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February 2006

Andean banking: Peru straightens up for international players

by Leticia Lozano

Peru’s retail banking market is almost unrecognizable from a decade ago. In the mid-1990s, when less than 15% of economically active Peruvians had a bank account, 26 banks were jockeying for business in a depressed local market, some with highly inadvisable lending policies.

Today, the ratio of non-performing loans stands at just 2.3% and the 12-bank market has become attractive enough to entice such players as Canada’s Scotiabank and the UK’s HSBC.

Scotiabank, Canada’s number three bank by assets, late last year paid about $330 million...

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China’s $1.7 trillion hangover

The money network:

Andean banking: Peru straightens up for international players

Peru’s retail banking market is almost unrecognizable from a decade ago. In the mid-1990s, when less than 15% of economically active Peruvians had a bank account, 26 banks were jockeying for business in a depressed local market, some with highly inadvisable lending policies.

You must be a trialist or subscriber to view this content

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Andean banking: Peru straightens up for international players

Peru’s retail banking market is almost unrecognizable from a decade ago. In the mid-1990s, when less than 15% of economically active Peruvians had a bank account, 26 banks were jockeying for business in a depressed local market, some with highly inadvisable lending policies.

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