Citigroup Inc.
Citigroup Inc. Announces Sale of Banamex Stake and Goodwill Impairment
Summary
On September 24, 2025, Citigroup Inc. (Citi) announced the sale of a 25% equity stake in Grupo Financiero Banamex, S.A. de C.V. (Banamex) to CHPAF Holdings S.A.P.I de C.V., a company owned by Fernando Chico Pardo, for approximately USD 2.3 billion. The transaction, expected to close in the second half of 2026, is subject to regulatory approvals. Additionally, Citi reported a non-cash goodwill impairment of approximately USD 726 million related to this transaction, which is capital neutral to the company.
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About Citigroup Inc.
Citigroup Inc. is a leading global financial services corporation, providing a broad array of financial products and services to consumers, corporations, governments, and institutions. As a diversified financial institution, Citigroup's primary function is to offer retail banking, commercial banking, investment banking, and wealth management services. The company plays a significant role in sectors such as consumer banking, treasury and trade solutions, and securities services, making it a pivotal player in the financial services industry. Headquartered in New York City, Citigroup is one of the world's largest banks by assets. It operates in over 160 countries and jurisdictions, underscoring its substantial international presence. The firm's impact is further amplified through its global reach in capital markets and advisory services, helping to facilitate trade and investment on a worldwide scale. Citigroup's diversified operations and extensive global network position it as a key contributor to financial market infrastructures and economic development.
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