By Brazil Stock Guide – Banco BTG Pactual SA (BPAC11) received a license to operate as a bank in Peru, expanding the Brazilian financial group’s presence in a market where it has operated for more than 14 years. The authorization allows the firm to move into the final preparation stage before launching the new operation. BTG’s units are traded on Brazil’s B3 under the BPAC11 ticker.
Peru’s Superintendency of Banking, Insurance and Private Pension Fund Administrators, known as SBS, granted the operating license to Banco BTG Pactual Perú S.A., according to a statement released by BTG on Sept. 29.
The new bank will have initial capital of $100 million and will focus on corporate clients, large companies and institutional investors. The operation will broaden the financial services BTG already offers in Peru.
The authorization concludes a regulatory process that began in July 2025, when BTG started procedures to establish a banking institution in the country.
Broader product offering
BTG already operates investment banking, brokerage and asset-management businesses in Peru. The banking license will allow the group to expand its corporate banking, treasury and investment-banking services.
Chief Executive Officer Roberto Sallouti said the move is part of the firm’s strategy to deepen its footprint across Latin America.
“We are deepening our presence in Latin America, and the license to operate a bank in Peru represents another step in that strategy,” Sallouti said. “This move reinforces our long-term commitment to the country and is part of a trajectory that has been built over the years, with advances in technology, new products and services, and expansion into new geographies.”
Sallouti said the expansion will allow BTG to offer clients a more comprehensive platform combining local expertise, technology and the group’s regional scale.
Latin America expansion
The Peru bank is part of BTG’s broader international expansion strategy. The firm has operations across the Americas, Europe and Asia and has increased its presence in the Americas in recent years.
BTG has expanded its operations in Uruguay while also growing its US presence. The Peru banking business adds to those initiatives by widening the range of products and services the group can provide in the region.
The BPAC11 units consist of one common share and two Class A preferred shares of Banco BTG Pactual, according to the company’s investor-relations website.
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