Mexico eyeing market concentration on Citi sale, ministry says

A Citibanamex branch is seen in Mexico City
FILE PHOTO: A Citibanamex branch is seen in Mexico City, Mexico May 4, 2017. Picture taken May 4, 2017. REUTERS/Henry Romero

January 12, 2022

MEXICO CITY (Reuters) – Mexican will pay close attention to the issue of market concentration as Citigroup prepares to sell its consumer banking business in Mexico, the finance ministry said on Wednesday.

“The departure from our country of such a large consumer bank raises delicate matters for the finance and regulatory authorities, which will receive rigorous and strict attention from the finance ministry, including a fundamental issue regarding concentration,” the ministry said.

(Reporting by Dave Graham)