of our strategy update: we will be able to direct our resources to aligned opportunities. With our core strengths and competitive advantages, focus on the businesses that benefit from connectivity to our global network and we will further simplify our bank. ”

Citi informed that “additional information on the businesses from which Citi anticipates exiting in Mexico will be included in the earnings report for the fourth quarter of 2021 that will be published on January 14, 2022.”

With information from Reuters.



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