Citigroup accelerates divestment of Banamex shares

As part of the planned sale of its Mexican subsidiary, Citigroup is taking a significant step forward by selling a substantial stake in Grupo Financiero Banamex. The buyer, a company owned by the well-known entrepreneur Fernando Chico Pardo and his immediate family members, will soon acquire a 25 percent stake. The transaction not only demonstrates confidence in Banamex's future potential but also Citigroup's strategic focus on its core businesses. The sale provides Citigroup with a welcome capital boost, generating proceeds of approximately 42 billion Mexican pesos, equivalent to about 2.3 billion US dollars. This step is part of a broader strategy for restructuring and focusing on more profitable business areas. The deal is expected to be finalized in the second half of 2026. Investors and market analysts are keenly observing the further developments and potential impacts on the Mexican financial landscape. The sale could pave the way for future partnerships and expansions while further solidifying the influence of Fernando Chico Pardo and his family in the Mexican banking sector.