Grupo Elektra is a Mexican financial and retailing corporation established by Hugo Salinas Price. CFSAA.com Accessed July 20, 2011. GRUPO ELEKTRA, S.A.B. Where we Are", "Grupo Elektra anuncia crecimiento de 87% de utilidad de operación en segundo trimestre 2016 (Spanish)", "Carta de los directores generales (Spanish)", "Banco Azteca te ofrece los mejores productos financieros (Spanish)", "2014 Global Financial Development Report", https://www.sec.gov/Archives/edgar/data/1299704/000104746911001973/a2202472z10-k.htm, http://investing.businessweek.com/research/stocks/people/people.asp?ticker=AEA:US, http://cfsaa.com/about-cfsa/2011-cfsa-members.aspx, "Suplemento definitivo Elektra 2016 (Spanish)", "Banco Azteca comienza operaciones en 749 sucursales por todo México (Spanish)", "Grupo Elektra concluye con éxito adquisición de Advance America (Spanish)", "Grupo Elektra anuncia el inicio de operaciones de Punto Casa de Bolsa (Spanish)", https://en.wikipedia.org/w/index.php?title=Grupo_Elektra&oldid=993904608#Advance_America, Financial services companies established in 1950, Companies listed on the Mexican Stock Exchange, Companies listed on the Madrid Stock Exchange, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License. Sovereign Wealth Fund Institute® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. 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.. Grupo Elektra The company operates more than 7,000 points of sale in Mexico, the United States, Guatemala, Honduras, Peru and Panama. 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. [14] The company is a member of the Community Financial Services Association of America.[16]. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. 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. Commercial Business. [14], Advance America does not franchise any of its centers in the United States or Canada and does not provide pawn lending. Filed with the Securities and Exchange Commission March 3, 2011. Grupo Elektra will acquire control of the outstanding shares of Advance America for $10.50 per share in cash. [6] The company operates through two divisions to satisfy the needs of its customers: commercial and financial. Grupo Elektra is a Mexican financial and retailing corporation established by Hugo Salinas Price. [15], Advance America provides its cash advances in small-denomination, short-term amounts. Elektra Group, operting as a subsidiary of Grupo Salinas, executed its offering of $108.3 million 9,35% notes. [10] Banco Azteca Mexico has more than 13 million of deposit accounts and a similar numbers of loan accounts. In the 2014 Global Financial Development Report about Financial Inclusion, the World Bank indicated that after two years from the start of operations of Banco Azteca in 2002, personal income increased 7% in areas where branches were established, and unemployment decreased 1.4%, due to the increased access to credit, with lower interest rates, compared to other local and microfinance loan providers.[13]. The Financial Business segment operations are carried out through subsidiaries of Grupo Elektra under the Banco Azteca brand. Current Assets for Grupo Elektra is $18,455,400,000 and SWFI has 1 periods of historical assets, 1 subsidiaries available for CSV Export. - ‘20-F’ for 12/31/99 - EX-21 Annual Report by a Foreign Non-Canadian Issuer - Seq. It is expected that Mr. O'Shaughnessy … de C.V. (Grupo Elektra) is a Financial Holding Company located in Mexico City Mexico, Latin America, and was founded in 1950. (, Community Financial Services Association of America website. Grupo Elektra, S.A.B. All material subject to strictly enforced copyright laws. There was an error. Grupo Elektra SA de CV engages in providing financial and retail services. Actinver and Punto Casa de Bolsa acted as placing agents on the offering. 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 is a Mexican financial and retail company operating in Latin America. Banco Azteca, the largest subsidiary of Grupo Elektra, is one of the largest banks in Mexico in terms of coverage. The company operates its business through two segments: Financial Business and Commercial Business. [10] The groups older Salinas y Rocha store format has 51 stores and its target market is made of the middle class. Grupo Elektra SA de CV engages in providing financial and retail services. Grupo Elektra General Information Description. SWFI is a minority-owned organization. Current Assets for Grupo Elektra is $18,455,400,000 and SWFI has 1 periods of historical assets, 1 subsidiaries available for CSV Export. It has 1,143 points of sale throughout Mexico and Central and South America, focused to underserved social classes. Get over 220,000 high net-worth attorney leads with email and phone numbers, Av. Errors are noted below: Thanks for reaching out. Grupo Elektra is a Mexican financial and retail company operating in Latin America. The Financial Business segment operations are carried out through subsidiaries of Grupo Elektra under the Banco Azteca brand. All Rights Reserved. MILLIONS OF MEXICAN PESOS. Nueva Elektra del Milenio, S.A. de C.V. is located in México, CIUDAD DE MEXICO, Mexico and is part of the Household Appliance Stores Industry. According to the World Bank, Banco Azteca has a positive impact on the development of numerous communities through micro financing. That represents a nearly 33 percent … Banco Azteca, the largest subsidiary of Grupo Elektra, is one of the largest banks in Mexico in terms of coverage. 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. Insurgentes Sur No. [11], Banco Azteca offers consumer and personal loans, credit cards, pawn lending, and group and commercial loans.[12]. No affiliation or endorsement, express or implied, is provided by their use. It is listed on the Bolsa Mexicana de Valores (ELEKTRA*) and on the Spanish Stock Market Latibex (XEKT). The company operates its business through two segments: Financial Business and Commercial Business. Grupo Elektra SAB de CV is a Mexican specialty retailer and financial services provider. The Rating Outlook is Negative. Grupo Elektra S.A.B. Grupo Elektra offers appliances, consumer electronics, furniture, motorcycles, mobile phones, computers, as well as electronic money transfer business and extended warranties, among many other products. Advance America is a payday loan provider in the United States, founded in 1997. Grupo Elektra is a Mexican financial and retail company operating in Latin America. The rating for the … 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. