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Credicorp LTD - BAP STOCK NEWS

Welcome to our dedicated page for Credicorp news (Ticker: BAP), a resource for investors and traders seeking the latest updates and insights on Credicorp stock.

Credicorp Ltd is a leading financial services company based in Peru, operating primarily in four main business segments: Universal Banking, Insurance and Pensions, Microfinance, and Investment Management & Advisory. As a major player in the financial sector, Credicorp Ltd aims to foster economic growth in the region through its diversified services and robust business model.

Universal Banking: Credicorp's most significant subsidiary, Banco de Credito del Peru (BCP), is a cornerstone of the company's operations. BCP offers a comprehensive range of financial products and services including retail banking, corporate banking, and treasury services. With a vast network of branches and ATMs, BCP serves millions of customers nationwide.

Insurance and Pensions: Through its subsidiary Prima AFP, Credicorp provides insurance and pension fund management services. Prima AFP is one of the largest pension fund administrators in Peru, ensuring financial security and stability for its clients through well-managed pension schemes.

Microfinance: Credicorp also addresses the financial needs of small and medium-sized enterprises (SMEs) through its microfinance services. By extending credit to underserved communities, Credicorp helps promote entrepreneurship and economic development at the grassroots level.

Investment Management & Advisory: With Credicorp Capital, the company offers investment banking services such as asset management, brokerage, and financial advisory. Credicorp Capital supports both individual and institutional investors in making informed investment decisions to maximize returns.

Recent Achievements and Updates: Credicorp Ltd continues to be at the forefront of financial innovation and customer service excellence. Recently, the company announced a series of webcast presentations to provide stakeholders with updates on financial performance and strategic initiatives. These webcasts are open to both national and international participants, ensuring transparency and engagement with the global investment community.

For more information about upcoming events and investor relations, please visit the official webcast registration page or contact the Investor Relations team at investorrelations@credicorpperu.com.

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Credicorp hosted its 2024 Strategic Update, highlighting growth initiatives driven by innovation and a positive outlook. The company remains on track to achieve a sustainable 18% ROE target despite challenging macroeconomic conditions. Key points include:

1. BCP achieved a 23.7% ROE in the first half of the year.
2. Yape reached break-even in May, earlier than forecasted.
3. The company aims to generate 10% of risk-adjusted revenues from new business models by 2026.
4. Innovation strategy focuses on market penetration, expanding TAM, and accelerating key capabilities adoption.
5. Investment in disruption is to 150 basis points of Credicorp's ROE and 350 basis points of Cost-to-Income per year.

Yape's 2026 aspirations include 16.5 million active users and S/ 600 billion in annual transactions. The company maintains a disciplined approach to growth, aligning with strategic objectives and prudent financial management.

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Credicorp (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru, has announced a special cash dividend of S/11.0000 per share, totaling S/1,038,205,487.00. The dividend will be paid on October 18, 2024, to shareholders of record on September 23, 2024. Payment will be made in US Dollars, using the exchange rate as of October 16, 2024.

CEO Gianfranco Ferrari emphasized that this dividend reflects the company's strong balance sheet and progress in strategic initiatives, including investments in innovation and digital capabilities. Credicorp aims to be a sustainable business leader in Latin America, creating value for stakeholders across its operating countries.

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Credicorp (NYSE: BAP | BVL: BAP) has announced corrections to four ratios in its 2Q24 Earnings Materials due to miscalculations in certain accumulated performance indicators. The corrections are as follows:

  • 1H24 ROE: from 17.2% to 17.6%
  • 1H24 Funding cost: from 3.16% to 2.90%
  • 1H24 Operating expenses / Total average assets: from 7.4% to 3.7%
  • 1H23 Operating Expenses / Total average assets: from 7.1% to 3.5%

Credicorp emphasizes that these corrections do not affect the company's reported IFRS financial results or its full-year 2024 guidance announced on August 8, 2024. The company will update its quarterly materials to reflect these changes.

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Credicorp (BAP) has announced the release of its 2Q24 Earnings Report, scheduled for August 8th, 2024, after market close. The company will host a webcast/conference call to discuss the results on August 9th, 2024, at 10:30 a.m. ET. Key executives, including CEO Gianfranco Ferrari and CFO Alejandro Perez Reyes, will lead the call. Participants are encouraged to pre-register for the webcast using the provided link. For those unable to pre-register, dial-in options are available. The webcast will be archived for one year on Credicorp's investor relations website.

