Scotiabank Perú

What Scotiabank Perú does

Scotiabank Perú S.A.A. (RUC N° 20100043140) is a Peruvian commercial bank and wholly-owned subsidiary of The Bank of Nova Scotia (Scotiabank Group), Canada's third-largest bank. Operating from its headquarters in San Isidro, Lima, it serves individual consumers, SMEs (PyMEs), and corporate clients across Peru through a hybrid physical-and-digital distribution model — branches, ATMs, multifunction machines, banking agents, mobile app, web banking, and a 24/7 phone banking (Telebanco) channel. Its product portfolio spans six savings account variants (including Cuenta Digital for digital onboarding and Cuenta Power yielding up to 4.6% TREA), credit and debit cards in Mastercard and Visa networks, personal loans, mortgages (including the Mi Vivienda government-backed program), vehicle financing, mutual funds, brokerage via Scotia Bolsa, and insurance distribution in partnership with Cardif.

The business is organized into three segments — Personal Banking (Personas), SME/Entrepreneur (Negocios/PYMEs), and Large Corporate (Grandes Empresas) — plus a Singular premium banking proposition and a Wealth Management unit. Digital infrastructure has been extended with Apple Pay and Google Pay integration, QR payments, biometric authentication, dynamic CVV, push notifications, and Plin interbank instant transfers. Corporate clients access a full trade finance stack — letters of credit, factoring (electronic and physical), leasing (vehicular, machinery, real estate, leaseback), bank guarantees (cartas fianza), and the TradeXpress online platform for managing cross-border operations.

Scotiabank Perú makes money primarily through net interest income on loans and mortgages, account and transaction fees, credit card interchange and interest, insurance and investment product commissions (Cardif, Fondos Mutuos, Scotia Bolsa), and trade-related fees. The customer base is broad-based retail and SME, anchored further by government-facing relationships including the ONPE electoral payments program reaching over 270,000 polling station members. Brand recognition, multi-channel reach, and the parent's capital backing form the basis of its competitive position in the Peruvian market.

Name

Scotiabank Perú

Legal name

Scotiabank Perú S.A.A.

Website

https://scotiabank.com.pe

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Scotiabank Perú is a Lima-based commercial bank, wholly-owned subsidiary of Scotiabank (Bank of Nova Scotia), serving retail consumers, SMEs, and corporate clients in Peru through branches, digital channels, and an extensive agent network, offering deposits, cards, loans, mortgages, insurance, investments, and trade finance.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Credit Card Issuing (52221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Consumer & Retail (CPG, Food, Apparel) (FSABACAM), Business / Corporate Credit Cards (FSAKABAF), Import & Buyer Finance (Import Loans, Trade Loans) (FSABAHAH)

Keywords

• Retail banking services
• Commercial banking
• Consumer lending
• Wealth management
• Digital banking

Headquarters

HQ city

Lima

HQ country

Peru

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income: Traditional banking revenue from interest earned on loans, mortgages, and credit products. Interest is charged on lending products while earned on deposits.
2. Account and Transaction Fees: Fees charged for account maintenance, ATM withdrawals, wire transfers, and other banking transactions.
3. Insurance and Investment Commissions: Commission revenue from selling insurance products through partnerships (e.g., Cardif for ScotiaCombos) and investment products.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels8 records

Core offering

Scotiabank Perú is a full-service commercial bank offering deposit accounts, credit and debit cards, personal/business loans, mortgages, mutual funds, stock brokerage, insurance, factoring, leasing, letters of credit, and foreign trade services to Peruvian consumers, SMEs, and large corporations. Distribution spans physical branches, ATMs, multifunction machines, banking agents, plus mobile, web, and telephone banking channels.

