bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
. Founded in 1998,
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmoniz ...
, ''Foreign Investment in Latin America and the Caribbean 2005'', 2006, p. 154BusinessWeek profile /ref> It is headquartered in Las Condes, Chile. It is a subsidiary of S.A.C.I. Falabella and has branches in Chile,
Peru
, image_flag = Flag of Peru.svg
, image_coat = Escudo nacional del Perú.svg
, other_symbol = Great Seal of the State
, other_symbol_type = National seal
, national_motto = "Firm and Happy f ...
, and Colombia.Dan Molinski, 'Chile's Banco Falabella Gets Banking License In Colombia', in ''
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'', MAY 13, 201 /ref>
History
Chile
The bank was officially incorporated on August 10, 1998, after the shareholders' meeting of ING Bank (Chile) S.A. decided to change the name of the company to Banco Falabella, thus maintaining the banking license to operate within Chilean territory. Said resolution was published in the Diario Oficial de la República de Chile, Official Gazette of the Republic of Chile on August 14 of the same year.
Banco Falabella is currently present in the main Chilean cities, especially those where there are branches of the department store of the same name. Its headquarters are located in downtown Santiago. Its president is Julio Enrique Fernández and its general manager is Alejandro Arze Safian.
Peru
In Peru, Banco Falabella has branches in the main cities, being based in the former Nextel Building in
Lima
Lima ( ; ), originally founded as Ciudad de Los Reyes (City of The Kings) is the capital and the largest city of Peru. It is located in the valleys of the Chillón, Rímac and Lurín Rivers, in the desert zone of the central coastal part of ...
. By 2014, the bank already had more than 1,530,000 clients of credit cards, loans and savings products. Since 2022 the General Manager in Peru has been Matías Aranguren.
Colombia
On May 12, 2011, the Financial Superintendency of Colombia authorized the conversion of CMR Falabella S.A. to Banco Falabella Colombia, managing to obtain its banking license to operate throughout the Colombian national territory. After seven years of operation, in 2018 it was positioned as the fourth credit card issuer in Colombia, in addition to the first Mastercard card issuer in the country.