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Peruvian bank From Wikipedia, the free encyclopedia
The Banco del Perú y Londres (Bank of London and Peru) was a British–Peruvian bank headquartered in Lima during the early 20th century. Its former headquarters, located at the city's historic centre are now a building owned by the Congress of Peru, named after Luis Alberto Sánchez.
Company type | Public |
---|---|
Industry | Financial services |
Founded | 1897 in Lima, Peru |
Founder | Augusto Wiese Eslava |
Defunct | 1931 |
Headquarters | Lima , Peru |
The bank was established in 1897 through the merging of the Bank of Callao (Banco del Callao) and The London Bank of Mexico And South America , headquartered in Mexico City, to extend the former's operations.[1] The merge with the bank in Callao, created in 1877, was proposed by Cuban economist José Payán ,[2] whose company had entered into a crisis following the War of the Pacific.[1][3]
The bank's building was designed by architect Julio Ernesto Lattini in 1905,[4] commissioned by Payán.[5] It was later acquired by the Banco Popular del Perú.[6]
It was later operated by Pablo La Rosa and stood out as a South American economic centre with foreign capital.[2][7] This bank had branches in other cities in the country,[1] and at the time it was one of the institutions most closely linked to the country's economy,[8] because it offered loans to the government.[2] By 1921 he obtained S/. 123 million in assets.[2]
However, due to the political crisis during the Military Junta of 1930, it caused its bankruptcy in 1931, which led to a financial crisis.[9][10] It competed with the Banco de Crédito and the Banco Continental, which survived after its liquidation by having foreign participation.[11]
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