Citi to exit Mexico retail banking, its biggest branch network
Jenny Surane
New York | Citigroup is planning to exit retail-banking operations in Mexico – where it has its largest branch network – as part of chief executive Jane Fraser’s continued push to overhaul the firm’s strategy.
The lender will keep its institutional businesses in the country, according to a filing on Tuesday (Wednesday AEDT). The exit could ultimately take the form of a sale or a public-market alternative, and will be subject to regulatory approval, Citigroup said.