Citi completes split of Mexico business ahead of Banamex IPO

Published on: Monday 02 December 2024

The move to split Grupo Financiero Citi México from Grupo Financiero Banamex is part of Citi's sweeping overhaul under CEO Jane Fraser aimed at simplifying its sprawling structure as it looks to improve the bank's performance. The New York-based bank is continuing to work on the proposed initial public offering of Banamex, the timing of which will depend on regulatory approvals and market conditions, Citi said.

News source: https://finance.yahoo.com/news/citi-completes-split-mexico-business-155517276.html

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Citi completes split of Mexico business ahead of Banamex IPO