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Banco Cencosud will begin operating in Peru sometime during the fourth quarter, executives said.
The bank will be part of the Chilean retail group of the same name, which owns supermarkets Wong and Metro in Peru. Cencosud announced earlier this year that it would open a bank in Peru.
Mario Campodónico, Cencosud Perú's retail finance unit manager, said the bank will be launching Wong and Metro-brand credit cards as soon as it opens.
"Banco Cencosud and its credit cards come with the goal of broadening the services we offer and generating value for our customers to meet their financing needs and turn our credit cards into the principal method of payment in the stores," he said, according to a report in the Andina state newswire.