Deutsche Bank To Start Business in Peru Q1 2008

German banking group Deutsche Bank plans to start operations in Peru in the first quarter of 2008, once it obtains a permission from the country's banking sector regulator SBS, the president of Deutsche Bank Chile, Jose Miguel Alcalde, said.

The bank applied for the permission in August 2007, motivated by the financial stability in the country.

The activity of the bank in Peru will be strongly supported by the offices in Chile and New York. The president of the Peruvian unit will be Jose Miguel Alcalde.

Initially the Peruvian model will be very similar to the activity of the bank in Chile, with similar money supply, presence on the interest rate markets, and corporate finances covering companies and institutional investors on the domestic and international markets.

Peru will be the 76th country where Deutsche Bank will operate. The Andean country has been registering one of the highest economic growths in Latin America for the last ten years.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 3, 2007

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