HSBCbased in London, is not interested in buying Citibanamex, the consumer banking business that the US giant Citi Group has put up for sale in Mexico, said a group manager.
Citi Group announced in January that it would divest its Mexico business as part of a plan to streamline its operations, marking the end of two decades of the last of its retail ventures outside the United States.
“No, we are not looking to acquire in Mexico,” HSBC CEO Noel Quinn said Tuesday on a call with investors about the bank’s quarterly results and outlook.
Quinn explained that HSBC’s focus at the moment was on Asia and wealth management.
President Andres Manuel Lopez Obrador He has said that he would like Citibanamex to become “Mexicanized” and that there are large local businessmen who have enough capital to acquire it.