Grupo Elektra is a Mexican financial and retail company operating in Latin America. In 2012, Grupo Elektra, a wholly owned subsidiary of Grupo Salinas, acquired payday lender Advance America for an estimated $780 million USD. Nueva Elektra del Milenio (NEM), the retail division of Mexican financial and retailing corporation Grupo Elektra, sold $500 million worth of seven-year bonds in its debut in the international debt market, according to a source involved in the deal. Informe Anual 2015 (Spanish)", "Advance America. It offers its services to sectors that have been underserved by traditional financial institutions through Banco Azteca, Seguros Azteca, Afore Azteca, Advance America and Punto Casa de Bolsa. de C.V. (Grupo Elektra) is a Financial Holding Company located in Mexico City Mexico, Latin America, and was founded in 1950. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. At December 31, 2010, had 10.8 million of savings accounts, accumulating Ps.54, 110 million in deposits and 9.1 million of credit accounts, which represent a net loan portfolio of Ps.24, 806 million. Accessed July 20, 2011. Fitch Ratings - Chicago - 20 Jan 2021: Fitch Ratings has assigned a 'BBB-' issue-specific expected rating to the $500 million series 2021-1 notes issued by Mexico Remittances Funding Fiduciary Estate. This page was last edited on 13 December 2020, at 03:00. Banco Azteca operates in Mexico, Guatemala, Honduras, El Salvador, Panama and Peru, and is the largest bank in Mexico in geographical coverage with more than 3,500 points of contact. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. Grupo Elektra, S.A.B. The Group operates more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador. The rating for the … Actinver and Punto Casa de Bolsa acted as placing agents on the offering. The company operates its business through two segments: Financial Business and Commercial Business. It has 1,143 points of sale throughout Mexico and Central and South America, focused to underserved social classes. Mexican e-commerce company Nueva Elektra del Milenio (NEM), a subsidiary of the financial and retailing corporation Grupo Elektra, has hired BCP Securities, Credit Suisse and Jefferies to lead its first sale of bonds in the international market, a source close to the deal said. [14] The advances are due on the customer's next payday. [9], Elektra is the most important store format of the company. MILLIONS OF MEXICAN PESOS. Grupo Elektra is a Mexican financial and retail company operating in Latin America. It is listed on the Bolsa Mexicana de Valores (ELEKTRA*) and on the Spanish Stock Market Latibex (XEKT). Current Assets for Grupo Elektra is $18,455,400,000 and SWFI has 1 periods of historical assets, 1 subsidiaries available for CSV Export. [10] The groups older Salinas y Rocha store format has 51 stores and its target market is made of the middle class. [15], Advance America provides its cash advances in small-denomination, short-term amounts. (, Community Financial Services Association of America website. Elektra is the most important store format of the company. On the deposit side, the bank offers a variety of savings products for its target market, with interest-bearing accounts that can be opened with one peso and do not generate commissions. [10], Grupo Elektra sells close to 1 of every 4 televisions commercialized in Mexico, 1 of every 5 refrigerators, 7 of every 10 motorcycles, and pays a substantial proportion of the electronic money transfers from the United States into Mexico.[11]. [14] The company is a member of the Community Financial Services Association of America.[16]. Grupo Elektra is a Mexican financial and retailing corporation established by Hugo Salinas Price. At December 31, 2009, had 8.7 million of savings accounts, accumulating Ps.50, 131 million in deposits and 9.5 million of credit accounts, which represent a net loan portfolio of Ps.21, 440 million. Grupo Elektra reported this Thursday that it sold all of its Banco Azteca del Peru shares to a group of Peruvian investors from the financial sector.. Elektra Group, operting as a subsidiary of Grupo Salinas, executed its offering of $108.3 million 9,35% notes. © 2008-2021 Sovereign Wealth Fund Institute. Grupo Elektra General Information Description. Blockbuster L.L.C., a wholly-owned subsidiary of DISH Network Corp. (NASDAQ: DISH), announced today that it has completed the sale of Blockbuster Mexi. Actinver and Punto Casa de Bolsa acted as placing agents on the offering. SWFI is a minority-owned organization. In 1993, Grupo Elektra bought the Imevisión government television network and renamed it TV Azteca. Grupo Elektra will acquire control of the outstanding shares of Advance America for $10.50 per share in cash. The Financial Business segment operations are carried out through subsidiaries of Grupo Elektra under the Banco Azteca brand. Advance America is a short-term non-bank loan provider in the United States[8][17] and, Punto Casa de Bolsa offers financial brokerage services to the middle class of the population. Errors are noted below: Thanks for reaching out. The Rating Outlook is Negative. The Financial Business segment operations are carried out through subsidiaries of Grupo Elektra under the Banco Azteca brand. Grupo Elektra's consolidated deposits were Ps.176,535 million, 17% higher than the Ps.150,781 million a year ago. All Rights Reserved. Banco Azteca, the largest subsidiary of Grupo Elektra, is one of the largest banks in Mexico in terms of coverage. Also, World Bank reported the increase in income was due to the strengthening of small businesses as a result of larger access to funding, while the growth of companies generated jobs. (, Community Financial Services Association of America, http://www.bmv.com.mx/en/issuers/statistics/ELEKTRA%20*-5457-615, http://www.grupoelektra.com.mx/es/sustentabilidad/gobierno-corporativo.html, http://www.grupoelektra.com.mx/es/sustentabilidad/carta-de-los-directores-generales.html, http://www.bmv.com.mx/en/issuers/profile/ELEKTRA-5457, "Grupo Elektra anuncia crecimiento de 37% de utilidad de operación (Spanish)", "Cotiza en Bolsa Mexicana de Valores. 14000 Mexico grupo elektra subsidiaries segment percentages and amounts available on swfi.com Ratings, Research and Analysis for the global markets. Elektra SAB de CV is a Mexican specialty retailer and financial services Association of America [. Analyst Adjusted Financials as featured on Fitch Ratings was last edited on 13 2020... Informational purposes only [ 15 ], Elektra is a payday loan provider the... The middle class extensive geographical coverage of grupo Elektra under the Banco brand. 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