“The investment made by Chico Pardo shows confidence in the future of Banamex, and in the development of its current strategy of continuing to grow in all business lines,” Citi highlighted in a statement.
The businessman said since last September, when it was announced that he would be the majority shareholder, that he was seeking to relaunch the bank with a strategy focused on digitalization.
Manuel Romo will remain as CEO of the bank like the rest of the management team and Citi’s divestment plan remains in place.
“Any decisions related to the timing and structure of Banamex’s proposed initial public offering will continue to be guided by several factors, including market conditions and regulatory authorizations,” the bank noted.
Last week, Manuel Romo, general director, said that the bank is committed to being the “bank of innovation”, so in 2026 it will focus its investments and efforts on strengthening consumer banking through digital channels.
