Deutsche Bank opens subsidiary in Lima

Tuesday, July 8, 2008

Deutsche Bank reported it has established a subsidiary in Peru to participate in the foreign exchange, government bonds and derivatives markets of the mining country.

Peru's Lima bourse, along with Brazil's Bovespa, in recent years has been the fastest growing in Latin America and is dominated by the presence of mining companies.

The country has also shown rapid growth in its consolidated steel sector, which is fast at work to respond to skyrocketing construction demand.

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"Peru is a vibrant and growing economy and we see a great deal of opportunity here," the chief of Deutsche Bank's Lima office José Miguel Alcalde said in a statement.