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CITI INVESTING ANOTHER $1 BILLION IN RENAMED MEXICO UNIT CITIBANAMEX


Citigroup Inc (C.N) is investing another $1 billion in its Mexican bank and renaming it Citibanamex in the strongest signal from management that the business is worth keeping for the long run.New York-based Citigroup said on Tuesday that the investments will be completed by 2020 and will improve digital tools, ATMs and branches.The new funds come in addition to Citi's 2014 commitment to invest $1.5 billion in the business, formerly known as Banco Nacional De México, or Banamex.

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#CITI #MexicanBank #Citibanamex

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