The government agency said that the bank will operate a single office at the start, and will aim at corporate financing for companies that have business ties in China, and at personal banking operations with Chinese citizens.

A number of foreign banks have opened offices in Peru in recent years, drawn in part by rising investments and strong economic growth. 

"The establishment of a subsidiary in Peru is part of the bank's international development strategy," SBS said in a communique.

(END) EEP/LVT