Citi Mexico's strategy is focused on identifying market needs and to what extent the bank can meet them. Álvaro Jaramillo, the general director of the entity, noted that the focus is not so much on growth in certain segments, but on market penetration with solutions for customers. He highlighted that their objective is to compete with large banks and offer international services for companies in the process of expansion.
Jaramillo emphasized that there is still much to advance in the structure and environment of the Mexican payments system. Citi Mexico aims to contribute to the development of this system and is in constant dialogue with regulators to find ways to digitize payment processes. The bank wants to be a change agent and not just adapt to innovation, as mentioned by the general director.
Regarding its customers, Citi Mexico focuses on companies with international needs and on expanding their operations. He noted that they will continue to offer services such as hedging, market transactions, and lines of credit to meet their customers' demands. The bank is confident in its role in the Mexican financial system and its ability to compete locally and internationally.
After the successful separation from the retail business last year, Citi Mexico will seek to consolidate itself as a systemically important bank in the Mexican financial sector. The general director recalled Jane Fraser's message, CEO of Citi, about the need to focus on winning in a sophisticated and opportunity-filled financial environment. Jaramillo emphasized that market volatility can be an opportunity to drive change and innovation within the entity.
At the 88th Banking Convention, Citi Mexico will showcase its plans for the future, which include supporting emerging players in the financial market, following the strategy it has applied in other countries such as Brazil, Africa, and Europe. The entity's focus is on creating and enhancing different business areas, leveraging the opportunities offered by the Mexican market and its active participation in the transformation of the financial system.
