Since Q108, we have described numerically the
banking business environment for each of the countries
surveyed by BMI. We do this through our Commercial Banking Business Environment Rating (CBBER),
a measure that ensures we capture the latest quantitative information available. It also ensures consistency
across all countries and between the inputs to the CBBER and the Insurance Business Environment
Rating, which is likewise now a feature of our insurance reports. Like the Business Environment Ratings
calculated by BMI for all the other industries on which it reports, the CBBER takes into account the
limits of potential returns and the risks to the realisation of those returns. It is weighted 70% to the former
and 30% to the latter.
The evaluation of the limits of potential returns includes market elements that are specific to the banking
industry of the country in question and elements that relate to that country in general. Within the 70% of
the CBBER that takes into account the limits of potential returns, the market elements have a 60%
weighting and the country elements have a 40% weighting. The evaluation of the risks to realisation of
returns also includes banking elements and country elements (specifically, BMI''s assessment of longterm
country risk). However, within the 30% of the CBBER that take into account the risks, these
elements are weighted 40% and 60%, respectively.
Further details on how we calculate the CBBER are provided at the end of this report. In general, though,
three aspects need to be borne in mind in interpreting the CBBERs. The first is that the market elements
of the ''Limits of potential returns'' are by far the most heavily weighted of the four elements. They account
for 60% of 70% (or 42%) of the overall CBBER. Second, if the market elements are significantly higher
than the country elements of the limits of potential returns'', it usually implies that the banking sector is
(very) large and/or developed relative to the general wealth, stability and financial infrastructure in the
country. Conversely, if the market elements are significantly lower than the country elements, it usually
means that the banking sector is small and/or underdeveloped relative to the general wealth, stability and
financial infrastructure in the country. Third, within the risks to the realisation of returns category, the
market elements (ie: how regulations affect the development of the sector, how regulations affect
competition within it and the Moody''s ratings for local currency deposits) can be markedly different from
BMI''s long-term risk rating.
Peru Commercial Banking Industry
Published: August 2012 No. of Pages: 57 Price: US $ 1175
Table of Contents
surveyed by BMI. We do this through our Commercial Banking Business Environment Rating (CBBER),
a measure that ensures we capture the latest quantitative information available. It also ensures consistency
across all countries and between the inputs to the CBBER and the Insurance Business Environment
Rating, which is likewise now a feature of our insurance reports. Like the Business Environment Ratings
calculated by BMI for all the other industries on which it reports, the CBBER takes into account the
limits of potential returns and the risks to the realisation of those returns. It is weighted 70% to the former
and 30% to the latter.
The evaluation of the limits of potential returns includes market elements that are specific to the banking
industry of the country in question and elements that relate to that country in general. Within the 70% of
the CBBER that takes into account the limits of potential returns, the market elements have a 60%
weighting and the country elements have a 40% weighting. The evaluation of the risks to realisation of
returns also includes banking elements and country elements (specifically, BMI''s assessment of longterm
country risk). However, within the 30% of the CBBER that take into account the risks, these
elements are weighted 40% and 60%, respectively.
Further details on how we calculate the CBBER are provided at the end of this report. In general, though,
three aspects need to be borne in mind in interpreting the CBBERs. The first is that the market elements
of the ''Limits of potential returns'' are by far the most heavily weighted of the four elements. They account
for 60% of 70% (or 42%) of the overall CBBER. Second, if the market elements are significantly higher
than the country elements of the limits of potential returns'', it usually implies that the banking sector is
(very) large and/or developed relative to the general wealth, stability and financial infrastructure in the
country. Conversely, if the market elements are significantly lower than the country elements, it usually
means that the banking sector is small and/or underdeveloped relative to the general wealth, stability and
financial infrastructure in the country. Third, within the risks to the realisation of returns category, the
market elements (ie: how regulations affect the development of the sector, how regulations affect
competition within it and the Moody''s ratings for local currency deposits) can be markedly different from
BMI''s long-term risk rating.
