Banco Wiese Overview and History

Banco Wiese is a Brazilian bank with a rich history that dates back to 1905. It was founded by a group of entrepreneurs who shared a vision of providing financial services to the community.

The bank's name, Wiese, is derived from the surname of one of its founders, which is a testament to its humble beginnings. Banco Wiese has since grown to become a major player in the Brazilian banking industry.

Banco Wiese has its headquarters in São Paulo, Brazil, and operates through a network of branches across the country. Its commitment to providing excellent customer service has earned it a reputation as a trusted and reliable financial institution.

Banco Wiese was founded by a group of Peruvian entrepreneurs led by Augusto N. Wiese on March 1, 1943.

Its first headquarters was located in the Miró Quesada street of Lima's city center and was part of the Wiese Group. Banco Wiese operated exclusively in Lima until the 1990s.

It expanded to other Peruvian cities in the early 1990s, becoming the second-largest bank in the Peruvian financial system.

The bank's main office was inaugurated on December 6, 1963, on Emancipación Avenue between Lampa and Carabaya streets in Lima's city center, with the then-President of Peru Fernando Belaúnde Terry in attendance.

Banco Wiese was the first Peruvian bank to list its shares on the New York and London stock exchanges in 1994.

In 1998, Banco Wiese merged with Banco de Lima Sudameris to form Banco Wiese Sudameris, which ceased to exist in 2006.

The bank's "Creceahorro" strategy, launched in 2003, was criticized in 2004 for including clauses considered abusive.

Despite attempts to deny its bankruptcy, Banco Wiese Sudameris was acquired by the Canadian Scotiabank in 2005, and in 2006, both Banco Wiese and Banco Sudamericano were integrated under the Scotiabank Perú brand.