Citi set to split Mexico retail bank from corporate, investment unit by late 2024
Business
Citi set to split Mexico retail bank from corporate, investment unit by late 2024
MEXICO CITY (Reuters) - Citigroup (C.N) will split its Mexico retail unit, known as Banamex, from its corporate and investment banking business in the country by the second half of 2024, the lender's Mexico head Manuel Romo said on Thursday.
The retail unit should then begin the process of going public in 2025, Romo said. The offering could take place in Mexico or another country, he added.
