Citi and Fernando Chico Pardo Agree on 25% Banamex Stake Purchase
Citi announced that Fernando Chico Pardo and his family will purchase a 25% stake in Banamex for approximately USD 2.3 billion, marking a key step in Citi's plan to divest from Banamex and focus on its core businesses. Pardo will be appointed Chair of Banamex, signaling a strategic partnership aimed at strengthening the bank's future growth and stability in Mexico.