Citi to exit Mexican consumer banking business in strategy revamp

📆 1/11/2022 6:55 PM
📰 Reuters

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Citigroup Inc said on Tuesday that it will exit its Citibanamex consumer banking business in Mexico, ending a two-decade-long retail effort that was the last of its consumer banking ventures outside the United States.

A Citibank sign is seen outside of a bank outlet in New York March 4, 2009. REUTERS/Lucas Jackson/File Photosaid on Tuesday that it will exit its Citibanamex consumer banking business in Mexico, ending a two-decade-long retail effort that was the last of its consumer banking ventures outside the United States.

Before becoming CEO, Fraser was responsible for the Mexico business and for Citigroup's global consumer bank. In that role she worked to build on investments the bank made to refurbish the Mexico consumer business which had been known as Banamex.

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