Product overview

Scotiabank Perú operates as a comprehensive financial services platform organized into three main segments: Personal Banking (Personas), Business Banking (PYME/Negocios), and Corporate Banking (Empresas). The personal banking suite centers on multiple savings account variants—Cuenta Digital, Cuenta Sueldo, Cuenta Power, Cuenta Meta, Cuenta en Dólares, and Cuenta CTS—complemented by credit products including Préstamo Personal, Crédito Hipotecario, Crédito Vehicular, and Mi Vivienda. The card portfolio comprises Tarjeta de Crédito and Tarjeta de Débito in Mastercard and Visa variants, enhanced by loyalty program ScotiaRewards and benefits program ScotiaCombos. Digital channels include App Scotiabank, Banca por Internet, and Telebanking, supported by security features like Clave Digital and Reconocimiento Biométrico. The business segment serves SMEs and entrepreneurs with working capital lines (Línea de Capital de Trabajo PYME), factoring services (Factoring Electrónico and Factoring Físico), leasing options (Leasing Vehicular, Maquinarias, and Inmobiliario), and corporate cards (Tarjeta Business Mastercard and Tarjeta Corporate Visa). International trade operations are managed through TradeXpress platform. Insurance offerings span credit life, vehicle, health, and accident coverage, while investment products include Fondos Mutuos and Scotia Bolsa.

Differentiator

Problem solved

Functional benefit

Brands

• ScotiaCombos: A savings program requiring Cuenta Power plus Cuenta Sueldo or Cuenta Digital, offering preferential TREA rates, restaurant discounts, sweepstakes entries, and ScotiaPuntos accumulation.
• ScotiaRewards
• Plin
• Singular
• Scotia Bursátil / Scotia Bolsa
• ScotiaCard Empresas

Products and services

• Cuenta Digital Zero-maintenance digital savings account accessible via mobile app and web, designed for new customers to perform banking operations digitally.
• Cuenta Sueldo Salary account for receiving employer payroll payments, with access to ScotiaCombos benefits when paired with Cuenta Power.
• Cuenta Power High-yield savings account offering tiered TREA interest rates up to 4.6%, with enhanced benefits through ScotiaCombos including raffle entries and restaurant discounts.
• Cuenta Meta Goal-based savings account designed to help customers save toward specific financial objectives.
• Cuenta en Dólares US dollar-denominated savings account for customers seeking to hold or save in foreign currency.
• Cuenta CTS Compensación por Tiempo de Servicios account for depositing employee severance pay per Peruvian labor law.
• Tarjeta de Crédito Scotiabank Credit card available in Mastercard and Visa variants, offering benefits including up to 20,000 ScotiaPoints welcome bonus, interest-free installments, and access to promotions.
• Tarjeta de Débito Debit card linked to savings accounts, available in Mastercard Gold, Visa Premium, and Mastercard Premium variants, enabling ATM withdrawals and purchases.
• Préstamo Personal Personal loan for financing various consumer needs, available to existing Scotiabank customers with competitive interest rates.
• Crédito Hipotecario Mortgage loan for purchasing real estate, with flexible terms and competitive rates for home acquisition.
• Crédito Vehicular Vehicle financing loan for purchasing new or used automobiles, with disbursement directly to dealerships.
• Depósito a Plazo Digital Digital term deposit product with guaranteed returns over a fixed period, offering competitive TREA rates.
• Fondos Mutuos Mutual funds investment product managed by Scotiabank specialists, allowing investment starting from $100 with global backing.
• Scotia Bolsa Stock market investment platform for trading securities in the Peruvian market.
• App Scotiabank Mobile banking application for iOS and Android enabling account management, transfers, payments, and investment access.
• Banca por Internet Web-based online banking platform for managing accounts, performing transactions, and accessing financial services.
• Telebanking Telephone banking service for customer service and transactions, available 24/7 for card blocking and inquiries.
• Línea de Capital de Trabajo PYME Working capital credit line for small businesses with up to 60-day grace periods, competitive rates, and immediate fund availability.
• Tarjeta de Crédito CAPO Capital for Opportunities credit card designed for small businesses to finance operations and purchases.
• Activo Fijo Fixed asset financing loan for businesses to acquire equipment, machinery, or other long-term assets.
• Factoring Electrónico Electronic invoice factoring service allowing businesses to receive immediate cash by selling receivables.
• Factoring Físico Physical invoice factoring for businesses with traditional paper-based receivables processing.
• Leasing Vehicular Vehicle leasing for businesses with options to acquire ownership at lease end.
• Leasing Inmobiliario Real estate leasing for businesses requiring commercial or industrial space.
• Leaseback Sale-leaseback financing allowing businesses to sell assets for immediate cash while continuing to use them.
• Cartas Fianza Bank guarantee letters for business contracts and international trade operations.
• Tarjeta Business Mastercard Business credit card in Mastercard network for corporate expense management.
• Tarjeta Corporate Visa Corporate Visa card for business travel and operational expenses.
• TradeXpress Online platform for managing foreign trade operations including letters of credit, standby credits, export and import collections, and financing requests.
• Carta de Crédito Exportación Export letter of credit service for international trade transactions.
• Carta de Crédito Importación Import letter of credit for financing and guaranteeing international purchases.

