Falabella Bank

Falabella Bank, also known as Banco Falabella, is a Chilean retail banking brand belonging to S.A.C.I. Falabella. The bank was created in 1998 when the shareholders of ING Bank (Chile) S.A. approved a change of corporate name to Banco Falabella. The change preserved the institution's Chilean banking licence, and the resolution was published in Chile's Official Gazette on August 14, 1998. Its establishment connected the banking business with the broader Falabella retail ecosystem, particularly the department-store network and associated consumer-finance relationships. In Chile, the bank operates across the country's principal cities, with a branch presence historically concentrated in locations where Falabella department stores also operate. The institution's headquarters are identified in reference material as being in Santiago, specifically the Las Condes area. Its Chilean business provides consumer-oriented banking services, including credit cards, loans, savings products, and other retail banking services. The brand's distribution model has traditionally combined branches and the wider Falabella commercial network, giving it access to customers who use the group's retail and financial products. Banco Falabella also operates outside Chile. In Peru, it has branches in major cities and is based in Lima. Reference material reported more than 1.53 million Peruvian customers for credit cards, loans, and savings products by 2014, demonstrating the scale reached by the Peruvian operation at that time. The Peruvian business is part of the same cross-border Falabella financial-services platform, although country operations have their own management and regulatory structures. Matías Aranguren was identified as the general manager in Peru from 2022. In Colombia, the banking operation developed from CMR Falabella S.A. On May 12, 2011, Colombia's Financial Superintendency authorized the conversion of CMR Falabella into Banco Falabella Colombia and granted it a banking licence for national operations. The Colombian subsidiary subsequently expanded its position in payment cards. By 2018, reference material described it as Colombia's fourth-largest credit-card issuer and the country's leading Mastercard issuer. The bank therefore occupies a retail-finance position rather than operating primarily as an investment or wholesale bank. Its typical activities center on consumer credit, payment cards, savings, and branch-based or digitally supported banking services. Its cross-border footprint reflects the geographic expansion of the Falabella group, while its commercial identity remains closely associated with everyday retail customers and the group's broader store and services ecosystem. The available reference material confirms active operations in Chile, Peru, and Colombia, but does not provide enough current information to establish a complete picture of present-day ownership percentages, financial performance, digital products, branch counts, or current executive leadership across all markets.

Banco Falabella was formed in Chile in 1998 through the renaming of ING Bank (Chile) S.A. The decisive corporate action occurred at a shareholders' meeting on August 10, 1998, when the shareholders approved the new Banco Falabella name while retaining the institution's authorization to conduct banking business in Chile. The resolution was published in the Official Gazette on August 14 of that year. The change established the banking identity later associated with the Falabella retail group. The Chilean operation developed as a consumer-oriented bank with a presence in the country's main cities. Its branch network was closely linked to the geographic footprint of Falabella department stores, allowing the banking brand to participate in the group's wider retail and financial-services ecosystem. The bank's principal activities included credit cards, loans, savings products, and other services aimed at individual customers. The group subsequently established or expanded banking operations elsewhere in South America. In Peru, Banco Falabella developed a branch network in the principal cities and operated from Lima. By 2014, the Peruvian business was reported to have more than 1.53 million customers across credit cards, loans, and savings products. This indicates that the Peruvian subsidiary had become a significant consumer-finance operation, although the available material does not provide a continuous series of later customer or financial figures. Matías Aranguren was identified as the general manager in Peru from 2022. The Colombian business originated as CMR Falabella S.A. On May 12, 2011, Colombia's Financial Superintendency approved its conversion into Banco Falabella Colombia and authorized it to operate under a banking licence throughout the country. The conversion marked a shift from a narrower card or consumer-finance identity toward a full banking structure. By 2018, the Colombian operation was described as the country's fourth-largest credit-card issuer and its leading Mastercard issuer, reflecting a strong position in payment cards. Across the three markets, the bank's development has followed the Falabella group's regional retail strategy: use a recognized consumer brand and commercial distribution network to provide credit and other financial products to retail customers. The bank remains distinct from the department-store business but benefits from the same broader group context. The supplied reference material confirms operations in Chile, Peru, and Colombia, but does not establish a detailed chronology of later product launches, acquisitions, ownership changes, financial results, branch closures, or digital-banking developments. Those areas therefore remain undocumented in this dossier.

