Companies of the Magazine Luiza Group Adhere to the Brazil Pact for Business Integrity

In an initiative to strengthen transparency and ethics in business, Magalu Consortium and MagaluBank, companies belonging to the Magazine Luiza group, announced today their adherence to the Brazil Pact for Business Integrity. This commitment is part of an initiative promoted by the Office of the Comptroller General (CGU).

The Brazil Pact is a voluntary program that encourages companies to publicly commit to business integrity. Carlos Mauad, CEO of MagaluBank, emphasized the importance of this action: “This demonstrates our commitment to promoting transparency and preserving the reputation of our financial vertical.”.

The two companies, which are part of the Magalu group's financial vertical, serve thousands of customers monthly. Adherence to the Pact is seen as a way to minimize corruption risks and expand business opportunities with partners who share the same ethical values.

This initiative aligns with the Magalu group's Compliance Program, established in 2017, which aims to ensure the company's ethical behavior. Participation in the Brazil Pact reaffirms the senior management's commitment to the continuous pursuit of high integrity standards.

The adherence of Magalu Consortium and MagaluBank to the Brazil Pact for Business Integrity marks an important step in promoting ethical and transparent business practices within the Brazilian financial sector.