United States

Profile: Credicorp Ltd (BAP)

BAP on New York Consolidated

23 Apr 2018
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Credicorp Ltd. (Credicorp), incorporated on August 17, 1995, is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. The Company's principal operating subsidiaries include Banco de Credito del Peru (BCP); Atlantic Security Bank (ASB), which it holds through Atlantic Security Holding Corporation (ASHC); El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP S.A., and Credicorp Capital Ltd. (Credicorp Capital).


The Company's banking business is principally focused on commercial and consumer loans, credit facilities, deposits, current accounts and credit cards. The Company conducts its banking business primarily through BCP, a full-service Peruvian commercial bank, and its ASB private banking and asset management firm. Its banking business is carried out through BCP which, together with Edyficar Peru S.A. (Edyficar) and Mibanco, Banco de la Microempresa S.A. (Mibanco). A portion of the Company's banking business is also carried out by ASB, which principally serves Peruvian private banking customers through offices in Panama. The Company conducts banking activities in Bolivia through Banco de Credito de Bolivia (BCP Bolivia), a full service commercial bank.

The Company's banking business, in terms of lending and investment, is organized into wholesale banking activities, which includes its corporate and middle-market banking business segments, which are carried out by BCP's Wholesale Banking Group (WBG); retail banking activities, including its small and medium enterprise (SME)-Business, small and medium enterprise-Pequena y microempresa or small and micro enterprise (SME-Pyme), mortgage, consumer financing, credit card and wealth management segments, which are carried out by BCP's Retail Banking & Wealth Management Group (RB&WM); treasury activities, including money market trades, foreign exchange trading, derivatives and proprietary trading; microlending, which is conducted through Edyficar and Mibanco; wholesale and retail banking activities in Bolivia, and private banking, asset management and proprietary investment activities, which it performs through ASB. The Company's deposit-taking operations are principally managed by BCP's RB&WM group and ASB's private banking group.


The Company conducts its insurance business through Grupo Pacifico, which is a Peruvian insurance company. Its subsidiary provides a range of insurance products. Grupo Pacifico focuses on the business areas, including property and casualty (P&C) insurance through Pacifico Seguros Generales, life and pension insurance through Pacifico Vida, and health insurance through Pacifico Entidad Prestadora de Salud (Pacifico EPS), which also conducts private hospital operations. Grupo Pacifico sells its products both directly and through independent brokers, agents, banking channels and sponsors.

Pension funds

The Company conducts all of its pension fund activities through its private pension fund administrator Prima AFP S.A. It also provides services and information to its clients.

Investment Banking

The Company's investment banking business units are grouped under Credicorp Capital, which carries out its operations in the region through Credicorp Capital Peru, Credicorp Capital Colombia and IM Trust S.A. (IM Trust). Through these entities the Company performs its operations in three business lines, such as asset management, which through the regional platform provided by the Mercado Integrado Latinoamericano (MILA), offers an array of products, including mutual, investment and alternative funds, as well as structured, cross-border and offshore initiatives to a base of clients, including clients in its retail, private and high net worth, corporate and institutional segments; sales and trading, which through the regional investment banking platform has an active role in secondary markets, particularly equity and fixed income products, as well as exchange rate products and derivatives, and corporate finance, which provides advisory services to structure mid- and long-term financing, and structure and place equity and fixed income instruments in capital markets, and also offers a range of financial advisory services and advisory services for mergers and acquisitions.

The Company competes with Itau Unibanco, Banco Latinoamericano de Comercio Exterior, Morgan Stanley Bank, Bank of Tokyo Mitsubishi UFJ, Sumitomo Mitsui Banking, ICBC Group, GNB Sudameris Group, Financiera Confianza, Financiera Credinka, Banco Azteca, Deutsche Bank, Banco Santander, Banco Cencosud, ICBC Bank Peru, CMAC Arequipa Financiera, Banco de la Nacion, COFIDE, Banco Agropecuario, BBVA Banco Continental, Scotiabank Peru, Interbank, Banco Interamericano de Finanzas, and Pacifico Seguros Generales and Pacifico Vida.

Company Address

Credicorp Ltd

Clarendon House, 2 Church Street
P.O. Box Hm
P: +511.3132140
F: +511.3132121

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