Banamex – Citi’s Latin American super-model

During the 2008 crisis, when Citigroup was accepting its bailout from the US government there were rumours circulating around Latin America that the bank would be forced, for either regulatory or capital-raising reasons, to sell Banamex. Itaú Unibanco was one of the banks most often put forward as lining up to take Citi’s Mexican franchise off its hands.