OECD Corporate Governance Factbook 2025: Peru
Table of contents
This Country Note consolidates information published in the 2025 edition of the OECD Corporate Governance Factbook. Along with the summary of recent developments, it provides an overview of Peru’s corporate governance framework and related information benchmarked against 51 other jurisdictions covered by the Factbook, including all OECD and G20 members.
The information in this document is as of 31 December 2024 unless otherwise specified.
For further details, please refer to the OECD Corporate Governance Factbook 2025.
With the support of the International Finance Corporation (IFC) and Procapitales (Association of Capital Market Promotion Companies), PwC is conducting a consultancy to update the Code of Good Corporate Governance for Peruvian Companies (2013). In June 2025, the first part of the consultancy was completed: review of international standards and preparation of an initial proposal, which includes a Sustainability pillar.
Discussion of this proposal is expected to begin in working groups with the participation of private and public entities (Peruvian Capital Market Advisory Council and invited participants). A consensus proposal is expected to be submitted to the Superintendence of Securities Market (SMV) in December 2025.
The SMV recently released a draft amendment to the public takeover offer regulation, which aims to design a regulatory framework that establishes a more effective and transparent takeover offer procedure, which in turn strengthens investor protection and market transparency. It also considers the priority recommendations of the OECD Corporate Governance Committee within the framework of Peru's accession to that Organisation.
The responsibility of Board members to express their support for or opposition to the offer has been specified, including their opinion on the reasonableness of the price, among other adjustments to administrative procedures related to such offers and information requirements. These adjustments have been proposed based on the case studies presented in our market in recent years, as well as comparative legislation from other markets, such as Chile, Colombia and Spain.
|
No. of listed companies in Dec 2024 |
Change since Dec 2021 |
Market capitalisation in Dec 2024 |
Ratio to GDP |
||
|---|---|---|---|---|---|
|
Peru |
261 |
|
4.8% |
USD 85 bn |
29.4% |
|
OECD members |
21 618 |
|
4.3% |
USD 92 518 bn |
136.5% |
|
World |
46 086 |
|
11.3% |
USD 124 536 bn |
112.7% |
Note: “World” covers 98 jurisdictions. “OECD members” covers 38 countries.
Source: OECD Capital Market Series Dataset. IMF.
Note: “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
Note: The share of companies in each jurisdiction where the single largest shareholder and the three largest shareholders own more than 50% of the company’s equity capital. “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
The categories that the jurisdiction fits into are highlighted in blue.
The bold numbers and words indicate country-specific additional information.
The numbers within parentheses indicate the number of jurisdictions applicable to each category.
For further information on the methodologies used for the categorisations, please see the OECD Corporate Governance Factbook 2025.
* Some jurisdictions belong to multiple categories because of the additional requirements other than a percentage of shareholding.
* Jurisdictions where mandatory takeover bid rules exist are included.
** Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.