If
you
work
for
Citigroup’s
Mexican
retail
bank
and
you
really,
really
don’t
want
to
get
vaccinated
against
COVID-19,
Jane
Fraser
has
some
good
news
for
you:
Citigroup
Inc.
is
planning
to
exit
retail-banking
operations
in
Mexico
—
where
it
has
its
largest
branch
network
in
the
world
—
as
part
of
Chief
Executive
Officer
Jane
Fraser’s
continued
push
to
overhaul
the
firm’s
strategy.The
lender
will
keep
its
institutional
businesses
in
the
country,
according
to
a
filing
Tuesday.
The
exit
could
ultimately
take
the
form
of
a
sale
or
a
public-market
alternative,
and
will
be
subject
to
regulatory
approval,
Citigroup
said.
The
move
follows
Citi’s
bidding
hasta
mañana
to
its
Philippine
business
last
month,
and
ensures
that
along
with
coronavirus,
it
need
no
longer
fear
another
nasty
bout
of
banking
Montezuma’s
revenge.
Or
does
it?
“Mexico
is
a
priority
market
for
Citi
—
that
will
not
change,”
Fraser
said
in
a
separate
statement.
Boy,
Jane,
you’ve
got
a
funny
way
of
showing
it.
Citi
to
Exit
Mexico
Retail
Banking,
Its
Biggest
Branch
Network
[Bloomberg]
Citigroup
Continues
Consumer-Banking
Pullback
With
Philippine
Sale
[WSJ]
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