Source, press: Wiese Sudameris up for sale

Peru's third largest bank Banco Wiese Sudameris is currently taking steps to sell its operations though nothing is confirmed at this time, local press reported and a financial system source told BNamericas. Wiese Sudameris' spokesperson would not confirm that the bank is interested in selling, adding that it is only a rumor and nothing is official. "I think the bank is in the process of selling, and that [Canadian bank] Scotiabank is the most likely buyer," the source said. "It is possible that other international players are interested, but the presence of foreign banks has diminished significantly in Peru with the exit of BankBoston, as well as Standard Charter operating from branches in the US." BankBoston Peru was bought by the country's largest bank Banco de Crédito del Perú (BCP) for US$403mn earlier this year. Local press has pointed out local financial group Grupo Wong as a likely candidate for Wiese Sudameris. Grupo Wong operates mainly in the supermarket business and has a very small presence in the financial system. Banco Wiese Sudameris commands a 14.5% and 15.6% loan and deposit market share respectively, with 5.11bn nuevos soles in loans and deposits worth 7.07bn nuevos soles.