Andean banks go regional

By:
Jason Mitchell
Published on:

Banks in Chile, Peru and Colombia are building platforms across the Andean region as a single commercial market between the three countries develops.

During the past two years, a number of banking groups have tried to take advantage of the growing trade links in the Andean region, which is one of the fastest-growing emerging markets in the world. The region’s capital markets are also becoming more connected after the Latin American Integrated Market (Mila) was established in May 2011.

This enables stockbrokers from the three countries to purchase and sell shares from the three stock markets through a local broker. Although the market’s trading volumes are still low, they are expected to pick up as taxation irregularities between the three countries are ironed out.

This has...