Citicorp will enter the $550 million Peruvian home mortgage market this year, a spokeswoman for the banking company has confirmed.

Bank officials told Dow Jones Newswires last week that they expect to place about $80 million in mortgage loans in the first year and eventually to capture 25% of the market, which is currently dominated by Peru's Banco de Credito, a unit of the Credicorp holding company.

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