Peru Commercial Banking Industry
Published: August 2012 No. of Pages: 57 Price: US $ 1175
Table of Contents
Executive Summary . 5
Table: Levels (PENbn) . 5
Table: Levels (US$bn) . 5
Table: Levels At April 2012 5
Table: Annual Growth Rate Projections, 2012-2016 (%) 5
Table: Ranking Out Of 59 Countries Reviewed In 2011 6
Table: Projected Levels (PENbn), 2008-2016. 6
Table: Projected Levels (US$bn), 2008-2010 . 6
SWOT Analysis 7
Peru Commercial Banking SWOT . 7
Peru Political SWOT. 7
Peru Economic SWOT . 8
Peru Business Environment SWOT 9
Business Environment Outlook 10
Commercial Banking Business Environment Rating . 10
Table: Peru''s Commercial Banking Business Environment Rating 10
Commercial Banking Business Environment Rating Methodology 11
Table: Latin America Commercial Banking Business Environment Ratings 12
Global Commercial Banking Outlook . 13
Latin America Regional Outlooks Overview 21
Regional Banking Sector Outlook . 26
Latin America Banking Sector Forecast Overview . 26
Table: Banks'' Bond Portfolios, 2010-2011 26
Table: Latin America Commercial Banking Business Environment Ratings 26
Table: Comparison Of Loan/Deposit, Loan/Asset And Loan/GDP Ratios 27
Table: Anticipated Developments In 2012 . 27
Table: Comparison Of Total Assets, Client Loans And Client Deposits, 2010-2011 (US$bn) 28
Table: Comparison Of Per Capita Deposits, 2011 (US$) . 28
Table: Interbank Rates And Bond Yields, 2011-Q112 29
Peru Banking Sector Outlook . 30
Economic Outlook . 34
Table: Peru – Economic Activity, 2011-2016 36
Competitive Landscape 37
Market Structure . 37
Protagonists 37
Table: Protagonists In Peru''s Commercial Banking Sector 37
Definition Of The Commercial Banking Universe 37
List Of Banks 38
Table: Banca Múltiple . 38
Company Profiles 39
Peru Commercial Banking Report Q3 2012
© Business Monitor International Ltd Page 4
Banco de Crédito del Perú 39
Table: Stock Market Indicators, 2006-July 2011 . 40
Table: Balance Sheet, 2006-2010 (PENmn, unless stated) . 40
Table: Balance Sheet, 2006-2010 (US$mn, unless stated) 40
Table: Key Ratios, 2006-2010 (%) . 41
BBVA Continental . 42
Table: Stock Market Indicators, 2006-July 2011 . 43
Table: Balance Sheet, 2006-2010 (PENmn, unless stated) . 43
Table: Balance Sheet, 2006-2010 (US$mn, unless stated) 44
Table: Key Ratios, 2006-2010 (%) . 44
Banco Interamericano de Finanzas 45
Table: Stock Market Indicators, 2006-2010 46
Table: Balance Sheet, 2006-2010 (PENmn, unless stated) . 46
Table: Balance Sheet, 2006-2010 (US$mn, unless stated) 46
Table: Key Ratios, 2006-2010 (%) . 46
Scotiabank Perú . 47
Interbank 48
Table: Key Statistics For Interbank Peru, 2008-2010 (PENmn) 48
Mibanco . 49
Banco Financiero . 50
HSBC Bank Perú 51
Banco Falabella Perú 52
Table: Key Statistics For Banco Falabella Perú, 2008-2010 (PENmn) . 52
BMI Banking Sector Methodology . 53
Table: Commercial Banking Business Environment Indicators And Rationale 55
Table: Weighting Of Indicators. 56Table: Levels (PENbn)
Table: Levels (US$bn)
Table: Levels At April
Table: Annual Growth Rate Projections (%)
Table: Ranking Out Of Countries Reviewed In
Table: Projected Levels (PENbn)
Table: Projected Levels (US$bn)
Table: Peru''s Commercial Banking Business Environment Rating
Table: Latin America Commercial Banking Business Environment Ratings
Table: Banks'' Bond Portfolios
Table: Latin America Commercial Banking Business Environment Ratings
Table: Comparison Of Loan/Deposit Loan/Asset And Loan/GDP Ratios
Table: Anticipated Developments In
Table: Comparison Of Total Assets Client Loans And Client Deposits (US$bn)
Table: Comparison Of Per Capita Deposits (US$)
Table: Interbank Rates And Bond Yields Q
Table: Peru – Economic Activity
Table: Protagonists In Peru''s Commercial Banking Sector
Table: Banca Múltiple
Table: Stock Market Indicators July
Table: Balance Sheet (PENmn unless stated)
Table: Balance Sheet (US$mn unless stated)
Table: Key Ratios (%)
Table: Stock Market Indicators July
Table: Balance Sheet (PENmn unless stated)
Table: Balance Sheet (US$mn unless stated)
Table: Key Ratios (%)
Table: Stock Market Indicators
Table: Balance Sheet (PENmn unless stated)
Table: Balance Sheet (US$mn unless stated)
Table: Key Ratios (%)
Table: Key Statistics For Interbank Peru (PENmn)
Table: Key Statistics For Banco Falabella Perú (PENmn)
Table: Commercial Banking Business Environment Indicators And Rationale
