Ministry result

Mexico plans to concentrate market on sale of Citi, ministry says By Reuters

© Reuters. FILE PHOTO: A branch of Citibanamex is seen in Mexico City, Mexico on May 4, 2017. Photo taken on May 4, 2017. REUTERS / Henry Romero

MEXICO CITY (Reuters) – The Mexican will pay close attention to the issue of market concentration because Citigroup (NYSE 🙂 is preparing to sell its retail banking business in Mexico, the Finance Department said on Wednesday.

“The departure from our country of such a large consumer bank raises difficult questions for the financial and regulatory authorities, which will receive rigorous and strict attention from the Ministry of Finance, including a fundamental question concerning the concentration”, the ministry said.

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