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Wednesday, January 30

Forbes / Reuters Peru's Banco Wiese looks to grow after cutbacks: "Wiese Sudameris, which was created in 1999 by fusing Banco Wiese and Banco de Lima Sudameris, is controlled by Italy's biggest bank, IntesaBCI. In 1999, the bank employed 3,500 people, but following a cost-cutting campaign, personnel has been reduced to 2,100, but at a high cost. Patarin said a shift in accounting methods also set the bank back." Wiese used to be a niche bank that catered to the wealthy. Now it's the second largest bank in Peru.



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