Rabobank considers JV with Agrobanco

Wednesday, October 19, 2011

Dutch bank Rabobank could team up with Peruvian state-run agriculture lender Agrobanco in a JV to boost lending to local farmers, government news agency Andina reported agriculture minister Miguel Caillaux as saying.

Caillaux noted that the government plans to convert Agrobanco into a bank that can accept deposits as well as offer a broader range of financial services than it currently does. Part of this plan involves teaming up with an international partner, he said.

Agrobanco currently has 300mn soles (US$110mn) in capital. The government expects a foreign partner to bring in both capital and know-how to help grow the bank's operations.

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