Citi intensifies Banamex separation, courts European buyers for Mexican retail unit

Citigroup CEO confirms accelerated efforts to finalize the separation of Banamex, its Mexican retail banking arm, and is actively seeking additional buyers, with European banks expressing interest. The divestiture, part of Citi's broader strategic exit from consumer banking in Mexico, remains incomplete with valuation and regulatory approval still uncertain. This signals continued M&A activity in the Mexican banking sector and potential shifts in foreign bank participation.