Banco de la Nación

What Banco de la Nación does

Banco de la Nación is Peru's state-owned commercial bank, established in 1966 and operating under the Ministry of Economy and Finance (Ministerio de Economía y Finanzas). It functions as the primary banker for the Peruvian government, processing payroll and pension disbursements for public sector employees and ONP pensioners, executing tax and tribute collection for entities such as SUNAT, and distributing funds for major social programs including JUNTOS, Pensión 65, Qali Warma, and Cuna Más. Its core product portfolio spans personal loans (Préstamo Multired with TCEA from 11.48% to 17.99%, plus Préstamo Básico, Préstamo Estudios, Préstamo Compra de Deuda, and Préstamo Descuento por Planilla), mortgage credit (up to 90% of property value over 25 years), zero-annual-fee credit cards (Classic, Gold, Platinum), chip-enabled Visa debit cards, savings and current accounts (including Cuenta DNI), insurance distribution (card protection, oncology, funeral/sepelio, and cuota protegida), and money transfer services (Telegiros, LBTR real-time gross settlement, SWIFT international transfers, formerly MoneyGram remittances).

Underlying technology is standard commercial banking infrastructure: App BN mobile banking, MultiRed Virtual internet banking, Págalo.pe payment portal, MultiRed ATMs and agent (corresponsal) network, Visa/Mastercard card networks, SWIFT (code BANCPEPL), the CCE electronic clearing house, and the LBTR real-time gross settlement system for high-value transfers above S/10,000 or US$3,000. The bank's primary AI-adjacent capability is Quina, a virtual advisor deployed on WhatsApp for 24/7 customer inquiries and pre-qualification.

Revenue is generated through net interest income on consumer and mortgage lending to public sector customers, transaction fees on payroll/pension processing (0.40%–0.50% on deposits), tax/tribute collection commissions, fees on LBTR and interbank transfers, interchange and credit card fees, and insurance distribution commissions with partners Pacífico, La Positiva, and BNP Paribas Cardif. Distribution combines the largest physical branch network in Peru with UOB (Única Oferta Bancaria) offices in unserved localities, the MultiRed agent network, and digital channels, serving government entities at the enterprise level and citizens, public sector employees, and pensioners at the retail level.

Name

Banco de la Nación

Legal name

Banco de la Nación

Website

https://bn.com.pe

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Banco de la Nación is Peru's state-owned bank under the Ministry of Economy and Finance, serving government entities, public sector employees, and pensioners through the country's largest branch network, digital channels, and payroll/pension disbursement services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

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

SIC

State Commercial Banks (6022)

akta.pro primary industry

Public Sector Retail Banks (State-Owned Commercial Banks) (FSABAKAL)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Retail Wealth & Bancassurance Distribution (Investment & Insurance via Bank) (FSABAAAJ), Savings Banks (Public/State-Owned) (FSABAKAK)

Keywords

• Retail banking services
• Government banking
• Public sector lending
• Payroll disbursement
• Tax collection services

Headquarters

HQ city

San Borja

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, Supply Chain, Marketing or Sales, Others

