Banco Carrefour

Grupo Carrefour Brasil is the only retailer that controls its financial arm and has been operating in consumer credit solutions since 2007. We hold a 51% stake in Banco Carrefour’s capital stock, and Itaú Unibanco is our relevant minority shareholder. This allows for policy alignment between our stores and commercial bank policy, capturing greater share in the portfolio from the Company’s customer base. 

Banco Carrefour has been offering consumer credit solutions and product insurance through co-branded credit cards with Carrefour since 1989, and Atacadão, since 2017. This financial segment assists us in retail operations with payment solutions, differentiated credit, and discounted products in order to boost sales, traffic, and customer loyalty. On December 31, 2018, we recorded nearly 6.4 million Carrefour credit cards and 1.6 million Atacadão cards, totaling 8 million cards. 

Our consumer credit operation has a qualified management team with proven experience. We adopt what we believe to be the best risk management and credit analysis practices, reinforced by Itaú Unibanco’s investment in Banco Carrefour in 2012. This partnership with one of Brazil’s largest banks and consumer credit card operators benefits us in that we have access to its credit analysis know-how and expertise in the Brazilian credit card industry.

For the fiscal year ended December 31, 2018, nearly 24% of our sales at retail stores and 23% of our sales at e-commerce platform were made via Carrefour card, and 10% of sales at cash & carry wholesale stores were made via the Atacadão card, which was launched in early 2017. We believe there is plenty of room for the credit card services we offer our customers to expand.