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General

Telefonica and BBVA set up 'Movistar Money' in Colombia

Friday 4 December 2020 | 10:11 CET | News
Telefonica has set up a joint venture with Spanish bank BBVA to develop a consumer loan business in Colombia, confirming earlier reports. The company will be called Movistar Money Colombia, jointly controlled on a 50-50 basis, and will sell loans to Telefonica's 19 million-plus residential and business customers in Colombia, said the partners, who have already conducted a 6-month commercial pilot among a base of over 300,000 Movistar Colombia customers to test the service.

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Categories: General
Companies: Movistar Colombia / Telefonica
Countries: Colombia / Latin America
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