Citigroup Closes Deal to Sell Banamex Stake to Chico Pardo

A Citibanamex bank branch in Mexico City. — A Citibanamex bank branch in Mexico City.
Photographer: Jeoffrey Guillemard/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Michael O'Boyle

December 15, 2025 at 9:42 PM UTC

Updated on

December 16, 2025 at 4:22 PM UTC

Citigroup Inc. completed its deal to sell 25% of its Mexican retail-banking unit, Banamex, to billionaire Fernando Chico Pardo, potentially putting the US bank on a faster track to exit its Banamex stake.

He will take over immediately as chairman of Banamex’s board, Citigroup said in a statement Monday. Manuel Romo will stay on as chief executive officer, Banamex said in a statement.