Creditcorp offers Andean i-bank template

Creditcorp’s creation of a new pan-Andean investment bank has increased the prospect of further strategic tie-ups between investment banks in the region. Independent investment banks in Chile, Colombia and Peru report that they are being approached constantly by international, regional and local market participants and further consolidation in the near future is all but certain.

Creditcorp’s subsidiary, Banco de Crédito del Peru, acquired 51% of Colombian brokerage firm Correval in December 2011 and at the end of April it announced that it will acquire 60.6% of leading Chilean investment bank IMTrust. The creation of a pan-Andean investment bank follows BTG Pactual’s acquisition of Chilean investment bank Celfin, which also has operations in Colombia and Peru.

For the full story go to: http://tinyurl.com/7u5ybua

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