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Buying Citi Mexico?

Monday, September 21, 2015

Citi is in retreat in Latin America, following the sale during the past year of its commercial banking operations in Costa Rica, El Salvador, Guatemala, Honduras, Panama and Peru.

In Mexico, Banamex this year fell to third place behind Bancomer and Santander, by assets.

Bancomer is a subsidiary of Banco Bilbao Vizcaya Argentaria, based in Bilbao, Spain.

The number-two bank is a subsidiary of Grupo Santander, based in Santander, Spain.

Banamex was Mexico’s biggest bank, when Citi acquired it in 2001.

Banamex does not publish financial information.

The price of Citi shares on the New York Stock Exchange had a low of $46.95 last January and a high of $60.43 in July, but year over year to date moved little.

The price on September 18 was $50.29, compared to $53.05 on the same date in 2014.