Revenue model

1. Net Interest Income - Consumer/Retail Lending: The bank earns interest income from personal loans (Multired Préstamo, Préstamo Básico, Préstamo Estudios, Préstamo Compra de Deuda), credit cards, and mortgage lending (Crédito Hipotecario) extended to public sector employees and pensionists. Interest rates range from approximately 11% to 18% TCEA depending on product type.
2. Credit Card Fees and Commissions: Annual fees, interchange fees from merchants, cash advance fees, and foreign transaction commissions from credit card operations. The bank markets its credit card as having zero annual membership fee.
3. Payroll/Pension Processing Fees: Commissions charged to public and private sector entities for processing payroll (remuneraciones) and pension payments through the bank's extensive network. Commission rates of 0.40% for remunerative deposits and 0.50% for non-remunerative deposits for private sector UOB clients.
4. Insurance Distribution Commission: The bank earns commission income by distributing insurance products including desgravamen (credit life), cuota protegida, seguro oncológico, seguro de sepelio, and seguro protección tarjetas through its branch network. Partners include Pacífico, La Positiva, and BNP Paribas Cardif.
5. Government Tax/Tribute Collection Services: The bank processes payment of taxes and fees (tributos) on behalf of national, regional, and municipal government entities, SUNAT, customs, and various public institutions, earning processing/transaction fees.
6. Domestic Money Transfers (Telegiros) and Remittances: Fees and commissions from domestic wire transfers (telegiros) in national and foreign currency, and international remittances via MoneyGram/PBanco Pichincha partnership.
7. Corporate/Bank Transfer Services (LBTR/Interbancario): Interbank transfer commissions including interbank commission paid to receiving bank plus BN service fee for same-bank and interbank transfers, LBTR fees for high-value settlements.
8. Current/Checking Account Fees (UOB/Sector Público): Account maintenance fees and minimum deposit requirements for savings accounts in UOB locations (only-banking-office areas) and current accounts for government suppliers.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels9 records

Core offering

Banco de la Nación is Peru's state-owned bank providing retail and corporate banking services to public-sector employees, pensioners, government entities, and citizens. Its core offerings include payroll and pension disbursement, personal loans (Multired), mortgage lending, no-fee credit and debit cards, savings and current accounts, government tax/tribute collection, domestic and international money transfers (Telegiros, LBTR, MoneyGram), and distribution of insurance and microfinance products, delivered through the country's largest branch and agent network plus mobile/internet banking channels.

Product overview

Banco de la Nación is Peru's state-owned bank serving citizens, public sector workers, pensionists, and government entities. Its product portfolio is organized around four core pillars: (1) Lending products including Préstamo Multired (personal loans with TCEA from 11.48%), Crédito Hipotecario (mortgages up to 90% financing over 25 years), and Préstamo para Estudios (education loans); (2) Card products including Tarjeta de Crédito BN (no-fee credit cards in Classic/Gold/Platinum) and Tarjeta Débito BN (chip Visa debit); (3) Savings and transaction accounts including UOB savings accounts, public sector savings, and current accounts; and (4) Insurance products (Seguro Protección Tarjeta, Seguro Cuota Protegida, Seguro Oncológico, Seguro de Sepelio). Digital channels include App BN mobile banking, MultiRed Virtual internet banking, and Págalo.pe for government payments. The bank also operates Telegiros money orders, MoneyGram remittances (suspended), LBTR high-value transfers, and specialized programs for microenterprises (PROMYPE). Additional services include Quina virtual advisor via WhatsApp, multi-red agent network, and DNI-linked accounts.

Differentiator

Problem solved

Functional benefit

Brands

• Multired: Digital banking platform including MultiRed Virtual (internet banking) and App BN (mobile banking) for online transactions, transfers, and account management.
• Quina
• Págalo.pe
• Cuenta DNI

