The formal sale of Banamex starts in mid-April and in December 2022 there will be a new owner, revealed the general director of Citibanamex Banamex, Manuel Romo.
The manager explained that the process has four key moments: January 11, with the announcement of the sale; in April the data room arrives and registers bidders; later this year, the announcement of the winner; and at the end of 2023 comes the separation of the Citigroup franchise.
He pointed out that the disincorporation of Banamex has caused such expectation that “banks and non-banks, national and foreign” have already expressed their interest in analyzing and competing for the iconic National Bank of Mexico (Banamex).
What are the criteria for the sale of Banamex?
Prior to the start of the 85th Banking Convention, inaugurated this Thursday by President Andrés Manuel López Obrador, in Acapulco, Guerrero, Manuel Romo pointed out that there are five basic criteria to define the new owner of the bank:
- Economic solvency of the bidder
- Price, to maximize shareholder value
- Commitment to its 22 million customers
- A work plan for each of its 39,000 employees
- Establish a commitment to the communities where it works
“We are going to seek that the criteria are balanced. If a first criterion arrives with a huge check but the other three criteria are not consistent, they do not make sense, there is no clear strategy, because the largest amount is not going to win, ”he concluded.