bank
A bank is a financial institution that accepts Deposit account, 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 m ...
. Founded in 1998,
United Nations
The United Nations (UN) is the Earth, global intergovernmental organization established by the signing of the Charter of the United Nations, UN Charter on 26 June 1945 with the stated purpose of maintaining international peace and internationa ...
, ''Foreign Investment in Latin America and the Caribbean 2005'', 2006, p. 154BusinessWeek profile /ref> It is headquartered in
Las Condes
Las Condes is a commune of Chile located in Santiago Province, Santiago Metropolitan Region. The area is inhabited primarily by upper middle- to high-income families and is known in the Chilean collective consciousness as home to the country's e ...
, Chile. It is a subsidiary of
S.A.C.I. Falabella
Falabella S.A. is a Chilean multinational company. It is the second largest retail company in Chile after Cencosud and one of the largest in Latin America. It operates its flagship Falabella department stores in addition to Mall Plaza shopping ...
and has branches in Chile,
Peru
Peru, officially the Republic of Peru, is a country in western South America. It is bordered in the north by Ecuador and Colombia, in the east by Brazil, in the southeast by Bolivia, in the south by Chile, and in the south and west by the Pac ...
, and
Colombia
Colombia, officially the Republic of Colombia, is a country primarily located in South America with Insular region of Colombia, insular regions in North America. The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuel ...
.Dan Molinski, 'Chile's Banco Falabella Gets Banking License In Colombia', in ''
The Wall Street Journal
''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...
'', 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 ( ; ), founded in 1535 as the Ciudad de los Reyes (, Spanish for "City of Biblical Magi, Kings"), is the capital and largest city of Peru. It is located in the valleys of the Chillón River, Chillón, Rímac River, Rímac and Lurín Rive ...
. 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.