The Colombian Banco Falabella, the newest financial institution of the Chilean Falabella Working Group, is now operating in Colombia with 840,000 clients, announced financial news site Portafolio Tuesday.
The bank president Jorge Villaroel told the media that the bank will offer its clients savings accounts, checking accounts, credit cards, a network of ATMs and other services.
The institution joins the ranks of Falabella banks already running in Peru, Argentina and Chile. The Falabella Group currently operates nine department stores in Colombia.
Villaroel stated that the bank will make an upcoming capitalization of $5.68 million and is pending authorization for another $11.36 million.
The bank’s portfolio reached over $340 million in the first financial quarter of 2011.
