Citi Bullish on Peru Banks

Citi Bullish on Peru Banks

Peru

Peruvian banks have the most exciting industry dynamics in LatAm, says Citi, which has initiated coverage of Credicorp (buy/medium risk) and Intergroup (hold/medium risk). The bank says Peru has Asian levels of GDP growth combined with US levels of inflation, "creating almost the ideal macroeconomic backdrop for financial services to flourish and develop rapidly." Meanwhile, penetration of deposits and loans in Peru is among the lowest in the EM, suggesting high sustainable growth for Peruvian b

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