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.
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