“Citi is going to focus on those businesses where it has proven to be highly competitive on scales equal to other geographies,” added Gómez Alcalá.
What about Banamex?
In 2001, Citigroup bought Banco Nacional de México (Banamex) and in October 2016 the creation of a brand called Citibanamex was announced, which was the merger of the names of the companies.
Now, this name or brand is for sale as well as the entire savings account business, payroll loans, personal loans, mortgages, cars and SMEs. The insurance business and Afores are also for sale as well as all the cultural heritage and historical heritage that the bank has.
The bank stressed that it seeks to sell everything in a single operation.
Will this affect Banamex clients?
No. The bank’s clients will continue to receive attention, both new clients and those who already have a bank account, credit, insurance or their Afore account.
For people who have a savings account or who deposit their payroll, nothing will happen, they can continue using their account.
Do you have a credit with the bank? You must continue to pay your monthly payments on time or the interest will increase.
If you have insurance or your Afore is with them, you should be calm because until it is revealed who bought the bank, possible changes may be announced.
What will happen to the Banamex workers?
Citibanamex said that there will be no impact on the bank’s employees. “The instruction is very clear: we are making an announcement, the bank’s daily operation continues,” added the manager.
The bank said that the sale of the bank will take months, in compliance with the regulations of the authorities, and that for now, all employees will remain in their positions.
And the debts?
For clients who have a debt with the bank, they must pay their credits on time or interest will accrue. Payments can be made through the usual channels such as the app, correspondents and branches.