Home News Javier Garza confirms interest in buying Banamex

Javier Garza confirms interest in buying Banamex

Javier Garza confirms interest in buying Banamex

“I perceive a great opportunity to rescue its historical, cultural and financial assets so that they return to the hands of Mexican businessmen,” Garza said in a statement shared with Reuters.

President Andrés Manuel López Obrador on Thursday named Garza as a possible bidder after Citigroup said this week it would sell its consumer banking operations in the country, Banamex, ending a two-decade retail presence in Mexico.

After the local subsidiaries of BBVA and Santander, Banamex is the third largest bank in Mexico.

López Obrador has urged local investors to keep the bank in Mexican hands.

E4T is a business association that supports López Obrador’s so-called Fourth Transformation (4T) and seeks to eradicate corruption and inequality, according to the group’s website.

Mexican tycoon Ricardo Salinas; billionaire Carlos Slim, of the Inbursa Financial Group; and Carlos Hank González, president of the board of directors of Banorte Financial Group , could also be interested in the sale, López Obrador said.