Scotiabank Peru: Scotiabank Peru's Banco Cencosud investment enhances its position in Peru's retail consumer sector, a credit positive
The acquisition will make Scotiabank Peru the second-largest credit card issuer in Peru and create cross-selling opportunities with regional retailer Cencosud.Scotiabank Peru is a multi-service banking institution engaged in financial operations, including trusts, consulting services, corporate banking, middle market banking, small business banking, personal banking, investment banking and institutional banking. Co.'s activities include receipt of deposits, granting loans and mortgage loans, certificates of deposit, issuing bonds, as well as promissory notes, certificates of deposits and issuance of credit cards, including American Express, MasterCard and Diners Club. As of Dec 31 2011, Co. had total assets of New Soles32,131,215,000 and total deposits of New Soles21,423,211,000.
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