Grupo Financiero Banorte, S.A.B. de C.V. (BMV:GFNORTE O) is looking at whether to make an offer for Citigroup Inc.'s (NYSE:C) Mexican Consumer Banking Unit, its Chief Executive said on January 20, 2022. We are starting an analysis of this opportunity, and if we find that a possible transaction adds value to shareholders, we would submit it for their consideration, Banorte Chief Executive Marcos Ramirez told a news conference. Citigroup last week said it would sell its Citibanamex consumer banking operations, ending a two decade retail presence in Mexico and prompting Mexican President Andres Manuel Lopez Obrador to call for domestic investors to snap up the assets and Mexicanize the bank.
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