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• ONPE (Oficina Nacional de Procesos Electorales)coreGTM or Marketing PartnerScotiabank Perú is one of five banking partners (alongside Banco de la Nación, Banco de Crédito del Perú, BBVA, and YAPE) authorized to distribute payments to electoral officials during national elections. The bank enables payment services for over 270,000 polling station members participating in electoral processes, providing a critical government services function and expanding its customer base.
• CardifStrategic or Co-development PartnerCardif serves as the insurance partner for Scotiabank Perú's ScotiaCombos product line, providing credit protection and insurance products that are packaged with banking products. This partnership enables the bank to offer integrated insurance solutions to its customer base, generating commission revenue for Scotiabank while providingCardif distribution through the bank's extensive branch and digital network.
• Scotiabank (Bank of Nova Scotia)flagshipOthersScotiabank Perú is a subsidiary of Scotiabank (Bank of Nova Scotia), Canada's third-largest bank by assets and deposits. The parent company provides strategic direction, brand, capital, technology platforms, and operational support to its Peruvian subsidiary, enabling access to global banking expertise and resources.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Direct peers

• Banco Santander Perú: Subsidiary of Spanish banking group Santander; competes in retail and corporate banking with similar product breadth including credit cards, mortgages, and trade finance.
• Banco Pichincha Perú: Subsidiary of Ecuadorian bank; competes in retail deposits, microfinance, and SME lending in Peru, with similar multi-channel strategy including agents and digital banking.
• Banco de Crédito del Perú (BCP): Peru's largest commercial bank by assets, offering the same retail, SME, and corporate product suite as Scotiabank Perú including deposits, cards, mortgages, and trade finance — the most direct domestic competitor.
• BBVA Perú: Subsidiary of Spanish banking group BBVA; competes head-to-head in retail deposits, credit cards, PYME lending, and digital banking — and is a Plin interbank partner with Scotiabank.
• Interbank: Major Peruvian commercial bank with comparable retail, SME, and corporate offerings; direct competitor in consumer credit cards, mortgages, and digital wallets, and Plin interbank partner.
• BanBif: Peruvian commercial bank part of the IF group; competes in retail deposits, consumer credit, and corporate banking, and participates in the Plin interbank transfer network with Scotiabank.
• Itaú Perú: Subsidiary of Brazilian banking group Itaú Unibanco; competes in retail banking, credit cards, and corporate banking — directly comparable as a foreign-bank subsidiary operating in Peru.

Broad incumbents

• Banco de la Nación: Peruvian state-owned commercial bank; largest in branch network and dominant in government payment distribution — competing with Scotiabank for government payroll and Juntos-style social program disbursements.
• Scotiabank Group (Bank of Nova Scotia): Parent entity and Canadian banking giant; provides the global platform, brand, and technology backbone for Scotiabank Perú and benchmarks the parent's broader Canadian and Latin American banking operations.

Emerging players

• Yape: Peruvian mobile wallet operated by BCP with broad merchant and P2P payment penetration; competes for digital payment primary-relationship status and interbank transfer volume alongside Scotiabank's Plin integration.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/scotiabank-peru

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Scotiabank Perú