HSBC Bank Peru begins operations on Oct. 9

(LIP-wb) — HSBC Bank Peru will kick off banking operations in Lima on October 9th, 2006, with a capital share of 26 million US dollars, informed the Peru’s Banking and Insurance Supervision.

HSBC (Hongkong and Shangai Banking Corporation Ltd.) received authorization by Peru’s supervising body last Thursday to become the twelfth bank in the Peruvian market.

Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC’s international network comprises over 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa, and has more than $93 billion in assets.

After Mexico, Chile, Brazil, Uruguay, Panama, Argentina and Paraguay, Peru will become the eighth country in Latin America in which HSBC is represented.

Peru’s banking system has gained increased attention recently from foreign investors, including Canada’s Scotiabank which now runs the third-largest bank in Peru after acquiring Banco Wiese Sudameris and Banco Sudamericano this year.

– related article –

– Peru regulator authorizes HSBC to start banking operations (by MarketWatch)