|Sociedad Anónima Bursátil|
|Traded as||BMV: ELEKTRA|
|Industry||Retail, Banking, Finance|
|Headquarters||Mexico City, Mexico
|Mexico, Central America, South America|
|Ricardo B. Salinas, (Chairman)
Fabrice Deceliere Márquez, (CEO Elektra Stores)
Alejandro Valenzuela del Río, (CEO Banco Azteca)
Mauro Aguirre Regis, (CFO)
|Products||Home appliance, mobile phone, computers, consumer electronics, furniture, white goods, money transfers, extended warranties, ecommerce, financial services, deposits, personal loans, credit cards, commercial loans, liability insurance, life insurance, pension funds.|
|Revenue||$ 75,902 million (2015)|
|$ 9,194 million (2015)|
Number of employees
|Subsidiaries||Banco Azteca, Advance America, Italika, Seguros Azteca, Afore Azteca, Punto Casa de Bolsa|
Grupo Elektra is a Mexican leading financial and retailing corporation established by Hugo Salinas Rocha. The company has operations in Latin America and is the largest non-bank provider of cash advance services in the United States.
The Group operates more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador. The company operates through two divisions to satisfy the needs of its customers: commercial and financial.
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.
Elektra is the most important store format of the company. It has 1,143 points of sale throughout Mexico and Central and South America, focused to underserved social classes. The Salinas y Rocha store format has 51 stores and its target market is made of the middle class.
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.
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. Banco Azteca Mexico has more than 13 million of deposit accounts and a similar numbers of loan accounts.
According to the World Bank, Banco Azteca has a positive impact on the development of numerous communities through micro financing. 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.
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. As a result, these sources of work beneficiated low-income population segments that are the target market of Banco Azteca, which improved income distribution.
As for the other subsidiaries of Grupo Elektra, Seguros Azteca offers life and liability micro insurance that can be acquired at affordable prices in Mexico and Latin America. Afore Azteca offers pension fund management with the support of the extensive geographical coverage of Grupo Elektra. Advance America is a short-term non-bank loan provider in the United States, providing over 10 million loans annually through more than 2,000 points of sale in 29 states and, Punto Casa de Bolsa offers financial brokerage services to the middle class of the population.
Grupo Elektra Financial Highlights
|(Millions of Mexican Pesos)|
|Consolidated Non-Performing Loans||9%||6.1%|
- 1954: Starts selling merchandise on credit.
- 1987: Ricardo B. Salinas is named CEO.
- 1993: Begins offering electronic money transfer services.
- 1997: Expansion into Latin America starts.
- 1999: Retail chain Salinas y Rocha is acquired.
- 2002: Banco Azteca Mexico starts operations.
- 2003: Afore Azteca starts operating.
- 2004: Seguros Azteca begins offering its services.
- 2005: Assembly and selling of Italika-branded motorcycles starts.
- Elektra, Grupo (2015). "Grupo Elektra anuncia crecimiento de 37% de utilidad de operación (Spanish)" (PDF): 5.
- Elektra, Grupo (2015). "Grupo Elektra anuncia crecimiento de 37% de utilidad de operación (Spanish)" (PDF): 9.
- Elektra, Grupo (2016). "Cotiza en Bolsa Mexicana de Valores. Informe Anual 2015 (Spanish)" (PDF): 47.
- Advance America. "Advance America. About Us. Where we Are". Retrieved 15 August 2016.
- Elektra. "Elektra - Tienda en línea". Retrieved 20 August 2016.
- Elektra, Grupo (2016). "Grupo Elektra anuncia crecimiento de 87% de utilidad de operación en segundo trimestre 2016 (Spanish)" (PDF): 9.
- Grupo Elektra (2016). "Carta de los directores generales (Spanish)". Retrieved 20 August 2016.
- Banco Azteca (2013). "Banco Azteca te ofrece los mejores productos financieros (Spanish)". Retrieved 21 August 2016.
- Bank, World (2013). "2014 Global Financial Development Report" (PDF): 43–44, 115.
- Elektra, Grupo (2016). "Grupo Elektra May 2016 Report" (PDF): 14.
- Elektra, Grupo (2015). "Grupo Elektra anuncia crecimiento de 37% de utilidad de operación (Spanish)" (PDF): 4.
- Elektra, Grupo (2015). "Grupo Elektra anuncia crecimiento de 37% de utilidad de operación (Spanish)" (PDF): 3.
- Elektra, Grupo (2016). "Suplemento definitivo Elektra 2016 (Spanish)" (PDF): 26.
- Elektra, Grupo (2016). "Grupo Elektra May 2016" (PDF): 6.
- Ricardo Salinas. "Who is RBS? Timeline". Ricardo Salinas Pliego's Blog. Retrieved 28 August 2016.
- Elektra, Grupo (29 October 2002). "Banco Azteca comienza operaciones en 749 sucursales por todo México (Spanish)" (PDF).
- Elektra, Grupo (28 April 2016). "Cotiza en Bolsa Mexicana de Valores. Informe Anual 2015 (Spanish)" (PDF): 29.
- Elektra, Grupo (23 April 2012). "Grupo Elektra concluye con éxito adquisición de Advance America (Spanish)" (PDF).
- Elektra, Grupo (17 April 2012). "Grupo Elektra anuncia el inicio de operaciones de Punto Casa de Bolsa (Spanish)" (PDF).