CHICAGO -- Citicorp said it reached an agreement with Bancomer of Mexico under which Bancomer will sell only Citicorp Visa travelers checks.
The Mexican bank is committed to selling the Citicorp checks exclusively for the next three years rather than distributing its business among two or three issuers.
Bancomer has $30.8 billion in assets and a network of 760 branches in Mexico, as well as offices in major international money centers. It is Mexico's largest consumer bank and a top issuer of Visa credit cards.
Citicorp said it is the leading issuer of travelers checks in Brazil, Venezuela, and Mexico.