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    GFINBUR O   MXP370641013

GRUPO FINANCIERO INBURSA, S.A.B. DE C.V.

(GFINBUR O)
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End-of-day quote Mexican Stock Exchange  -  05-17
34.29 MXN   -2.50%
05/02Factbox-Citigroup's Mexican consumer banking unit lures various potential bidders
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04/27Mexico's Inbursa says still interested in Citibanamex sale
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04/26Grupo Financiero Inbursa, S.A.B. de C.V. Reports Earnings Results for the First Quarter Ended March 31, 2022
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Mexican entrepreneur Garza Calderon confirms interest in Citi asset sale

01/16/2022 | 06:38pm EDT
FILE PHOTO: The logo of Citibanamex is pictured at a bank branch in Mexico City

MEXICO CITY - Mexican entrepreneur Javier Garza Calderon aims to bid on the consumer banking arm of Citigroup in the country, pledging to return it to Mexican hands, he said in a statement Sunday.

Garza Calderon, founder of the organization "Entrepreneurs for the Fourth National Transformation (E4T)," said he was interested in inviting other business leaders to form a group of investors to analyze the possible acquisition.

"I perceive a great opportunity to rescue its historical, cultural and financial assets so that they return to the hands of Mexican businessmen," Garza Calderon said in a statement shared with Reuters.

"A team of national and international analysts and specialists will evaluate all the lines of business that Citi Banamex handles and subsequently we will make an offer," he added.

President Andres Manuel Lopez Obrador on Thursday named Garza Calderon as a potential bidder https://www.reuters.com/world/americas/mexico-president-urges-mexican-investors-bid-citi-assets-2022-01-13 after Citigroup said this week it would sell its Citibanamex consumer banking operations, ending a two decade retail presence in Mexico.

Still commonly known as Banamex, the bank Citi bought in 2001 has long been a fixture on Mexican high streets.

Lopez Obrador has urged Mexican investors to snap up the assets with the aim of "Mexicanizing" the bank.

Garza Calderon's organization E4T is a business association that supports Lopez Obrador's so-called Fourth Transformation (4T) to root out corruption and inequality, according to the group's website.

Mexican tycoon Ricardo Salinas, billionaire Carlos Slim of Grupo Financiero Inbursa and Carlos Hank Gonzalez, chairman of the board of Grupo Financiero Banorte could also be interested in the sale, Lopez Obrador said.

(Reporting by Valentine Hilaire, writing by Cassandra Garrison; editing by Diane Craft)

By Valentine Hilaire


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. -3.39% 49.32 Delayed Quote.-18.33%
GRUMA, S.A.B. DE C.V. -0.80% 253.95 End-of-day quote.-3.26%
GRUPO FINANCIERO BANORTE, S.A.B. DE C.V. -5.13% 127.02 End-of-day quote.-4.51%
GRUPO FINANCIERO INBURSA, S.A.B. DE C.V. -2.50% 34.29 End-of-day quote.39.85%
ON SEMICONDUCTOR CORPORATION -4.56% 55.83 Delayed Quote.-17.80%
TYCOON GROUP HOLDINGS LIMITED 1.60% 1.27 Delayed Quote.-6.72%
All news about GRUPO FINANCIERO INBURSA, S.A.B. DE C.V.
05/02Factbox-Citigroup's Mexican consumer banking unit lures various potential bidders
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01/16Mexican entrepreneur Garza Calderon confirms interest in Citi asset sale
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01/13Mexican president urges investors to 'Mexicanize' Citi asset sale
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Financials
Sales 2022 42 025 M 2 101 M 2 101 M
Net income 2022 20 170 M 1 008 M 1 008 M
Net Debt 2022 - - -
P/E ratio 2022 10,4x
Yield 2022 1,80%
Capitalization 211 B 10 558 M 10 558 M
Capi. / Sales 2022 5,03x
Capi. / Sales 2023 4,66x
Nbr of Employees 9 330
Free-Float 38,6%
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Number of Analysts 10
Last Close Price 34,29 MXN
Average target price 31,04 MXN
Spread / Average Target -9,47%
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Managers and Directors
Javier Foncerrada Izquierdo Chief Executive Officer & Non-Independent Director
Ra˙l Reynal Pe˝a Director-Administration & Finance
HÚctor Slim Seade Chairman
Laura Diez Barroso Azcßrraga Independent Director
David Antonio Ibarra Mu˝oz Independent Director