• 2022

  Matías Aranguren becomes general manager in Peru

  [1]Banco Falabellaen.wikipedia.org

  Matías Aranguren was identified as the general manager of Banco Falabella Peru from 2022.

• 2018

  Colombia card-market position reported

  [1]Banco Falabellaen.wikipedia.org

  After seven years of operation, Banco Falabella Colombia was described as the fourth credit-card issuer in Colombia and the country's leading Mastercard issuer.

• 2014

  Peruvian operation exceeds 1.53 million reported customers

  [1]Banco Falabellaen.wikipedia.org

  Reference material reported more than 1.53 million customers in Peru across credit cards, loans, and savings products.

• 2011

  Colombian banking licence approved

  [1]Banco Falabellaen.wikipedia.org

  Colombia's Financial Superintendency authorized the conversion of CMR Falabella S.A. into Banco Falabella Colombia and approved nationwide banking operations.

• 1998

  Banco Falabella is established in Chile

  [1]Banco Falabellaen.wikipedia.org

  Shareholders of ING Bank (Chile) S.A. approved the change of name to Banco Falabella on August 10. The resolution was published in Chile's Official Gazette on August 14, preserving the bank's licence to operate in Chile.

A retail and consumer-finance bank integrated with the Falabella commercial ecosystem, emphasizing cards, loans, savings, and access through branches in major cities.

• Banking

  Retail banking services

  Banco Falabella's core retail-banking activity serves individual customers through branch and related banking channels in Chile, Peru, and Colombia. The available reference material characterizes the business broadly rather than listing a complete current catalogue of accounts or digital services.

• Payment cards

  Falabella credit cards

  Credit cards are a central part of the bank's consumer-finance model. The products are associated with the Falabella retail ecosystem, and the Colombian operation was reported to be a major national card issuer. The source material does not specify current card names, fees, rewards, or eligibility terms.

• Consumer finance

  Consumer loans

  The bank provides consumer lending as part of its retail-finance offering. Loans are referenced alongside credit cards and savings products in the description of the Peruvian customer base, but the available sources do not identify individual loan products or their current terms.

• Deposits

  Savings products

  Savings products form part of Banco Falabella's basic retail-banking range in its South American markets. The supplied material confirms their availability but does not provide product-level details such as account formats, rates, minimum balances, or digital functionality.

• Payment cards

  Mastercard card services

  Banco Falabella Colombia became associated with Mastercard issuance and was described in 2018 as the country's leading Mastercard issuer. This reflects the subsidiary's importance in payment cards, although the reference does not identify specific card generations or current market share.

• 2011

  Conversion of CMR Falabella into Banco Falabella ColombiaStrategy

  Background

  The Colombian financial business sought authorization to operate as a bank across the national territory rather than solely under its previous CMR Falabella identity.

  Action taken

  The Financial Superintendency of Colombia approved the conversion and granted Banco Falabella Colombia a banking licence.

  Aftermath

  The Colombian subsidiary expanded its banking presence and was later reported to hold a leading position in Mastercard issuance and a top-four position in the country's credit-card market.

  Source

• 1998

  Renaming of ING Bank (Chile) as Banco FalabellaStrategy

  Background

  The shareholders of ING Bank (Chile) S.A. approved a new corporate identity aligned with the Falabella brand while maintaining the existing Chilean banking licence.

  Action taken

  The institution adopted the Banco Falabella name, with the resolution formally published in Chile's Official Gazette.

  Aftermath

  The decision created the Chilean banking platform that later operated as part of the broader Falabella retail and financial-services ecosystem.

  Source

• Unconfirmed

  Banco Falabella launches a zero-fee online account in Chile[3]Banco Falabella在智利推出零月费线上账户riotimesonline.com

  Reported: 2026-08-09

  Banco Falabella launched a current account in Chile that customers can open entirely online and that offers zero monthly maintenance fees, with conditions applying to many accounts opened during the August promotion.

1. 1Banco Falabellaen.wikipedia.org
2. 2Banco Falabella official websitebancofalabella.cl
3. 3Banco Falabella在智利推出零月费线上账户riotimesonline.com