Question 1

What is Banco Falabella?

Accepted Answer

Banco Falabella is a retail banking institution in Peru specializing in consumer credit and personal financial services. It is a subsidiary of the Chilean retail conglomerate S.A.C.I. Falabella, one of Latin America's largest retail groups with over 100 years of history. The bank focuses on providing financial products to individuals, particularly through its signature CMR credit card program, consumer loans, and savings products. As of 2023, Banco Falabella is the leading credit card issuer in Peru with approximately 1.36 million cardholders, representing about 21.4% of the banking market by number of cardholders.

Question 2

When was Banco Falabella founded?

Accepted Answer

Banco Falabella Peru was established as Financiera CMR S.A. in June 1996 and began operations on January 31, 1997, after acquiring Prosefín's loan portfolio. The entity operated as a finance company for over a decade before transforming into a full bank. On February 7, 2007, Financiera CMR formally converted to a bank and changed its name to Banco Falabella Perú S.A. The bank received its operating authorization from the Superintendencia de Banca, Seguros y AFP (SBS) through Resolution No. 760-2007 on June 11, 2007, and officially began banking operations on August 5, 2007.

Question 3

Where is Banco Falabella headquartered?

Accepted Answer

Banco Falabella is headquartered in the San Isidro district of Lima, Peru, specifically at Calle Chinchón N°1060. The bank's administrative offices are also located at Calle Carpaccio No. 250 (floors 4, 8, and 12) in Lima. San Isidro is Lima's primary financial district, making it a strategic location for the bank's headquarters alongside other major financial institutions in Peru.

Question 4

Where does Banco Falabella operate?

Accepted Answer

Banco Falabella operates throughout Peru with a presence in the country's main cities and 14 departments. The bank maintains approximately 41 offices nationwide, with a significant concentration in the Lima metropolitan area. Its branch network is strategically integrated with Falabella Group retail locations, including offices within Saga Falabella department stores, Tottus supermarkets, and Sodimac home improvement stores. Outside Lima, the bank has established a presence in key regional cities including Trujillo, Chiclayo, Piura, Arequipa, Ica, and Cajamarca, ensuring coverage of Peru's major urban centers.

Question 5

What services does Banco Falabella offer?

Accepted Answer

Banco Falabella offers a comprehensive range of retail banking services focused on consumer finance. The bank's core products include the CMR Falabella credit card and CMR Visa credit card, which are the bank's flagship offerings and provide rewards programs, promotional discounts, and payment flexibility.

Consumer lending products include Rapicash and Supercash personal loans, automotive credit, and mortgage loans. On the deposit side, the bank offers savings accounts (Cuenta Banco Falabella), scheduled savings plans, and term deposits with competitive interest rates.

Digital banking services are a key component of the bank's offering, including a mobile app, online banking platform (Banca por Internet), and WhatsApp banking for conducting transactions, making transfers to other banks, and customer service inquiries. The bank supports popular Peruvian payment platforms including Yape and Plin for instant transfers. Customers can withdraw cash free of charge from Global Net ATMs and the Red Banco Falabella network.

Question 6

What makes Banco Falabella unique?

Accepted Answer

Banco Falabella's distinctive advantage lies in its deep integration with the Falabella retail ecosystem. The bank creates powerful synergies by financing purchases made at Falabella Group retail businesses, including Saga Falabella department stores, Tottus supermarkets, Sodimac home improvement stores, and Falabella.com's e-commerce platform. This integrated business model helps drive customer loyalty and increases sales for both the bank and retail operations.

The bank positions itself as a leader in credit card issuance, maintaining its status as Peru's number one credit card issuer for several years. Its CMR rewards program allows customers to accumulate points that can be redeemed for experiences, products, gift cards, and travel, creating an ecosystem that encourages continued engagement.

Banco Falabella emphasizes its vision to be "the best people's bank in the Peruvian financial system," focusing on personalized service and accessible financial products. The bank offers extensive daily promotions and discounts at partner merchants, including restaurants, supermarkets, pharmacies, gas stations, and entertainment venues, providing tangible value beyond traditional banking services.

Question 7

What type of financial institution is Banco Falabella?

Accepted Answer

Banco Falabella is classified as a retail bank (banco de consumo) under Peruvian banking regulations, supervised by the Superintendencia de Banca, Seguros y AFP (SBS). The bank specializes in consumer finance, focusing exclusively on individual customers rather than corporate or commercial clients. This specialization means the bank concentrates on personal credit products, particularly unsecured consumer loans and credit cards, along with retail deposit products. As a retail bank in Peru's concentrated banking system dominated by four large universal banks, Banco Falabella has carved out a successful niche market position by leveraging its retail group connections and focusing on consumer credit card products and personal loans rather than competing across all banking segments.

Banco Falabella

in Peru 🇵🇪

Crypto-Friendliness

All done!

About Banco Falabella in Peru