The Mexican government ruled out on Wednesday morning that it has an interest in buying Citigroup’s consumer bank in the country, Citibanamex, after the announcement of the American giant to abandon that business in the Latin American nation.
Citigroup reported Tuesday that it will sell that operation in Mexico, arguing that it intends to focus those efforts on global wealth, as well as payments and loans and a specific retail presence in the United States.
The Secretary of the Interior, Adam Augusto López Hernándezhe said at the head of the morning conference that the president’s administration Andrés Manuel López Obrador It is not interested in the purchase because it is focused on investing in large infrastructure projects, but it rejected that Citigroup’s move is a bad sign for Mexico.
“The economy in the country is doing well, in full recovery (…) It is not a bad sign, but the exercise of the right that a financial group has to transfer its investments, or simply or simply to withdraw, in terms of profit, part of its capital or all its capital, “he said from National Palace.