FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
October 3, 2006
Banamex Builds Strategic Alliances to Support Financial Education
Mexico City – Banco Nacional de México signed today five collaboration agreements establishing strategic alliances for financial education with the Ministry of Public Education (SEP), the National Autonomous University (UNAM), the Monterrey Technological Institute (ITESM), Mexico’s Autonomous Technologic Institute, (ITAM) and the Iberoamerican University (UIA).
Banamex CEO, Manuel Medina Mora, hosted the event, at which special guests doctor Reyes Tamez Guerra, Ministry of Public Education, Enrique del Val, UNAM’s Secretary General, doctor Rafael Rangel Sostmann ITESM’s dean, doctor Arturo M. Fernández Pérez, ITAM’s dean, and doctor José Morales Orozco UIA’s dean attended.
Manuel Medina Mora said, “In 2005, we committed to make a ten-year investment of 120 million Mexican pesos to create a financial education project that would leverage from the knowledge of the bank’s collaborators. One year after its creation, the Financial Education area has consolidated a real presence in the education sector, which is reflected in the collaboration agreement we are signing today”. In turn, Loreto García Muriel, director of Educación Financiera Banamex, described her vision of financial education as, “A tool to better manage our resources and benefit from the growth opportunities in order to improve the levels of well-being and quality of people’s life. In a country such as ours with urgent education needs, efforts and experiences have to be put together in order to design, implement and evaluate various programs and actions to promote financial education.”\
Educación Financiera Banamex is the first and only project of its kind in Mexico with a sound strategy and clearly established commitments that is promoting financial culture that enhances the quality of life of people and families.
Likewise, it offers various educational contents for managing and using resources. Its pedagogical and financial approach is focused on the individual; it generates significant learning and fosters reflection and responsible decision making processes.
After one year, it has had the following accomplishments: 650,000 beneficiaries, 25 ongoing programs, and alliances with 33 strategic partners and the participation of Banamex employees as volunteers.
Educación Financiera Banamex confirms its commitment to promote a more responsible decision making process; to establish reachable financial goals; to provide value to savings and the importance of conscious consumption and, in general, to have more and better tools to decide what to do with personal, family, community and corporate resources.
In this first year of operations, this challenge has yielded its first fruits. Educación Financiera Banamex has cooperated with the five signatory institutions. With SEP-ILCE two interactive “Encyclomedia” programs were created: mathematics and civic education. With UNAM, a survey on financial culture in Mexico is being performed. With ITESM, an on-line course for migrants was implemented. With ITAM, 15 segments covering financial topics were created, as well as an on-line self-learning course and training for financial education promoters. On-line and regular courses have been organized with UIA on planning and personal finances.
At the end of the event, the attendees visited the Educación Financiera Banamex program show, displayed in the main patio of Banamex Corporate Office showing various materials: educational videos, Transmedia (audiovisual method to present educational content on a screen in a clear and accessible way), books, courses, manuals, conferences, and interactive programs produced by the area with the support of its strategic partners.
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Citigroup
Citigroup, the leading global financial services company which has some 200 million customer accounts and does business in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at www.citigroup.com.
Grupo Financiero Banamex
Grupo Financiero Banamex is Mexico’s leading financial group. Following a universal banking strategy, the group offers a wide variety of financial services to corporations and individuals including commercial and investment banking, insurance and investment management. Banamex, founded in 1884, is Mexico’s main commercial bank in terms of equity and profits. The bank has a wide distribution network of over 1,400 branches and 5,500 ATMs located all throughout the country.