About

A landmark moment for the Peruvian banking sector occurred in 2013 when China’s largest commercial bank, Industrial and Commercial Bank of China (ICBC), gained a foothold in the market by opening its first subsidiary in the country. The staff of ICBC Perú Bank have been hand-picked to successfully establish the company in Peru, with legal manager Miguel Angel Raygada Castillo an example of this. A financial legal expert, Raygada has practiced at a number of prominent financial institutions and banks since the turn of the 21st century. From 2001, he practiced as an in-house lawyer with Interbank, Bank of the Nation, Banbif, and Banco de Crédito del Perú, and also enjoyed a spell as head of legal advice in a Peruvian university. Among other projects, ICBC Perú recently was co-arranger in the $500m deal to expand the Marcona Iron processing plant of Shougang, as part of a long term strategic commitment to expanding and diversifying the Peruvian economy.