Banco Paris may enter Peru in 2010

Isabel Guerra

The Head of Peru’s Bank, Insurance and Fund Administrators (SBS), Felipe Tam, reported that the Chilean company Cencosud, owner of Wong Supermarkets, may be operating in the Peruvian banking market by 2010, through Banco Paris.

Tam had a meeting with some Cencosud executives before participating in the Hemispheric Insurance XXXII Conference in Las Vegas (USA), to begin this process.

Cencosud, controlled by Horst Paulmann, would reportedly be operating in Peru in nine months, which would add to the Chilean banks Falabella and Ripley, which operate in the country along with their respective department stores in the country, Saga Falabella and Ripley.

"The interest of the Chilean business and financial sector is mainly due to the fact that they see a great potential market in Peru for the business of credit card financing," Tam said.

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