Includes special features of this country’s banking system and rules/laws that might impact U.S. business.
Last Published: 9/30/2019

The banking system is considered generally sound, thanks to lessons learned during the 1997-1998 Asian crises, and continues to revamp operations, increase capitalization, and reduce costs. Non-performing bank loans rose to 4.3% of gross loans as of September 2015, down from a high of 11% in early 2001. Capable bank supervision and strong GDP growth over the last decade also helped banks weather the 2008-2009 global financial crises with little trouble. Economic opening since the 1990s, coupled with competition, has led to banking sector consolidation. Sixteen commercial banks comprise the system, with assets accounting for 89.4% of Peru’s financial system. In 2018, three banks accounted for 71% of local loans and deposits among commercial banks. Of $122.6 billion in total banking assets at the end of May 2019, assets of the three largest commercial banks amounted to $87.3 billion. The Central Reserve Bank of Peru (BCRP) serves as the country’s central bank. The BCRP is an independent institution, free to manage monetary policy to maintain financial stability. The BCRP’s primary goal is to maintain price stability via inflation targeting. Inflation at year-end in Peru reached 1.4% in 2017, and 2.2% in 2018.
 

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