Scotiabank Peru SA
BBVL:SCOTIAC121.00
PEN
0.00
(0.00%)
Scotiabank Peru SA
BVL:SCOTIAC1
(Lima Stock Exchange)
Recent
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21.00
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ROIC.AI
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- Business
- Scotiabank Peru S.A.A. is a Peru-based commercial banking and financial services institution operating as a majority-owned subsidiary of Canada-based The Bank of Nova Scotia. Headquartered in San Isidro, Lima, Peru, with historical origins dating back to the establishment of Banco Italiano in 1889 and formally operating under its current corporate identity following the 2006 integration of Banco Wiese Sudameris and Banco Sudameris Peru, the company delivers a comprehensive portfolio of personal, commercial, corporate, and investment banking solutions to retail consumers, small and medium-sized enterprises, large commercial enterprises, institutional investors, and public sector entities across Peru. The bank conducts its operations through four principal business segments: Retail Banking, Commercial Banking, Corporate and Institutional Banking, and Wealth Management and Capital Markets. Scotiabank Peru provides a broad array of financial products and services, including deposit and liquidity management products such as checking accounts, regular savings accounts, term deposits, and CTS (Compensación por Tiempo de Servicios) accounts; consumer credit facilities, including personal loans, automobile financing, and residential mortgages; payment cards, including Visa, Mastercard, and American Express branded credit and debit cards, featuring digital wallet compatibility and integration with the Plin payment network; commercial and enterprise lending, encompassing short-term and medium-term working capital loans, structured credit, syndicated financing, financial leasing, and leaseback solutions; international commerce services, including import and export letters of credit, standby credits, documentary collections, foreign trade financing, and cross-border remittances; transactional cash management solutions, comprising automated corporate payroll processing, supplier payment management, electronic collection platforms, and liquidity concentration services; treasury and capital markets solutions, consisting of foreign currency exchange, interest rate and currency hedging derivatives, mutual fund administration via Scotia Fondos SAF, securities brokerage through Scotia Bolsa SAB, and fiduciary administration via Scotia Fiduciaria; and bancassurance products, spanning life, personal accident, unemployment, credit life, fraud protection, and home insurance policies distributed in partnership with leading insurance underwriters. In recent strategic developments, Scotiabank Peru has executed significant portfolio optimizations to align with the parent bank's international strategy focusing on core prime retail and commercial banking connectivity across the Americas. In 2024, the institution entered into an agreement to divest its microfinance and consumer lending subsidiary, Crediscotia Financiera S.A., to Banco Santander's consumer finance division, enabling the bank to streamline operations and concentrate capital on higher-tier retail banking, commercial clients, and wealth management. Furthermore, the company has accelerated its digital transformation roadmap, expanding automated end-to-end digital onboarding, scaling the interoperable Plin mobile payment ecosystem, and upgrading its digital banking infrastructure. Scotiabank Peru has also expanded its sustainable finance initiatives by structuring green, social, and sustainability-linked credit facilities and bond issuances for corporate clients, while concurrently reconfiguring its physical branch and automated teller network to emphasize an omnichannel service delivery model.