As part of the sale of the Mexican bank by the American consortium, Banamex will retain 22 million clients while Citi will have 2 thousand clients in a smooth transition. The separation of the two institutions is set to take place without affecting clients, as emphasized by Manuel Romo, the general director of Citibanamex. In an interview ahead of the 87th Banking Convention taking place in Acapulco, Guerrero, Romo stated that the decision to divest from Banamex has not yet been made and it is still unclear whether the initial public offering will take place in Mexico or the United States stock market.
When asked about Claudia Sheinbaum’s decision not to attend a meeting with Citibanamex, Romo stated that it did not affect their relationship. He mentioned that they are looking to turn the page and engage in dialogue with her. In terms of economic outlook, Romo highlighted that there are opportunities for growth in Mexico’s economy but also pointed out structural issues that could lead to lower growth in 2024. He expressed optimism about stability and future growth potential for Mexico and emphasized on nearshoring opportunities for Mexico.
Romo also spoke about Citibanamex’s focus on ensuring a seamless transition for clients without any changes to terms, conditions, benefits or offers during this period of transition. He stated that there will be no changes in services provided to customers during this time. Looking ahead to the challenges facing the next administration, Romo emphasized addressing Mexico’s needs and expressed willingness to support and collaborate with whoever leads the new government. He also mentioned ongoing discussions with Claudia Sheinbaum to create a space for dialogue with Citibanamex’s counselors. The goal is to establish a relationship for mutual benefit and address Mexico’s needs together with political leaders.
In conclusion, Romo believes that despite challenges such as inflation and recession, there are opportunities for growth in Mexico’s economy due to its strengths built over generations rather than relying solely on a single administration’s efforts. He remains optimistic about stability and future growth potential for Mexico despite structural issues which may lead to lower growth in 2024.
