Shares of Peru's largest bank, Credicorp (NYSE:BAP) have spent the last six months basically just hanging around, with the shares wobbling between $125 and $140. Investors have been mulling over changes in Peru's economy, the de-dollarization of the banking sector, loan growth and default trends, as well as company-specific issues like recent disappointments in earnings and the promising acquisition of Mibanco.
I hope it goes almost without saying that investing in a Peruvian bank carries certain risks above and beyond your typical investment, though clearly investing in banks like Citigroup (NYSE:C) and so on is hardly risk-free. This looks like a well-run bank, though, and a company that is structured to benefit from both the growth...
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