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Peru's Banco de Credito looks for Chilean partner
April 10, 2012 / 11:06 PM / 6 years ago

Peru's Banco de Credito looks for Chilean partner

LIMA, April 10 (Reuters) - Banco de Credito, Peru’s largest bank, is in talks to form partnerships with brokerages in Chile as it expands services for investors on the new MILA stock exchange, its CEO said on Tuesday.

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.

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

“We have various conversations with Chilean companies about the possibility of forming partnerships,” CEO Walter Bayly told journalists.

“Both investors and issuers in the three countries are becoming increasingly integrated and we believe that this way we will offer an important service to our customers.”

Trading volumes are still low on the MILA and tax laws and regulations have caused delays, but analysts say trading should increase as the economies of the three countries are growing quickly.

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