Grupo Financiero Banamex S.A. de C.V. has its origins and is the owner of Banco Nacional de México or Banamex, Mexico's second largest bank behind BBVA Bancomer. The Banamex Financial Group was purchased by Citigroup in August 2001 for $12.5 billion USD. It continues to operate as a Citigroup subsidiary. Banco Nacional de Mexico : Seguros Banamex : Afore Banamex : Accival - Acciones y Valores de México : Grupo Financiero Banamex has presence in the main towns and cities of all the states of Mexico. 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. The newly founded bank had branches in Mérida, Veracruz, Puebla, Guanajuato and San Luis Potosi, and opened a branch in Guadalajara. 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.
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