Table: Weighting Of Indicators
Table: Levels (PENbn) . 5
Table: Levels (US$bn) . 5
Table: Levels At April 2012 5
Table: Annual Growth Rate Projections, 2012-2016 (%) 5
Table: Ranking Out Of 59 Countries Reviewed In 2011 6
Table: Projected Levels (PENbn), 2008-2016. 6
Table: Projected Levels (US$bn), 2008-2010 . 6
SWOT Analysis 7
Peru Commercial Banking SWOT . 7
Peru Political SWOT. 7
Peru Economic SWOT . 8
Peru Business Environment SWOT 9
Business Environment Outlook 10
Commercial Banking Business Environment Rating . 10
Table: Peru''s Commercial Banking Business Environment Rating 10
Commercial Banking Business Environment Rating Methodology 11
Table: Latin America Commercial Banking Business Environment Ratings 12
Global Commercial Banking Outlook . 13
Latin America Regional Outlooks Overview 21
Regional Banking Sector Outlook . 26
Latin America Banking Sector Forecast Overview . 26
Table: Banks'' Bond Portfolios, 2010-2011 26
Table: Latin America Commercial Banking Business Environment Ratings 26
Table: Comparison Of Loan/Deposit, Loan/Asset And Loan/GDP Ratios 27
Table: Anticipated Developments In 2012 . 27
Table: Comparison Of Total Assets, Client Loans And Client Deposits, 2010-2011 (US$bn) 28
Table: Comparison Of Per Capita Deposits, 2011 (US$) . 28
Table: Interbank Rates And Bond Yields, 2011-Q112 29
Peru Banking Sector Outlook . 30
Economic Outlook . 34
Table: Peru – Economic Activity, 2011-2016 36
Competitive Landscape 37
Market Structure . 37
Protagonists 37
Table: Protagonists In Peru''s Commercial Banking Sector 37
Definition Of The Commercial Banking Universe 37
List Of Banks 38
Table: Banca Múltiple . 38
Company Profiles 39
Peru Commercial Banking Report Q3 2012
© Business Monitor International Ltd Page 4
Banco de Crédito del Perú 39
Table: Stock Market Indicators, 2006-July 2011 . 40
Table: Balance Sheet, 2006-2010 (PENmn, unless stated) . 40
Table: Balance Sheet, 2006-2010 (US$mn, unless stated) 40
Table: Key Ratios, 2006-2010 (%) . 41
BBVA Continental . 42
Table: Stock Market Indicators, 2006-July 2011 . 43
Table: Balance Sheet, 2006-2010 (PENmn, unless stated) . 43
Table: Balance Sheet, 2006-2010 (US$mn, unless stated) 44
Table: Key Ratios, 2006-2010 (%) . 44
Banco Interamericano de Finanzas 45
Table: Stock Market Indicators, 2006-2010 46
Table: Balance Sheet, 2006-2010 (PENmn, unless stated) . 46
Table: Balance Sheet, 2006-2010 (US$mn, unless stated) 46
Table: Key Ratios, 2006-2010 (%) . 46
Scotiabank Perú . 47
Interbank 48
Table: Key Statistics For Interbank Peru, 2008-2010 (PENmn) 48
Mibanco . 49
Banco Financiero . 50
HSBC Bank Perú 51
Banco Falabella Perú 52
Table: Key Statistics For Banco Falabella Perú, 2008-2010 (PENmn) . 52
BMI Banking Sector Methodology . 53
Table: Commercial Banking Business Environment Indicators And Rationale 55
Table: Weighting Of Indicators. 56Table: Levels (PENbn)
Table: Levels (US$bn)
Table: Levels At April
Table: Annual Growth Rate Projections (%)
Table: Ranking Out Of Countries Reviewed In
Table: Projected Levels (PENbn)
Table: Projected Levels (US$bn)
Table: Peru''s Commercial Banking Business Environment Rating
Table: Latin America Commercial Banking Business Environment Ratings
Table: Banks'' Bond Portfolios
Table: Latin America Commercial Banking Business Environment Ratings
Table: Comparison Of Loan/Deposit Loan/Asset And Loan/GDP Ratios
Table: Anticipated Developments In
Table: Comparison Of Total Assets Client Loans And Client Deposits (US$bn)
Table: Comparison Of Per Capita Deposits (US$)
Table: Interbank Rates And Bond Yields Q
Table: Peru – Economic Activity
Table: Protagonists In Peru''s Commercial Banking Sector
Table: Banca Múltiple
Table: Stock Market Indicators July
Table: Balance Sheet (PENmn unless stated)
Table: Balance Sheet (US$mn unless stated)
Table: Key Ratios (%)
Table: Stock Market Indicators July
Table: Balance Sheet (PENmn unless stated)
Table: Balance Sheet (US$mn unless stated)
Table: Key Ratios (%)
Table: Stock Market Indicators
Table: Balance Sheet (PENmn unless stated)
Table: Balance Sheet (US$mn unless stated)
Table: Key Ratios (%)
Table: Key Statistics For Interbank Peru (PENmn)
Table: Key Statistics For Banco Falabella Perú (PENmn)
Table: Commercial Banking Business Environment Indicators And Rationale
Table: Weighting Of Indicators
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