BBVA's Banco Continental aims to triple size in 5 years on middle-market lending

- Friday, September 9, 2011

BBVA's Banco Continental aims to triple size in 5 years on middle-market lending

The Peruvian subsidiary of Spanish bank BBVA (NYSE: BBVA), Banco Continental, plans to triple in size in the next five years, according to a research note by its competitor Scotiabank Perú.

Continental plans to focus on midsize businesses to achieve this growth target.

The bank plans to increase its profits by 15% and its lending portfolio by 20% this year.

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