Citigroup Announces Banamex Agreement with Mexican Financial Authorities.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Citigroup announces that its subsidiary in Mexico, Banamex, has reached an agreement with the Mexican financial authorities that will bring to a close the long-standing issue related to the sale of loans to FOBAPROA FOBAPROA Fondo Bancario de Protección al Ahorro (Spanish) in 1995-1996, at the height of the Mexican financial crisis. As Citigroup had reserved for this matter, the resolution with the Mexican government will not have a negative financial impact on the company's consolidated financial results. Citigroup (NYSE NYSE See: New York Stock Exchange : C), the preeminent global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com. |
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