Overview
- Banco Pichincha received formal authorization from the Superintendencia de Banca, Seguros y AFP under Resolución SBS 02290-2026, a decision the bank disclosed to the Superintendencia del Mercado de Valores.
- The bank will pay S/23,474,937 for up to 100% of Diners Club Perú after board votes that began with a January 20, 2026 approval and were expanded on May 26, 2026.
- The SBS found that Banco Pichincha submitted the documentation required to form a subsidiary under Peru’s Ley General del Sistema Financiero (Ley N.° 26702), which permits banks to own firms that provide payment and card services.
- The regulator’s resolution does not specify changes to the Diners Club brand, customer products, or card terms, so concrete operational and customer-facing changes remain pending and unannounced.
- By making Diners Club a bank subsidiary, Banco Pichincha could consolidate card issuance and payment processing in the near term, so customers, merchants and market watchers should expect further regulatory filings and communications about product or fee changes.