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 Panch...
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 Villa's revolution interrupted the bank's 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. From 1997 to 2001 Roberto Hernández RamÃrez was the CEO. 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. Manuel Medina Mora is the current Co-President of Citi, CEO Global Consumer Banking and Chairman Mexico. This year we celebrate our 130th anniversary, with a trajectory full of perseverance, dedication and pride. We have the experience and knowledge of each of our products, which have adapted to changing times and needs of our clients. Therefore, we know that our story will continue writing for more years. Disclaimer: http://www.banamex.com/es/redes_sociales.htm