Living in Peru : your everyday companion

(LIP-jl) -- Peru's Banking and Insurance Superintendent (SBS in Spanish) informed that the Spanish banking group Santander, presented a solicitation that would authorize the organization to reopen its operations in Peru.

Santander operated in Peru under the name Banco Santander Central Hispano (Santander Central Hispanic Bank) until 2002 when it sold its Peruvian operations to Peru's Banco de Credito for US$50.03 million.

According to the SBS, the Santander group has requested a license which will enable it to provide financial and investment services to Peru's corporate and business institutions, including universities.

Peru's stable economic growth and its positive financial outlook have attracted various international banking institutions, such as HSBC (England), Scotiabank (Canada), and now Spain's Santander.

"Peru is becoming one of the most attractive financial outlets in Latin America. The influx of first rate banking institutions and the subsequent competition it will generate, will create a favorable banking environment for the Peruvian consumer," added a representative from the SBS.

Santander, currently the largest banking institution in Latin America, has more than 10,850 offices in 40 countries worldwide.

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