What does the future hold for Mexico’s Banamex, which Citi owns? Although the US bank claims that Banamex is important to its recovery, after its sub-prime losses, many bankers and analysts in Mexico are sceptical. Speculation is rife about the future of the bank.
“I think everything is likely right now and I really don’t think a sale can be ruled out,” says Alejandro García, a senior banking analyst at Fitch Ratings in Mexico.
Another source questions the motives of new board members at Citi and whether they will push for a sale.
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