Citigroup renames scandal-hit Mexican unit, invests $1 bn

Citigroup announced Tuesday a long-term plan to build up its scandal-plagued Mexican unit Banamex, renaming the company Citibanamex and pumping $1 billion into the business through 2020. The plan includes a beefed-up physical presence in Mexico, with 2,500 new ATMs and 100 new "digital branches," which typically are staffed with a few humans and provide services through touch-screen and other automated capacities. Citibanamex will also upgrade its computer infrastructure systems to provide bette