In a few days, Banamex’s conditions will be different, after the separation of Citigroup is achieved. But what will happen to your accounts?
After two decades of the creation of Citibanamex and providing its services together, In 2022 Citigroup announced the end of its functions in the consumer banking business in Mexico together with Banamex.
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The date of this separation will be carried out on December 2 and it is planned to divide Citibanamex into two independent entities. So a few days before this transition ends; Thousands of users continue to have doubts about what will happen to their cards and bank accounts, as well as credits.
According to Banamex, the banking institution will continue to operate regularly, as well as the bank accounts of its thousands of users in the country and will continue with its 139 years of experience in Mexico without any changes.. While Citi Mexico will continue strengthening itself as a global bank with a presence in 95 countries, focused exclusively to corporate and institutional banking.
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As mentioned above, The reason for the separation of the financial group was to strengthen both institutions in different markets and attend in detail to the specific needs of each sector..
Likewise, while the Banamex company will be focused on consumer banking, meeting the needs of its users and strengthening its position as one of the leading banks in the country; Citi México will prioritize serving institutional clients, as well as corporate operations.
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The sale of Banamex through the stock market is estimated for 2025while Citi began the process of separating its retail business in Mexico in May.
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