Fitch Positive on Peru Banks

Fitch has revised to positive from stable the outlook on the ratings of Peru’s Banco Continental and Scotiabank. The brightened outlook for both banks is a result of the revision of the outlook for the sovereign, changed to positive from stable. Scotiabank, rated BBB, is Peru’s third largest bank, with a 16% market share. Continental, also rated BBB, is the country’s second largest bank, with a 23% market share.