Cofidis
From Wikipedia, the free encyclopedia
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | 1982 |
| Founder | 3 Suisses |
| Headquarters | , France |
Area served | France, Belgium, Spain, Portugal, Italy, Poland, Hungary, Czech Republic, Slovakia |
| Products | Consumer credit, Personal loans, Revolving credit, Insurance |
| Revenue | €19.7 billion (2023)[1] |
Number of employees | 5,894 (2023)[1] |
| Parent | Crédit Mutuel |
| Website | cofidis-group.com |
Cofidis (from the French: Compagnie financière de distribution) is a French multinational consumer credit company owned by Crédit Mutuel. It was founded in 1982 by 3 Suisses, a company jointly owned by the Otto and Mulliez families, to provide financing for mail-order purchases. Headquartered in Villeneuve-d'Ascq, France, Cofidis specializes in providing consumer loans and credit solutions primarily through remote channels such as telephone and online platforms.[2] Over the years, the company has expanded internationally, establishing operations in several European countries.
In the mid-1980s, Cofidis opened its first international branch in Belgium and subsequently expanded to Spain, Italy, Portugal, the Czech Republic, Hungary, Slovakia, Poland, Greece and Romania.[3] The company operates under four brands: Cofidis, Monabanq, Creatis, and SynerGIE, offering consumer loans, insurance, credit consolidation, payment solutions, and digital banking services.[4]
In 2003, Cofidis and Crédit Mutuel Nord Europe launched the joint venture Créfidis.[5] In 2004, Cofidis acquired a majority stake in C2C, the financial subsidiary of Camif.[6] Cofidis ceased its operations in Greece by 2006.[7]
In 2008–2009, Crédit Mutuel Alliance Fédérale (through Banque Fédérative du Crédit Mutuel) became the majority shareholder in Cofidis.[8] By 2020, it held 80% of the group. In 2024, Crédit Mutuel acquired the remaining 20% of Cofidis shares previously held by the Otto Group and the Mulliez family, thereby becoming the sole owner of Cofidis and its sister companies Monabanq and Creatis.[9]
In 2010, Cofidis also withdrew from Romania due to ongoing financial difficulties and limited prospects for profitability.[10]
In 2023, Cofidis France served about 10 million clients and collaborated with over 1,000 retail partners.[11]
In Hungary, Cofidis acquired Magyar Cetelem Bank in 2023 from BNP Paribas Personal Finance, boosting its presence in Hungary.[12]
In 2023, Cofidis developed a methodology to calculate its carbon footprint, with intentions to apply it across its European operations by 2024.[13] The company has also offered credit products aimed at social objectives, including zero-interest loans for bicycle purchases and loans designed for people with disabilities.[14]