The giant Citi Group expands its Profits on the bag of New York this Wednesday, after announcing yesterday the sale of Banamex.
The action of american company It is trading at 68.58 dollars and means its highest intraday price in the last two months, since last November 16, when it reached 68.78 units at times of the day.
The price of its titles rises 2.1% this Wednesday and accumulates five days of advances, being its longest positive streak since last August, when it also linked five sessions in the green.
read also Citi puts Banamex up for sale; includes the brand, Afore, cultural heritage and credit in Mexico
citi extends its profits this Wednesday after announcing yesterday the sale of its consumer banking business, Afore and its insurance company in Mexico, where it has the largest branch network in the world. The offer includes licenses and brand Banamex.
With this announcement, a significant part of the oldest bank operating in Mexico, whose origins date back to 1884, is once again up for sale after the US firm acquired it in 2001 for nearly 12.5 billion dollars.
In the announcement from the United States, the global director of Citi, Jane Fraser, explained that Mexico continues to be a priority for the American company and that its efforts will focus on its institutional banking clients, that is, the corporate and wealth segment, among others. high profile.
“The decision to exit the consumer banking and corporate banking businesses in Mexico is fully aligned with the principles of our new strategic vision, it will allow us to allocate resources to opportunities aligned with Citi’s main strengths, as well as our competitive advantages, and we will be able to focus on businesses that benefit from connecting with our global network. In turn, it will allow us to further simplify our bank,” he explained.