IMF Warns of Global Risks; Mexico Moves to Secure Digital IDs

This week in finance news: institutions and companies are strengthening digital identity systems to enhance security and trust amid a surge in cybercrime. Citigroup reported a 16% rise in profit, while CIBanco moved toward liquidation and BlackRock backed BBVA’s takeover bid for Banco Sabadell. Meanwhile, global finance leaders are gathering in Washington to address mounting economic risks amid trade tensions and shifting capital flows.

More news below:

Mexico Advances Digital Identity for Safer Financial Services

Mexico’s financial sector is stepping up efforts to strengthen digital trust, essential for identity verification, fraud prevention, and financial inclusion. According to Mexico’s financial protection agency, CONDUSEF, identity-theft-related fraud in the banking system reached MX$11.3 billion (US$611 million) in 2024—a 77% increase from 2023—yet financial institutions reimbursed only 1.4% to affected users. 

Citigroup’s 3Q25 Profit Up 16% Despite Banamex Stake Sale

Citigroup reported a 16% increase in its 3Q25 net income, reaching US$3.8 billion. This result occurred despite a significant accounting loss from the sale of a minority stake in its Mexican subsidiary, Banamex. The corporation’s positive financial performance stems from record revenues across all its operating divisions. This growth, according to its 3Q25 results, was driven by a resurgence in large-scale corporate deal-making during the quarter.

Mexico’s IPAB Starts CIBanco Payouts Following License Revocation

Mexico’s Institute for the Protection of Bank Savings (IPAB) began Oct. 13the repayment process for depositors with funds in CIBanco, following the revocation of the bank’s license and its subsequent liquidation. The move comes after the CNBV approved the cancellation of CIBanco’s authorization to operate as a multiple banking institution.

BlackRock Active Funds to Support BBVA’s Sabadell Bid

BlackRock’s actively managed funds are prepared to accept BBVA’s takeover offer for Banco Sabadell and sell their shares, sources told Bloomberg. The stake represents about 0.5% of Sabadell’s share capital. BlackRock is Sabadell’s largest shareholder, holding roughly 7.4% of the bank. Most of this is in passive funds, which track benchmark indices and have limited flexibility in takeover scenarios.

IMF Warns of Risks as Global Finance Chiefs Meet in DC

Finance ministers and central bankers from around the world are gathering in Washington this week for the annual meetings of the International Monetary Fund (IMF) and the World Bank, amid renewed trade tensions between the United States and China. The meetings coincide with Washington’s preparations to formalize a financial aid package of up to US$20 billion (MX$368 billion) for Argentina during President Javier Milei’s visit to the White House on Tuesday.