Credicard sees year-end revenues up 22%
Bnamericas Published: Wednesday, December 08, 2004
Brazil's largest credit card issuer Credicard expects revenues to climb 21.7% this year to 17.6bn reais (US$6.41bn) compared to 2003, the company said in a statement. The credit card industry as a whole in Brazil is expected to lift year-end revenues by 20.9% to 100bn reais. Credicard expects to end the year with seven million clients. Credicard is owned by US banking giant Citigroup (NYSE: C) and Brazil's second largest private bank Banco Itaú (NYSE: ITU). The two partners recently bought the stake of their long-time partner, the country's third largest private bank Unibanco (NYSE: UBB).
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