Citigroup to Sell 25% Stake in Banamex Amid Organizational Overhaul

Key Takeaways Citigroup agreed to sell a 25% stake in Banamex to Fernando Chico Pardo and his family.The sale supports Citigroup's exit from consumer banking in Mexico while focusing on institutional growth.Completion of the deal is expected in the second half of 2026, subject to regulatory approvals in Mexico.Citigroup Inc. (C) has taken a decisive step in its global restructuring efforts, announcing an agreement with a company wholly owned by Mexican business leader Fernando Chico Pardo and his family to ...