Overview
- Citi has divested 49% of Banamex, including 25% to Fernando Chico Pardo and a further 24% agreed with a consortium of institutional and strategic investors.
- The latest 24% block is split among General Atlantic, Afore SURA, BTG Pactual, Chubb, and funds managed by Blackstone, Liberty Strategic Capital, and Qatar Investment Authority, with individual stakes of up to 4.9%.
- Closing of the 24% sale remains subject to authorizations from Mexico’s antitrust authority (CNA).
- Management is rebuilding lines shed in the split from Citi, relaunching corporate and investment banking, accelerating digital upgrades with external advisers, and expanding lending across client segments.
- An initial public offering could be considered in 2027 depending on market conditions, with required legal and regulatory steps targeted for completion by late 2026.