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. This page was last edited on 13 December 2020, at 03:00. Nueva Elektra del Milenio, S.A. de C.V. has 50000 total employees across all of its locations and generates $2.46 billion in sales (USD). 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. It also offers non-bank short term loans in the US. [9], Elektra is the most important store format of the company. Seguros Azteca offers life and liability microinsurance that can be acquired at affordable prices in Mexico and Latin America. 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. It has 1,143 points of sale throughout Mexico and Central and South America, focused to underserved social classes. (, "Advance America Cash Advance: CEO & Executives." The company has operations in Latin America and is the largest non-bank provider of cash advance services in the United States.[8]. (, 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. Salinas y Rocha founded as a furniture store. Businessweek.com. 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. Financial Business. Elektra is the most important store format of the company. Elektra Group, operting as a subsidiary of Grupo Salinas, executed its offering of $108.3 million 9,35% notes. [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]. Grupo Elektra's consolidated deposits were Ps.176,535 million, 17% higher than the Ps.150,781 million a year ago. CONSOLIDATED BALANCE SHEET. de C.V. As a result, these sources of work beneficiated low-income population segments that are the target market of Banco Azteca, which improved income distribution. It also offers non-bank short-term loans in U.S. Mexican financial and retailing corporation, "Advance America, Cash Advance Centers, Inc. Consolidated Statements of Income." 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. In 2012, Grupo Elektra, a wholly owned subsidiary of Grupo Salinas, acquired payday lender Advance America for an estimated $780 million USD. The Group operates more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador. The company has operations in Latin America and is the largest non-bank provider of cash advance services in the United States. Grupo Elektra SA de CV - ‘20-F’ for 12/31/02 - EX-8 - Annual Report by a Foreign Non-Canadian Issuer - Seq. "CFSA Corporate Member Companies." 9 - Subsidiaries List - Accession Number 0000903423-00-000316 - Filing - SEC de C.V. operates as a financial services and specialty retailing company in Latin America, as well as a short-term non-bank loan provider in the United States. Accessed July 20, 2011. DE C.V. AND SUBSIDIARIES. grupo elektra, s.a.b. Grupo Elektra Informe Anual 2015 (Spanish)", "Advance America. de C.V. (Grupo Elektra) is a Financial Holding Company located in Mexico City Mexico, Latin America, and was founded in 1950. 3 - List of Subsidiaries - Accession Number 0001169232-03-004413 - Filing - SEC 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. The Commercial Business segment engages in … Grupo Elektra and its subsidiaries will finance the transaction with cash on hand together with borrowings. The Financial Business segment operations are carried out through subsidiaries of Grupo Elektra under the Banco Azteca brand. Grupo Elektra S.A.B. [14] The advances are due on the customer's next payday. 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. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. William Webster IV is chairman of the board. The firm's main customers are found at the base of the socioeconomic pyramid. Grupo Elektra SA de CV, et al. As of December 31, 2013, Advance America operated over 2,500 lending centers in 29 states and 18 centers in Canada. It also offers non-bank short-term loans in U.S. Afore Azteca offers pension fund management with the support of the extensive geographical coverage of Grupo Elektra. In 2012, Grupo Elektra bought Advance America, leading company in non banking short term loans in United States and opened Punto Casa de Bolsa, stock market subsidiary that operates with the highest standards of safety and efficiency. Credit Ratings, Research and Analysis for the global capital markets. Entity with Fitch Analyst Adjusted Financials as featured on Fitch Ratings. © 2008-2021 Sovereign Wealth Fund Institute. 3579 Tlalpan La Joya Mexico City 14000 Mexico, Segment percentages and amounts available on swfi.com. In 2012, Grupo Elektra bought Advance America, a leader in non-bank short-term loans in the United States and opened the Punto Casa de … In 1993, Grupo Elektra bought the Imevisión government television network and renamed it TV Azteca. de c.v. and subsidiaries: consolidated income statements: millions of mexican pesos 1q19 Other risks that may affect Grupo Elektra and its subsidiaries are presented in documents sent to the securities authorities.Investor Relations:Bruno Rangel Grupo Salinas Tel. Actinver and Punto Casa de Bolsa acted as placing agents on the offering. The commercial business operates mainly through two chain stores: Elektra in Mexico and Central and South America, which is owned and operated by NEM, and Salinas y Rocha in Mexico, which is owned by Grupo Elektra’s subsidiary, Salinas and Rocha SA de C.V. and is operated by her. Grupo Elektra, S.A.B. ... About GRUPO ELEKTRA. … It operates in South and Central America and the United States. About Us. We will be in touch soon. [14], Advance America's current President and CEO is Jim Ovenden. The Financial Business segment operations are carried out through subsidiaries of Grupo Elektra under the Banco Azteca brand. TV Azteca created an initial public offering in 1997 on the Mexican and New York stock exchanges. 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. ) and on the offering under the Banco Azteca brand Rocha store format the! Bank events around the World Bank, Banco Azteca, the largest provider. For informational purposes only a similar grupo elektra subsidiaries of loan accounts content, logos and trademarks owned... Has 1,143 points of sale throughout Mexico and Latin America. [ 16 ] company is a Mexican financial retail. 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