Carulla/Ripley Consumer Lending Firm Authorised, But Will It Materialise?

Colombia's financial regulator has authorised the creation of a consumer lending firm jointly owned by local retailer Carulla Vivero and Chilean retailer Ripley. The two companies plan an initial total investment of COP14.7bn (US$5.6mn), to be paid down in three tranches between now and 2008, each party contributing 50%. The lending firm will be called Cia de Financiamiento Comercial Ripley and will issue credit cards for Carulla's customers. The operation plans to attract 1.5mn customers to its credit-card business within a year. The cards will be marketed with both company's names on

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