Banco CTT to finance credit for the Sonae Universe card – Empresas

Banco CTT will now finance the credit associated with the Universo card, from Sonae Financial Services, and manage its risk exposure.

In a statement sent this Thursday, the two companies reveal that they have closed a partnership that will remain in effect for the next five years, but “with a focus on the long term”.

The agreement provides that Banco CTT is responsible “for financing the operation, assuming the inherent credit risk and its management, thus reinforcing its presence in the consumer credit segment, diversifying credit exposures and business lines”. Within the scope of the partnership, Banco CTT “will make the Universo Card available to its customers”, which has more than 850 thousand customers, “in a ‘co-labeled’ model to be defined”.

Cited in the note, Luís Pereira Coutinho, CEO of Banco CTT, underlines that the partnership “is a very relevant additional step for Banco CTT to reinforce its presence in the financial services segment, demonstrating its skills in managing credit risk to individuals and allowing its customers access to yet another differentiating and competitive product “.

Luís Reis, CEO of Sonae Financial Services, emphasizes that the partnership “capitalizes on the skills and know-how of solid and credible partners, allowing Portuguese families to have access to innovative, agile and competitive financial and payment solutions, contributing decisively to expand the offer in a market in which Banking has historically played a leading role “.
This is not the first partnership signed between the two groups, which jointly own the Dott marketplace.

Source

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