David Páramo rejects that "the 4T ran" to Citibanamex and it becomes a trend

MEXICO CITY.- David Páramo rejected that “the 4T”, as the government of Andrés Manuel López Obrador is known, has run to Citigroup de México and noted that those who “do not know” support that version.

In a video that has turned it into a trend, he is seen arguing with Ciro Gómez Leyva about the departure of the Citibanamex group from the Country and denied that this was caused by government issues.

This is a business decision, it has nothing to do with the government. Those who do not know say that the 4T scares investments, that the slide has already started, or that they are fleeing the country, but it is only a business decision, “declared Páramo before Gómez Leyva.



Why Citigroup is leaving Mexico, as explained by David Páramo

After rejecting the government to run Citigroup de México, David Páramo explained that it is “a business decision” as he indicates that “they are losing market share”.

It may interest you: Citibanamex will sell everything in Mexico: What will happen to your Afore, debts and accounts

He explained that a highly competitive market such as retail banking, to Citigroup The reach of banks such as Banorte, HSBC, Banco Azteca, Multiva is reduced, which is why they have withdrawn 13 operations in the world to focus on investment banking.

“They no longer liked to dedicate themselves to the retail banking, now they go for the wholesale one,” adds Páramo.

Lastly he mentioned that Banorte, HSBC and Banco Azteca are emerging as the main candidates to buy Citigroup.

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