Citigroup Plans to Complete Banamex Split Next Week and Go Public by End of 2025 - WSJ

According to a report based on company officials, Citigroup (NYSE:C) is close to separating its individual banking division in Mexico, Banamex.

The bank announced that it will complete the separation of Banamex’s infrastructure systems from its other operations in Mexico next week. This marks a preliminary step toward the plan to list Banamex on stock exchanges in the U.S. and Mexico by the end of 2025. Citigroup intends to sell a portion of its shares through an initial public offering, followed by gradually divesting the remaining shares over time.