Credit Suisse, Goldman Sachs among four firms hired to consider Citigroup's Mexico business bid

A source familiar with the process said on Tuesday that Credit Suisse and Goldman Sachs had been hired by MADRID Reuters -- Spain to consider a bid for Citibanamex, Citigroup's retail bank in Mexico.

The source did not give any further details.

Santander did not respond to a request for comment, while Goldman Sachs and Credit Suisse were not immediately available for comment.

Santander submitted a non-binding bid for Citibanamex earlier this year, another source who had direct knowledge of the process said, who said binding bids were expected later this year.

Last Friday, the bank did not expect to reach a deal to sell its Mexican consumer banking arm Citibanamex until January 2023, according to the chief executive of Citigroup Latin America, Ernesto Torres Cantu.

Cantu said the bank was engaged with potential buyers but declined to provide more details about the stage of the sale process.

Cantu told a media briefing that Citi wants to sell Citibanamex's entire consumer and middle market businesses to a sole buyer.