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Citi Sells Banamex Stake to Mexican Magnate for $2.3 Billion

Bloomberg•Wednesday, September 24, 2025 at 8:37:11 PM
PositiveFinancial Markets
Citi Sells Banamex Stake to Mexican Magnate for $2.3 Billion
Citigroup has made a significant move by selling a 25% stake in its Mexican retail banking unit, Banamex, to local businessman Fernando Chico Pardo for $2.3 billion. This sale is part of Citigroup's strategy to eventually list Banamex publicly, which could enhance its market presence and provide more opportunities for growth. This deal not only reflects confidence in the Mexican banking sector but also highlights the increasing interest from local investors in major financial assets.
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