Grupo Financiero Banorte acquired 44.28 percent of the share capital of Tarjetas del Futuro from Rappi for 50 million dollars, thereby consolidating its total control over this entity. According to the analysis by Alik GarcĂa, this operation will benefit the performance of Banorte's credit card segment, as the Tarjetas del Futuro portfolio represents 8.2 percent of the total portfolio of the financial group.
In figures, by the end of 2024, it is estimated that the credit portfolio of Tarjetas del Futuro will reach five thousand 640 million pesos, while Banorte's credit card business was 68 thousand 445 million pesos. This indicates that the Tarjetas del Futuro portfolio is approximately 8.2% of the total segment of the Financial Group.
Regarding the operation, Tarjetas del Futuro has more than 1.14 million cardholders. In the realm of Multiple Banking, where there are 43.31 million active credit cards, Rappi's market share is around 2.6 percent.
The Valmex analyst highlighted that, although Tarjetas del Futuro has been part of Banorte for over a year, it is a business with growth potential that adds value to the institution. Benefits include contributions to Banorte's digital strategy through innovative technologies, positive user acceptance thanks to the personalization of offers, and RappiCard’s average credit lines close to 21 thousand 369 pesos.
