Citi’s Banamex IPO May Stretch Into 2026
- CEO Fraser says market, regulatory approvals key to timing
- Citi may offer shares in 15% tranches, looking for investors
Citigroup completed its separation of Citibanamex into Grupo Financiero Citi Mexico and Grupo Financiero Banamex late last year in preparation for the IPO of Banamex shares.
Photographer: Jeoffrey Guillemard/BloombergCitigroup Inc.’s effort to list its Mexican retail banking operations may stretch into 2026 as it navigates a rocky market, regulatory approvals and seeks to bring key investors on board, according to its top executives.
The bank, which had originally targeted 2025 for the move, requires a slew of regulatory approvals to IPO in both Mexico and the US as it seeks to “make headway” with potential investors, Chief Financial Officer Mark Mason said on an earnings call Wednesday. The bank could place roughly 15% tranches of the business in offerings over a 12- to 24-month period until it’s fully exited the unit, he said.