Tuesday , January 26 2021

Banco received permission to keep Walmart's entire financial business.

Today, BCI executives received good news from banks and financial institutions (Sbif). This is due to the fact that their intentions to acquire the entire financial business of Walmart Chile were approved by the controlling body of the bank.

With this news, BCI is already able to take control of 100% of the five companies that are part of the financial services of a retail company. Thus, credit cards added to various money advances and insurance of leading supermarkets will pass through the new administrator.

This business will be developed as part of a long-term agreement on commercial cooperation between Bci and Walmart and will be promptly implemented with the release and operation of a new MasterCard MasterCard Bci, the bank said.

BCI's general manager, Eugenio Von Chrismar, said the agreement “is part of the bank’s strategy to continuously search for growth opportunities locally and internationally (…), the acquisition will allow us to double the market share in credit cards. loan, in accordance with a specific plan. Financial services will enable us to receive almost 1.5 million credit card customers, ”he said.

Remember that this alliance figure is not new in Chile, as Scotiabank does the same wards with Cencosud cards and financial services.

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