Citi spends $1 billion to create Citibanamex

Citigroup is investing another $1 billion in its Mexican bank and renaming it Citibanamex in the strongest signal from management that the business is worth keeping for the long run. New York-based Citigroup said on Tuesday that the investments will be completed by 2020 and will improve digital tools, ATMs and branches. “These investments in Citibanamex reaffirm our commitment to Mexico and our confidence in its prospects,” Citigroup CEO Mike Corbat said, Reuters reports. Switzerland’s Syngenta bets on Brazilian revival Agro-chemicals and seed giant Syngenta boosted its production capacity of fungicide and seed corn in Brazil – a country which last year tripped up the Swiss-based group. Syngenta said it had invested a combined total of $240 million in two […]

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