Quantifiable outcome

• Loan approval pre-qualification via WhatsApp without visiting a branch
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Banco PichinchacoreStrategic or Co-development PartnerMoneyGram remittance service is implemented through a correspondent banking agreement with Banco Pichincha, enabling BN customers to send and receive international remittances through BN's national branch network. The service was available at BN agencies but has been suspended temporarily since October 1, 2025.
• Pacífico (Insurance Company)coreOthersPacífico is the primary insurance provider for the bank's loan protection products. They underwrite the Seguro de Desgravamen (credit life insurance) for Multired loans, Préstamo Estudios, and credit cards. Premium rates: 0.12% of outstanding loan balance for clients aged 18-84, and 1.33% for clients aged 84+.
• La Positiva (Insurance Company)coreOthersLa Positiva provides the optional Seguro Cuota Protegida (protected payment insurance) for Multired loans, covering installments in case of temporary disability, involuntary unemployment, or hospitalization due to accident. Premium: 1.161% of loan amount charged at disbursement.
• BNP Paribas CardifcoreOthersBNP Paribas Cardif underwrites the Seguro de Sepelio (burial insurance) product offered by BN to cardholders. The insurance covers funeral expenses, repatriation, educational benefits for children, and family assistance services. Customer service for this product is handled through BNP Paribas Cardif.
• La Positiva SegurosminorOthersLa Positiva Seguros handles claims and customer service for the Seguro Protección de Tarjetas BN (card protection insurance), accessible 24/7 at (01) 211-0211.
• SUNARP (Superintendencia Nacional de los Registros Públicos)coreOthersBN works with SUNARP for real estate registration services required for mortgage transactions. The bank processes the blocking of property titles (bloqueo registral) at SUNARP as part of the mortgage loan process.
• VisacoreTechnology or IntegrationBN's debit and credit cards operate on the Visa payment network (and Mastercard for credit cards), enabling domestic and international card transactions at millions of merchants and ATMs worldwide.
• MastercardcoreTechnology or IntegrationBN credit cards operate on the Mastercard network for cash withdrawals at ATMs worldwide, complementing the Visa network for merchant transactions.
• SWIFT (Society for Worldwide Interbank Financial Telecommunication)coreTechnology or IntegrationBN uses the SWIFT network (BANCPEPL code) for international fund transfers, enabling pension transfers abroad for BN's pensionist clients and international remittance services.
• CCE S.A. (Cámara de Compensación Electrónica)coreTechnology or IntegrationBN participates in the CCE electronic clearing house for interbank transfers and credit card payments, enabling deferred interbank transfers and cross-bank bill payment services.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BancoEstado (Chile): Chilean state-owned commercial bank serving as the government banker with a captive public-sector customer base, Cuenta RUT for financial inclusion and a national branch network — the closest international analog to BN's mandate and operating model.
• Banco de Crédito del Perú (BCP): Largest private commercial bank in Peru, directly competing with BN across retail banking, personal/mortgage lending, credit cards, insurance distribution and digital channels; the dominant private benchmark for BN's commercial banking activities in Peru.
• Interbank Peru: Major Peruvian commercial bank competing in retail deposits, personal loans, credit cards and digital banking; comparable in product breadth and customer segments served, with a strong digital and payments platform.
• Banco Pichincha Peru: Peruvian commercial bank with a retail and SME focus and a strong remittance/c correspondent franchise; also BN's current correspondent partner for MoneyGram, making it a directly comparable competitor with overlapping customer segments.
• BBVA Peru: Spanish-owned commercial bank with a broad Peruvian retail and SME franchise, offering deposits, lending, cards, insurance and digital channels — directly overlapping with BN's retail and government-banking services.
• Mibanco Peru: Leading Peruvian microfinance and small-business bank, comparable to BN's PROMYPE program; competes for the same micro-entrepreneur and small-business segments BN targets under its financial-inclusion mandate.
• Scotiabank Peru: Large commercial bank with a full-service retail and SME offering in Peru, including payroll lending, mortgages and credit cards — directly competing with BN for personal-banking customers.

Regional players

• Banco Agrario de Colombia: Colombian state-owned commercial bank providing banking services to rural areas, agriculture and public-sector workers — directly analogous to BN's state-mandated rural and government-banking role but in a different geography.
• Banco de México / Banobras: Mexican state-owned development bank financing public infrastructure and state/municipal governments — a comparable state-mandated public-banking institution serving government entities, though development-focused rather than retail.

Others

• Banco de la República (Colombia): Colombia's central bank; included as ecosystem context rather than a competitor — illustrates the institutional banking landscape BN operates within, but does not directly compete with BN's commercial activities.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BancodelaNacion
• YouTubeyoutube.com/user/BNPeru
• Facebookfacebook.com/BancoDeLaNacion
• LinkedInpe.linkedin.com/company/bancodelanacionperu
• Instagraminstagram.com/bancodelanacionperu
• TikToktiktok.com/@bancodelanacionperu

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&A

Investments

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

Frequently asked questions about Banco de la Nación