Grupo Financiero Banamex S.A. de C.V. is one of the leading financial groups in Mexico. The Group is the owner of Banco Nacional de México (Banamex), Mexico's second largest bank behind BBVA Bancomer. Following a universal banking strategy, Banamex offers a variety of financial services to individuals and corporations, including commercial and investment banking, insurance, and investment management. Total assets: US$ 58.4 billion (as of December 31, 2011).
Banamex has an extensive distribution networks of almost 1,662 branches, 5,787 ATM's and more than 4,200 correspondent banks located throughout the country (as of December 31, 2010).
The Banamex Financial Group was purchased by Citigroup in August 2001 for $12.5 billion. The Group continues to operate as a Citigroup subsidiary.
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13.03.2011 Group recorded net earnings of $22.178 billion pesos (approx. $1.8 billion) in the full year 2010 (up 18%) and $5.077 billion pesos for the fourth quarter 2010.
No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters