After Citigroup’s announcement, Banamex clients will be able to carry out their operations normally, assures Condusef

The National Commission for the Protection and Defense of Users of Financial Services (Condusef) assured that the clients of Banamex will be able to continue doing their Bank operations with total normality, after the announcement of Citi Group on Tuesday.

Just on Tuesday the public learned that Citi Group, owner of Citibanamex or Banamex, will sell the institution, news that Condusef acknowledged surprised many, since the bank has been operating since 1884.

Read here: AMLO calls on investors in the country to “return Banamex to Mexico”; proposes Salinas Pliego, Slim and Hank González

“The users of Citibanamex They will be able to continue carrying out their transactions and banking operations as normal. The Condusef will continue to attend to the claims that the users have with the bank”, assured the agency.

He clarified that the process of sale it does not imply that it will be done in a fragmented manner. “It is a brand that is worth a lot, it has almost 22 million customers and, due to its size, it is considered an institution of systemic importance”, he pointed out.

the sale of Banamex, he continued, it will be from a “business in progress”, which operates and does business, which seeks to improve itself and serve people, so its customers they shouldn’t worry.

Condusef explained that, as of the third quarter of 2021, Citibanamex it ranked as the bank that reported the highest level of resolution in favor of the user; in addition to having a low rate of claims and the time it takes to deal with a complaint is also one of the shortest.

“The Bank, must comply day by day with all the regulations that apply to the banking sector and that the supervisory authorities such as the National Banking and Securities Commission, the Bank of Mexico and the Ministry of Finance itself must participate stealthily and directly in all this sales process”, he pointed out.

You can read: Mexico’s economic uncertainty paved the way for Citigroup to close operations: Banco BASE

He even highlighted that, due to its importance in the market, the Federal Competition Commission (Coffee) will surely participate in the sale process, when the groups interested in acquiring it become known.

The Government of Mexico already had prior knowledge of the decision to Citi Group, for which the Ministry of Finance and Public Credit issued a statement in which it stated that the consortium ratified Mexico as a destination market for investment global.

He also assured that the president of the group, Jane Fraser, came personally to Mexico to explain to the Mexican tax authorities her decision to leave the retail and corporate banking businesses, as part of her global strategy, just as she has done in Asian, European and Latin American countries.

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