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#redirect Grupo Financiero Banamex Grupo Financiero Banamex S.A. de C.V. has its origins and is the owner of the Banco Nacional de México or Citibanamex (formerly Banamex). It is the second-largest bank in Mexico. The Banamex Financial Group was purchased by Citigroup in August ... Banamex ...
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Grupo Financiero Banamex
Grupo Financiero Banamex S.A. de C.V. has its origins and is the owner of the Banco Nacional de México or Citibanamex (formerly Banamex). It is the second-largest bank in Mexico. The Banamex Financial Group was purchased by Citigroup in August 2001 for $12.5 billion USD. It continues to operate as a Citigroup subsidiary. History Banamex was formed on 2 June 1884 from the merger of two banks, Banco Nacional Mexicano and Banco Mercantil Mexicano, which had operated since the beginning of 1882. The newly founded bank had branches in Mérida, Veracruz, Puebla, Guanajuato and San Luis Potosí, and opened a branch in Guadalajara. After the start of World War I, the French managers of the bank left Mexico. After 10 years, Agustín Legorreta Ramírez who served as acting president managed to revive the bank. Following its reorganization, the bank collaborated with Banco de Mexico and US government officials. By 1937, 36 out of 50 bank branches in Mexico were owned by Banamex. Banamex ...
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