Best bank: Interbank
Peruvian banks had a difficult time in 2023, with zero GDP growth and a material contraction in domestic demand. However, inflation did begin to subside during the second half of the year, which led the central bank to reduce the reference interest rate for Peruvian soles by 100 basis points, ending the year at 6.25%. This reduction had a mixed impact for banks, lowering the average net interest margin but improving the country’s economic outlook.
AfE 2024
Against this challenging backdrop, Interbank delivered strong growth in its customer base. The bank was able to grow clients and revenues; and continued to consolidate its financial results thanks to its digital strategy. In particular, the bank grew its market share in retail deposits – improving its funding cost and mix – and continues to be the leading banking presence outside the capital Lima.
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