Banamex was formed on June 2, 1884 from the merger of two banks, Banco Nacional Mexicano and Banco Mercantil Mexicano, two banks that had operated since the beginning of 1882.
In 1916, General Pancho VillaÍs revolution interrupted the bankÍs role as banknote issuer for the Porfirio Diaz regime.
The bank was reorganized in 1926, becoming a financing bank and establishing the first agency of a Latin American bank in New York.
Banamex gradually introduced several financial product innovations to the Mexican market including savings accounts (in 1929), personal credit lines (in 1958), credit cards (in 1968), and ATM banking (in 1972).
In 1981, the California Commerce Bank was acquired by Banamex.
In 1997 Afore Banamex was created to tap into the newly created private pension fund market.
On August 6, 2001, Citigroup Inc. acquired Grupo Financiero Banamex-Accival for US$12.5 billion, which became Grupo Financiero Banamex. This was the largest-ever U.S.-Mexico corporate merger. Grupo Financiero Banamex's operations were integrated with Citibank's relatively small existing Mexico business under the Banamex brand name.
On 2014, we celebrated our 130th anniversary, with a trajectory full of perseverance, dedication and pride.
Starting October 4th 2016, as part of the investment program to offer best client experience -and as a further sign of CitiÍs commitment to Mexico-, Banamex will be known as Citibanamex. In an increasingly connected world, we maximize our strengths: CitiÍs global reach and Banco Nacional de M_xicoÍs local presence and tradition, for our customers, partners and colleagues to achieve their goals.
In Citibanamex we have over two centuries of global experience and leadership. We are Citibanamex, best of Mexico, best of the world.
- Company Name:Banamex