WASHINGTON — The Federal Reserve Board on Thursday approved the application of the Lima-based Banco de Credito del Peru to open an agency office in Miami.

Banco de Credito, the oldest and largest banking company in Peru, has $6.4 billion of assets and 220 branches and offices. According to a press release issued by the Fed, the purpose of the Miami office will be to provide “trade-related and other corporate banking services to the bank’s existing international customers,” and to “offer private banking services to individuals and corporations.”

Approximately 90% of Banco de Credito’s stock is owned by Credicorp Ltd., a Bermuda-based holding company. The remainder of the stock is traded on the Lima stock exchange.

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