Citigroup Inc., a prominent New York-based multinational investment bank and financial services corporation has taken a major decision to strengthen its growth prospects. The company has decided to buy Deutsche Bank Mexico. The talks are in early stages and the company is waiting for regulatory approvals.

The eminent firm started operating in Mexico more than a century ago and very much knows the dynamics of financial systems and customer demands of this region in great detail. It now intends to serve clients through its Institutional Clients Group (ICG) and private banking franchisee. The ICG offers unique services to financial institutions, corporations and governments, while the private bank segment serves wealthy individuals and families.

One of the company officials said that Mexico is a very important market for the company outside the USA and this new deal if processed ahead as per the plans then it will provide new avenues for elevated growth. The company has already begun the sales process and an initial public offering is also on the table.