Additionally, Credicorp reminds investors that its 2023 Annual Report on Form 20-F was filed with the SEC on April 24th, 2024. The report includes audited consolidated financial statements for 2021, 2022, and 2023 under IFRS and can be downloaded from the company's website.

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Credicorp (NYSE: BAP) has announced the start of its quiet period for the 2Q24 earnings release. The quiet period will begin on July 25th, 2024, and conclude on August 8th, 2024, which is the date of the earnings release. This measure is in line with Credicorp's corporate disclosure policies and aims to prevent leaks of financial results and ensure fairness in information dissemination. During this period, the company will refrain from disclosing any financial information, commenting on financial results, or responding to related questions.

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Credicorp (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru, announces its 2024 Strategic Update on September 26th, 2024, in Lima, Peru. The event will focus on the company's innovation strategy and disruption initiatives, highlighting:

1. Disciplined governance for allocating resources to innovation
2. Building new capabilities for long-term sustainable growth
3. Key success stories shaping the innovation ecosystem

The event will feature a live webcast from 2:00 pm to 2:30 pm ET, including presentations by CEO Gianfranco Ferrari, CINO Francesca Raffo, and a Fireside Chat with Yape CEO Raimundo Morales and Krealo CEO Adolfo Vinatea. CFO Alejandro Pérez-Reyes Zarak will participate in the Q&A session. Registration is open to the investment community at www.credicorpupdate.com.

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Credicorp : Credicorp’s Earnings Release and Conference Call 1Q24

Credicorp announces its 1Q24 Earnings Release Report will be released on May 9th, 2024, with a Webcast/Conference Call on May 10th, 2024. Key speakers include CEO Gianfranco Ferrari and CFO Cesar Rios. Participants can pre-register for the webcast using the provided link.

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Credicorp announces a 40% increase in its annual dividend to S/35.0 per share, reflecting strong financial performance and growth prospects.
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Credicorp (NYSE: BAP) has initiated the quiet period for its 1Q24 earnings release, starting from April 25th and ending on May 9th, to prevent leaks and ensure fairness.
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Credicorp Ltd. announces the release of its 4Q23 Earnings Report on February 8th, 2024, followed by a webcast on February 9th, 2024. The call will be hosted by top executives including the CEO, CFO, and other key officers. Participants are encouraged to pre-register for the webcast. The company also reminds shareholders of the availability of its 2022 Form 20-F on its website.
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FAQ

What is the current stock price of Credicorp (BAP)?

The current stock price of Credicorp (BAP) is $181.74 as of October 9, 2024.

What is the market cap of Credicorp (BAP)?

The market cap of Credicorp (BAP) is approximately 14.4B.

What are the main business segments of Credicorp Ltd?

Credicorp Ltd operates in four main segments: Universal Banking, Insurance and Pensions, Microfinance, and Investment Management & Advisory.

Who are some of Credicorp Ltd's subsidiaries?

Credicorp Ltd's subsidiaries include Banco de Credito del Peru, Prima AFP, and Credicorp Capital.

What services does Banco de Credito del Peru offer?

Banco de Credito del Peru offers retail banking, corporate banking, and treasury services.

How does Prima AFP contribute to Credicorp Ltd's operations?

Prima AFP provides insurance and pension fund management services, managing some of the largest pension funds in Peru.

What role does microfinance play in Credicorp Ltd's business strategy?

Microfinance helps Credicorp Ltd support small and medium-sized enterprises (SMEs) by providing necessary credit to foster economic growth.

What type of services does Credicorp Capital offer?

Credicorp Capital offers investment banking services including asset management, brokerage, and financial advisory.

How does Credicorp Ltd engage with its investors?

Credicorp Ltd engages with investors through regular webcasts, presentations, and direct communication via its Investor Relations team.

Where can I find more information about Credicorp Ltd's upcoming events?

Information about upcoming events can be found on the official webcast registration page or by contacting the Investor Relations team.

What is the main focus of Credicorp Ltd's Universal Banking segment?

The main focus is providing a comprehensive range of financial products and services to both retail and corporate clients.

How can I contact Credicorp Ltd's Investor Relations team?

You can contact the Investor Relations team via email at investorrelations@credicorpperu.com.

Credicorp LTD

NYSE:BAP

BAP Rankings

BAP Stock Data

14.44B
79.47M
34.5%
75.67%
1.12%
Banks - Regional
Financial Services
Link
United States of America
Lima