CREDICORP Business Summary

Credicorp Ltd. (BAP) operates as the dominant financial services holding company in Peru, generating revenue through a diversified mix of net interest income from lending, transaction-based fees, insurance premiums, and asset management commissions. The company is organized into four primary business segments: Universal Banking, led by its flagship subsidiary Banco de Crédito del Perú (BCP); Microfinance, through Mibanco; Insurance & Pension Funds, via Grupo Pacífico and Prima AFP; and Investment Management & Advisory, through Credicorp Capital. As of early 2026, the firm is aggressively monetizing its digital ecosystem, spearheaded by the Yape super-app, which aims to contribute 10% of risk-adjusted revenues. Credicorp maintains a commanding market lead in Peru with over 30% share in loans and deposits, positioning itself as the primary regional incumbent against direct competitors such as BBVA Perú, Intercorp Financial Services (Interbank), and Scotiabank Perú. Originally incorporated in 1995 to consolidate the interests of the Romero family, the company is currently led by Executive Chairman Luis Enrique Romero Belismelis and CEO Gianfranco Ferrari, a 30-year veteran of the group with an MBA from Kellogg. The executive suite includes CFO Alejandro Pérez-Reyes (Harvard MBA), CTO André Rezende, and Chief Strategy Officer Michelle Labarthe, formerly of Lazard and Rothschild & Co. The leadership team is supported by a high-pedigree board featuring independent directors such as Alexandre Gouvêa, a former McKinsey & Co. senior partner, and Patricia Lizárraga, an experienced Wall Street investment banker. This seasoned management team has successfully decoupled the firm’s growth from Peru’s macroeconomic cycles, maintaining a sustainable Return on Equity (ROE) target of approximately 19.5% for the 2026 fiscal year.