CREDICORP LTD. Corporate Presentation
May 2024
Corporate Presentation
Our Purpose
Contribute to improving lives by driving the changes that our countries need.
Our Vision
Be a sustainable financial business leader in Latin America, guided by a great purpose, future-oriented and focused on generating superior value for our employees, customers, shareholders and the countries we operate in.
Corporate Presentation
A Leading Financial Services Group in the Andean Region, with Dominant Share in Each of its Businesses in Peru
Lines of
Business
Universal Banking
Microfinance
Insurance and Pensions
Investment Management & Advisory
Corporate
Venture Capital
Subsidiaries | Countries | Market position | 1Q24 Net Income |
in Peru | Contribution 1 | ||
of Operations | |||
#177.5%
Bolivia
#1 | 4.5% |
Colombia
#2 | 15.2% |
seguros
#12 | 2.8% |
Net Income Mar 24 | S/1,512 M |
Total Assets Mar 24 | S/241,171 M |
- %Earnings Contribution based on the total of our 8 main subsidiaries: BCP, BCP Bolivia, Mibanco, Mibanco Colombia, Pacifico Seguros, Prima AFP, Credicorp Capital and ASB Bank Corp. These figures exclude the impact of the goodwill impairment charge registered in the 4Q23. (2) Holds position #1 for Equity transactions, according to BVL information. Also holds position #2 for Fixed income transactions (does not include repo operations). Fixed income data also
includes information from Datatec platform. | 3 |
Corporate Presentation
A Consistent Long-term Strategy and the Ability to Self-disrupt, Adapt and Transform Drives our Strong Performance Through the Cycles
Net Income | Market cap | GDP | |||
(CAGR) | |||||
2000 | 2005 | 2010 | 2015 | 2020 | 2023 |
Dot com Crisis / | Global | El Niño | COVID -19 / |
3 Presidents | |||
Financial Crisis | Phenomenon | 5 Presidents | |
in 2 Years | in 3 Years / | ||
El Niño | |||
Phenomenon |
ROE
Efficiency
Financial Inclusion 2
Digital
Sales 3
2019(5) | 2023 (6) |
17.0% 15.8%
Inc.Disruption
43.6% | 46.1% 1 |
- | 4.1MM 7 |
13.0% 61.0%
2025 (8)
~18%4
~47%4
(Under IFRS17)
43% (Under IFRS4)
6MM
through Yape
70%
(1) Includes Disruption Expenses, which represent 280bps on the Efficiency Ratio (2) Stock of financially included clients through BCP +Yape since 2020 (3) BCP metric (4) Guidance provided at the Digital Day 2022 restated under IFRS17 | |
(5) Under IFRS 4 (6) Under IFRS 17 (7) Stock of financially included clients through BCP since 2020: (i) New clients with savings accounts or affiliated to Yape. (ii) New clients without debt in the financial system or BCP products in the last twelve | |
months. (iii) Clients with 3 monthly average transactions in the last three months. (8) Objectives shared at 2023 Investor Day | 4 |
Corporate Presentation
We are Strengthening and Consolidating Our Core While Building Our Own Disruptors
1
2
3
4
Strengthening Leadership Position of Core Businesses and Operating as a Top Player Leveraging Innovation
Reaching More Clients through a More Digital and Highly Transactional Value Proposition
Efficiently Scaling Our Responsible and
Profitable Microfinance Model
Leveraging Customer Service and Digitalization to Grow in an Expanding Market
Focusing on Our Core and Profitable Businesses
Complementing Our Core Businesses With a Disciplined Innovation Portfolio
Payments
Neobank Model
Acquiring /
SME
Services
InsurTech | Wealth |
Tech | |
Understanding existing and future market needs to constantly review and optimize our business
portfolio with agility and self-disruptive mindset, we constantly compete with ourselves
5
Corporate Presentation
Maintaining Our North Stars As We Navigate the Short-term Environment
We Remain Focused on Achieving
Our Long-Term Ambitions
Customer Experience
Developing new solutions for changing customer needs
Efficiency
More cost-efficient and digital distribution
Growth
Penetrating untapped segments
While We Adapt with Agility through Tactical Decisions to Secure Results
Prudent Risk Management in an uncertain environment
Anticipating Market Risks
Reviewed Risk Appetite
Stringent Origination
6
Corporate Presentation
Why Invest in Credicorp?
1. Prioritizing Leading Market Positions | 2. Diversified, Customer-centric Synergetic |
in an Underpenetrated Region | Organization, Leveraging Cross-sales |
5. Sustainability at the Core of Our
4. Attractive Portfolio Return and | Strategy | 3. Leveraging Digital Talent & Data-Driven |
Resilience Through Economic Cycles | Capabilities to Transform and Disrupt Ourselves |
7
Corporate Presentation
Why Invest in Credicorp?
1. Prioritizing Leading Market Positions | 2. Diversified, Customer-centric Synergetic |
in an Underpenetrated Region | Organization, Leveraging Cross-sales |
5. Sustainability at | ||
the Core of Our | ||
4. Attractive Portfolio Return and | Strategy | 3. Leveraging Digital Talent & Data-Driven |
Resilience Through Economic Cycles | Capabilities to Transform and Disrupt Ourselves |
8
Corporate Presentation
#1 Diversified, Financially Solid & Sustainable Financial Services Group in Peru with Significant Potential Across the Andean Region
Operating in Markets with
Attractive Growth Potential
Domestic Loans as a %GDP1
[Dataas of Mar 24]
41%
41%
53%
86%
(1) Source: Central Banks of each country. Includes private commercial banks (local and foreigners) and public commercial banks.
Leading Market Positions in
Core Segments
Universal Banking | Microfinance | ||||
LATAM | |||||
#1 | #1 | ||||
Loans and Deposits | Assets | ||||
Insurance & | Investment | ||||
Pensions | Banking & Wealth | ||||
Management | |||||
#1 | #2 | #2 | #1 | #2 | #2 |
Life | P&C | Pensions | Equity | Fixed | Fixed |
Income | Income | ||||
Equity |
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Corporate Presentation
BCP is the #1 Bank in Peru with a Leading Position in Every Business Segment and Unparalleled Customer Reach
1Q24 | |
Assets | 183,319 |
(S/Millions) | |
Loans | 115,356 |
(S/Millions) | |
Portfolio Mix1 | 45% |
Wholesale | |
Retail | 55% |
Net Income | 1,264 |
Contribution | 76.3% |
(S/Millions,%) | |
ROE | 24.7% |
Peru is an Attractive Market to Grow with Financial Products
%Cashless/GDP | %Deposits/GDP |
[ 2022 ] | [ 2023 ] |
32 | 41 | |
32 | 2.8X | 42 |
60 | 47 | 1.7X |
88 | 71 |
(1) Measured in Average Daily Balances
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Disclaimer
Credicorp Ltd. published this content on 17 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2024 16:33:09 UTC.
