BANAMEX

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BANAMEX

The second-largest bank in Mexico. It was the result of a merger in 1884 and, in 1926 became the first Latin American bank to establish a presence in New York. It has been a subsidiary of Citigroup since 2001. It should not be confused with the Bank of Mexico, which is the central bank.
References in periodicals archive ?
This strategic transaction represents an important step for Banamex and the electronic payments market in Mexico," said Ernesto Torres Cantu, CEO of Citi Mexico and Grupo Financiero Banamex.
Integrante del Grupo Financiero Banamex (Banamex), a leading commercial bank in Mexico, and JCB International Co.
Brazilian bank Itau Unibanco (BVMF: ITUB4) is looking at the acquisition of Grupo Financiero Banamex, as part of its strategy to venture into the Mexican retail banking market, The BBR has reported.
In the most recent case, the company is alleged to have fraudulently obtained millions of dollar in loans from Mexico's largest bank Grupo Financiero Banamex (GFB).
Banamex is the main subsidiary of Grupo Financiero Banamex, which is integrated into Citigroup's worldwide network.
According to a survey carried out by Grupo Financiero Banamex, Apasco's cement prices fell 3.
The Latin America Investment Daily at Merrill Lynch said: "Recent press reports have contributed to increasing speculation about the possibility of a merger between Grupo Financiero Banamex and Grupo Financiero Bancomer.
Afore Banamex is a private pension fund management company, that belongs to Grupo Financiero Banamex.
Javier Arrigunaga is a recognized executive with a long and distinguished career, both in the public and private sector, formerly Chief Executive Officer of Grupo Financiero Banamex and Chairman of the Mexican Banking Association.
The unit, Grupo Financiero Banamex, said on Monday that its first-quarter net profit could be reduced by USD112m due to provisions for bad loans.
US-based Citigroup has controlling interest in Mexico's top bank, Grupo Financiero Banamex, while BBVA Bancomer, which ranks second, is owed by Spain's Banco Bilbao Vizcaya Argentaria.
8 billion acquisition of Grupo Financiero Banamex Accival (Banacci), Mexico's largest financial group.
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