This excerpt taken from the UBB 20-F filed Jun 30, 2008.
LuizaCred is a financial consumer credit company, established through an equal partnership between Fininvest and Magazine Luiza, a well-known Brazilian department store chain. LuizaCred provides consumer finance and credit cards to Magazine Luiza customers. Magazine Luiza is geographically well positioned in the states of São Paulo, Paraná and Minas Gerais, which together respresent 48.7% of Brazils GDP according to IBGE (Brazilian Georaphy and Statistics Institute).
This excerpt taken from the UBB 6-K filed Jan 21, 2005.
LuizaCred, a Fininvest subsidiary, posted earnings of R$6 million in the third quarter of 2004, with annualized ROAE of 52.3% for the period. In the nine months of 2004, LuizaCred had earnings of R$17 million, 30.8% above the same period last year. Billings reached R$189 million in the third quarter of 2004, a 15.2% growth quarter to quarter and up 43.2% year to year. The company ended September 2004 with 1.3 million active customers and R$358 million in loan portfolio, an increase of 39.3% over the last 12 months. The company has presence at 198 Magazine Luizas points of sale and at 52 Lojas Arno points of sale, which were recently acquired by Magazine Luiza.