Chilean retail holding company, Cencosud, is seeking to enter the Peruvian private bank sector, The Wall Street Journal reports. The company has received second stage approval to start administrative preparations for a bank network from Peru’s bank regulator, the SBS. Cencosud can make a final application for an authorization to operate in two years. Out of the 13 retail banks in Peru, Banco de Credito del Peru, owned by financial holding company, Credicorp, has about 40% market share.
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