(LIP-jl) — The Spanish banking group Banco Santander Central Hispano has been granted authorization to begin its organization operations in Peru under the name “Banco Santander Peru S.A.”

Santander, currently the largest banking institution in Latin America, has more than 10,850 offices in 40 countries worldwide.

The group is currently present in the Latin America countries of Brazil, Mexico, Chile, Argentina, Puerto Rico, Venezuela, Colombia, and Uruguay.

Santander previously operated in Peru under the name Banco Santander Central Hispano until 2002 when it sold its Peruvian operations to Peru’s Banco de Credito for US$50.03 million.

The institution is expected to provide financial and investment services to Peru’s corporate and business institutions, including universities.

According to Banco Santander Peru representative Gonzalo Echeandia, Peru’s flourishing economy and its stable financial sector are providing an attractive option to financial institutions from around the globe.

Original Source: Spanish banking group Santander returns to Peru