MEXICO CITY – The head of Citigroup’s Mexican bank on Monday denied reports that the troubled U.S. institution plans to sell Banamex to streamline operations and pare losses at home.

Banco Nacional de Mexico, known as Banamex, is part of Citigroup Inc.’s “strategic plan” for the future and will maintain lending levels despite Mexico’s slowing economy, CEO Enrique Zorrilla told reporters.

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