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Peru's Banco de Credito buys Chile IM Trust stake
April 24, 2012 / 12:15 PM / in 6 years

Peru's Banco de Credito buys Chile IM Trust stake

SANTIAGO, April 24 (Reuters) - Banco de Credito, Peru’s largest bank, said on Tuesday it has bought a 60.6 percent stake in Chilean brokerage IM Trust, as it expands services for investors on the new regional MILA stock exchange.

Banco de Credito, controlled by financial holding company Credicorp Ltd, had said it would look for opportunities in Chile after buying a controlling stake in Colombian brokerage Correval for $77 million in December.

Banco de Credito did not specify how much the Chile purchase was worth.

The stock exchanges in Colombia, Chile and Peru brought together their operations last year in the so-called Integrated Latin American Market (MILA).

IM Trust provides advisory, securities and investment management services in Chile, Peru and Colombia, according to its website.

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