Mexico City, Mexico — Following Citigroup’s announcement of its exit from consumer and business banking in Mexico, the bank clarified that its offices, branches and all its channels will continue to serve its customers in the same way.
There will be no changes in operation in products or services, Citibanamex reported in a statement. The bank clarified that the offices, branches and all its channels will continue to serve its customers in the same way, saying that the bank has been operating in the country for 137 years and will continue to do so.
On January 11, Citigroup announced that it would exit consumer and business banking in Mexico. This includes the sale of its brand and license, as well as its portfolios.
In a statement, the financial services company said that the exit announced is in line with the repositioning of its consumer operations to focus on “Global Wealth” centers.
The executive director of Citi, Jane Fraser, revealed that it will be in the spring when the process of sale of Banamex by American Citigroup begins.
President Andrés Manuel López Obrador has said that the sale is an opportunity for the bank to return to Mexican hands. The president proposed to “Mexicanize” the sale of Citibanamex. Since the bank’s announcement, other Mexican financial institutions and large-scale business owners have expressed interest in the possibility of acquiring the bank.