Grupo Elektra Company Description

Grupo Elektra, S.A.B. de C.V. operates as a financial services and specialty retail company in Latin America.

The company operates in two segments, Financial Business and Commercial Business. It provides banking and credit services, including receiving deposits, accepting and granting loans and credit, raising funds from the public, investing in securities, entering repurchase agreements, issuing bank bonds, issuing subordinated debentures, and performing other commercial banking operations; short-term non-bank loans; and other financial services, including short-term cash advances.

The company is also involved in the provision of insurance and reinsurance services in life, accident and illness, damage operations, and personal accident and medical expense operations; insurance, coinsurance, and reinsurance services in property, casualty, and professional liability, marine and transportation, fire, earthquake, other catastrophic risks, and automobile; other related services; management of individual retirement account resources for workers; and brokerage services.

In addition, it engages in the retail business of motorcycles, telephones, appliances, household goods, entertainment, consumer electronics, furniture, computers, electronic money transfers, extended warranties, and cell phone minutes.

The company was founded in 1950 and is based in Mexico City, Mexico.