Information on Banamex sales will be released in April: Manuel Romo

Information on the sale process of the Banco Nacional de México (Banamex) will be released next April to those interested in its purchase (both domestic and foreign banks, as well as non-banks), said the CEO of Grupo Financiero Citibanamex, Manuel Romo.

This was reported to the media prior to the 85th Banking Convention that will take place on March 24 and 25 in the port of Acapulco, Guerrero, where President Andrés Manuel López Obrador, the head of the Ministry of Finance and Public Credit (SCHP), Rogelio Ramírez, as well as the new governor of the Bank of Mexico, Victoria Rodriguez Ceja.

In addition, Romo pointed out that a data room (data table) will be made available to those who meet the necessary requirements for their purchase, since he assured that it is important for them that the “information is in good hands”.

Similarly, Manuel Romo stressed that the profile of the candidates must guarantee that they have the financial solvency to acquire Banamex, as well as the commitment to handle the bank's information with the utmost responsibility, since it has more than 135 years of experience.

Among the requirements that the CEO pointed out for potential buyers are: executing a plan for each of his more than 38,000 employees, commitment to 22 million customers, as well as maximizing shareholder value, without neglecting responsibility to the communities where he works.

Another key point he presented was the outstanding dates in the sales process: January 11, the date on which Banamex's disintegration with Citigroup was announced; April 2022, when the data room is reported; the buyer will be informed by the end of 2022 and by the end of 2023 the separation of Citigroup will take place.

It should be recalled that last Tuesday, April 22, Grupo Financiero Banorte (GFNorte) issued a statement inviting citizens to recover Banamex and so on remains in the hands of all Mexicans. Although it is still analyzing its possible purchase (because the information provided so far is not sufficient to make a decision), it would materialize if it is beneficial to its shareholders.

In addition, it is intended that Mexicans become owners of the bank and join without a minimum of investment. According to the CEO of GFNorte, Marcos Ramírez Miguel, the invitation to join as investors also extends to its more than a thousand entrepreneurs, as well as to the members of its regional and local councils.

This plan is in line with what was said by President Andrés Manuel López Obrador, who has expressed his preference for Banamex to become “Mexicanized”, as he recalled that the cultural and artistic heritage of Fundación Cultural Banamex is included in the sales package, as well as the Afore, its branches and everything related to the brand.

For its part, the Spanish bank Santander has shown interest in the sale of Banamex, according to its president, Ana Botín. In addition, Ricardo Salinas Pliego, owner of Banco Azteca, also expressed the possibility of its purchase.

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