Background and Significance of Citi in Mexico
Citi, one of the world’s leading financial institutions, has maintained a significant presence in Mexico for over 100 years. Following its recent separation from Banamex, Citi remains one of the top five global franchises in Mexico. The bank aims to support Mexican companies looking to internationalize and foreign entities interested in establishing themselves in Mexico.
Key Focus Areas
- Mexico and India receive special attention due to Mexico’s proximity to the United States and the growing international expansion prospects of a significant business sector.
- Citi’s commitment to Mexico is reinforced by its position as one of the two most relevant countries among the nearly 100 nations where it operates.
Post-Separation Citi in Mexico
Five months after the Banamex separation, Citi ranks 8th among Mexico’s largest banks according to the National Banking and Securities Commission (CNBV) ranking based on assets. With approximately 4,000 employees compared to Banamex’s nearly 39,000, Citi now focuses on serving large corporations, financial institutions, governments, investors, and transnational companies.
Financial Performance
- Citi reported a net income of $182 million by the end of Q1 2025 and achieved a return on equity (ROE) of 21%, return on assets (ROA) of 2.5%, and operational efficiency of 33%.
- Citi holds $550 billion in assets, $241 billion in loans, and $247 billion in deposits.
Key Positions and Leadership
Under the leadership of Álvaro Jaramillo, Director of Citi Group in Mexico, the team includes Luis Brossier as Corporate Banking Director, Mayra Balcázar as Commercial Banking Director, Gabriel Manzano as Market Director, and Julio Ruiz as Chief Economist for Mexico.
Citi’s Optimistic Outlook
Despite international trade policy changes by U.S. President Donald Trump and ongoing transformations in Mexico, Citi remains optimistic. The team is prepared to support the new government by directly aiding clients, and they are cautiously observing potential judicial system changes in Mexico.
Citi’s Globalization and Business Facilitation Strategy
With extensive global experience, Citi is determined to continue promoting globalization and facilitating business operations. The bank aims to become the primary catalyst for companies seeking international expansion, currently serving around 2,000 business groups in multinational corporate and investment banking.
Key Questions and Answers
- What is Citi’s strategy in Mexico post-separation from Banamex? Citi now focuses on serving large corporations, financial institutions, governments, investors, and transnational companies with a compact team of 4,000 employees.
- Which countries receive special attention from Citi? Mexico and India are given priority due to their strategic importance in international expansion.
- What are Citi’s financial performance indicators? Citi reported a net income of $182 million, ROE of 21%, ROA of 2.5%, and operational efficiency of 33% in Q1 2025.
- Who leads Citi in Mexico and what is the team composition? Álvaro Jaramillo leads Citi in Mexico, with key team members including Luis Brossier, Mayra Balcázar, Gabriel Manzano, and Julio Ruiz.
- How does Citi view current global and Mexican changes? Despite international trade policy shifts and domestic transformations, Citi remains optimistic and prepared to support the new government and observe judicial changes.
