Cencosud signs credit card deal with Bradesco

- Friday, August 12, 2011

Cencosud signs credit card deal with Bradesco

Chilean retail group Cencosud has signed an agreement with Brazil's third largest banking group, Bradesco (NYSE: BBD), to operate the private label credit cards of its Brazilian operations, a press release from Cencosud reads.

Bradesco will manage Cencosud's GBarbosa supermarket credit card, and implement and operate the private label credit cards of its supermarket chains Bretas, Perini and Mercantil Rodrigues.

Cencosud said that it is seeking to triple its credit card business in Brazil in the coming years and that all its credit card operations in this market will be under the Cencosud-Bradesco credit card brand by May next year.

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