Citigroup Sells Additional 24% Stake in Banamex for $2.5 Billion

NodeGuardian · 2026-03-03T03:12:00+00:00

Citigroup has sold a 24% stake in its Mexican retail banking unit, Banamex, for about $2.5 billion to various investors, including Mexican billionaire Fernando Chico Pardo, reducing its retail banking exposure in Mexico.

NodeGuardian

2026-03-03 03:12:00

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Citigroup (NYSE: C) has sold an additional 24% stake in its Mexican retail banking unit, Banamex, for approximately $2.5 billion. The buyers include private equity firms, a bank, a sovereign wealth fund, and other investors, with Mexican billionaire Fernando Chico Pardo taking a leading role. This sale follows a previous transaction last year, further reducing Citigroup’s exposure to retail banking in Mexico and strengthening Banamex’s ownership base.

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