- Banamex Digital Banking: It Will Invest in Technology to Improve User Experience, Attract the Young Segment, and Strengthen Its Regional Presence After Separating from Citi.
- Operational Continuity: With 1,300 branches, more than 9,100 ATMs, and platforms like Citibanamex Mobile, the bank ensures stable services while moving towards its independent vision.
On December 1, a milestone was marked in Mexico’s financial history with the official separation between Citigroup and Banamex.
Now, Grupo Financiero Banamex positions itself as an independent entity, with a clear focus on transformation and digital banking, without neglecting its physical business, as it has more than 20 million customers and a robust infrastructure that includes nearly 1,300 branches, 100 Retirement Service Centers (CAREs), and more than 9,100 ATMs.
Additionally, digital platforms such as Citibanamex Mobile, Afore Móvil Citibanamex, and BancaNet will continue to operate as usual, ensuring the continuity of services.
Manuel Romo, CEO of Grupo Financiero Banamex, emphasized that the independence will allow the bank to accelerate its digital agenda, focus on the young segment, and strengthen its presence in the country’s regions.
“We are proud of our legacy and excited about the future,” Romo stated.
In this new phase, Banamex digital banking will be a strategic pillar for the institution. The bank will invest in technology to improve the user experience, optimize processes, and offer more agile and personalized services.
The goal is to strengthen operations from start to finish, leveraging digital tools to attract new generations and enhance its relationship with current customers.
“We will focus our resources and investments on accelerating our digital agenda, strengthening our operations from start to finish, dynamically attracting the young segment, deepening our penetration in the regions, and boosting entrepreneurship across the country,” Romo affirmed.
Moreover, the potential Initial Public Offering (IPO) of Grupo Financiero Banamex will create investment opportunities, subject to market conditions and regulatory approvals.
Banamex is currently the third most-used bank in Mexico, with a 10% market share.
34% of its users belong to Generation X, and 35% of its users believe they could manage their finances entirely digitally.
It is a long-standing institution, with 140 years of history, and prides itself on having launched the first credit card in Latin America.
Citi and its continuity in Mexico
Although Citi has divested from Banamex, it will maintain a strong presence in the country through Grupo Financiero Citi México, which will focus exclusively on institutional clients.
Under the leadership of Álvaro Jaramillo, Citi will offer specialized financial services through its Banking, Markets, Services, and Citi Private Bank divisions.
Jane Fraser, Global CEO of Citi, described the separation as an “important milestone” to simplify its operations and focus on its core strengths. This decision also responds to the bank’s global strategy to maximize shareholder value.
