There is a lot of interest in being part of Banamex, highlights Torres Cantú
Ernesto Torres Cantú, International Citi director, notes significant interest from international investors in Banamex, reflecting confidence in Mexico's economy.
In a recent interview with El Financiero, Ernesto Torres Cantú, who oversees Citi International's operations outside the United States, emphasized the considerable interest from international investors in Banamex. This interest not only indicates a robust confidence in Mexico's economic potential but also highlights the competitive advantages that the country retains. According to Torres Cantú, Citi's extensive presence in 94 countries allows the group a unique perspective on various economies, and in the case of Mexico, it has not lost its competitiveness despite global challenges.
Torres Cantú also revealed that after the sale of 49% of Banamex, which was finalized this year, the bank is expected to go public by 2027. However, he noted that there is also a possibility of transacting a direct stake in the bank sooner due to the high level of interest from prospective investors. The ongoing discussions about the sale of the remaining percentage of the bank are still in the early stages and have not yet been firmly established, indicating a cautious but strategic approach to potential investors.
Further concerning the Initial Public Offering (IPO), Torres Cantú mentioned that various factors will be considered before launching, including prevailing market conditions. This consideration suggests that while there is a strong appetite for Banamex among international investors, the timing and manner of its public offering will be crucial to optimizing its value and ensuring a successful entry into the market.