PERU’S RICHES HAVE always been something to marvel at. The Incas built palaces of gold and the Spanish found treasure troves of silver, spices and precious stones. Now bankers are having their day, as the Andean nation’s unprecedented economic growth and low inflation attract global institutions such as HSBC, and home-grown successes such as Banco de Crédito are harvesting impressive profits.
Peru’s private sector banks reported a 56% increase in net profits to $382 million in the first half of this year, led by a surge in demand for consumer and private sector loans.
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