Banorte started talks to acquire Citibanamex

The CEO of the Monterrey-based bank stressed that an eventual purchase of Banamex would form the largest banking company in the country

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Grupo Financiero Banorte, by businessman Carlos Hank González, confirmed on Thursday that it has already begun the process for a possible purchase of Citibanamex, the third largest bank in Mexico

Marcos Ramírez, CEO of Banorte, said during the conference of his financial results that the negotiations are only in the first stage of negotiations. However, he clarified that it will be a very long process to get the information from his “room data”, since they have regional councils.

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