Difference between Coppel and BanCoppel
Coppel is one of the most popular and fastest growing companies in Mexico. In these stores you can find everything from clothing and shoes to furniture and appliances. Coppel is characterized by offering payment facilities: they offer their products in small monthly installments (or weekly/fortnightly payments) for very long periods of time and with few requirements. This way of operating has earned them a lot of clientele and popularity, especially among the less favored classes. However, few people realize the very high interests that are included in the “affordable” payments.
As mentioned at the beginning, Coppel is constantly growing, incorporating new subsidiaries or adding services. Today its services are divided into two: commercial and financial. Over time, its financial services became its strong point thanks to the creation of BanCoppel. Currently, BanCoppel is an economic entity as important as any other Mexican bank. Its shares on the BMV tend to rise. The projections have shown data where growth continues to be a constant for these two companies.
Coppel |
bancoppel |
|
|---|---|---|
| Official name | Coppel Group SA de CV | BanCoppel SA Multiple Banking Institution |
| What services does it offer? | Sale of appliances, furniture, cell phones, electronics, toys, decoration, sports equipment, clothing for women, men, children, babies, personal care, car accessories, etc. In addition, they have financial services. | Since 2007, Bancoppel has offered the services of a bank. With this step, work from previous years was consolidated, in which Coppel sought to offer accessible banking services to its customers. |
| Founder | Enrique Coppel-Tamayo | Francisco Agustín Coppel Luken. In addition, Coppel Luken has been president of BanCoppel since its creation as well as the current CEO of Grupo Coppel. |
| Foundation year | 1941 | 2007 |
| national headquarters | Culiacan, Sinaloa, Mexico. | Culiacan, Sinaloa, Mexico. |
| Background | Enrique Coppel opened his first business in Mazatlan thanks to an inheritance received. His original name was “The Gift” and little by little it grew. Coppel is currently run by his 5 children, with the eldest son, Enrique Coppel Luken, at the helm. The Coppel are distinguished by their secrecy. They have kept a low profile despite operating one of the fastest growing and most important companies in Mexico. | Coppel already offered financing services, for example, by offering its products in payments. From there came the idea of creating a banking institution based on the same principles as Coppel. BanCoppel, therefore, was born as an option in terms of banking services, for the popular middle class. Therefore, one of its priorities is to offer services that are easy to understand, work with and accessible to all. |
| subsidiaries | BanCoppel, Coppel Canada, Viana, Afore Coppel, etc. | Does not apply. |
| Number of branches | The Coppel chain has more than 1,000 points of sale throughout Mexico. | Until 2012 BanCoppel operated in the 32 states of the Mexican Republic. At that time it had 787 bank branches and 44 ATMs. |
| Number of employees | It is estimated that around 70,000 people work for Coppel. | Around 7,677 employees work at BanCoppel. |
| Other services | Afore, life insurance, online store, payment of services, buying and selling dollars, gift table, personal or group loans and credits, money transfers and banking, among others. | BanCoppel includes the services of any other banking institution, such as:
All this while betting on customers who have no way of verifying their income, through payments in installments and without charging commissions. |
| Does it have branches outside of Mexico? | Yes, in Argentina and Brazil. | Not at the moment, BanCoppel’s banking services are limited to the Mexican Republic. |
| Official website | https://www.coppel.com/ | https://www.bancoppel.com/main/index.html |
| company value | $25.9 billion dollars | There is not any data concerning that. |
| company type | private | private |