Credicorp Ltd.: Credicorp Announces Director Nominees for the 2026 Annual General Meeting of Shareholders
Rhea-AI Summary
Credicorp (NYSE:BAP) announced Board nominees for the 2026 Annual General Meeting on March 31, 2026 as a pure virtual meeting. The Board will propose three new directors—María Inés Álvarez, Juan Paredes Manrique and Manuel Romero Valdez—succeeding three retiring directors.
The nomination process emphasized technology, AI oversight, financial/regulatory governance and continuity. The Audit Committee will remain fully independent with a financial expert. Women will represent one-third of the Board. The Board also approved an updated dividend policy maintaining a minimum 25% payout of consolidated net profits aligned with regulatory capital.
Positive
- Three new directors nominated effective March 31, 2026
- Dividend policy maintains minimum 25% consolidated net profits payout
- Audit Committee to remain fully independent with a financial expert
- Board skills refresh adds AI, technology and regulatory expertise
Negative
- Three directors retiring at the AGM may reduce institutional continuity
- Dividend policy alignment with regulatory capital could constrain distributions
Key Figures
Market Reality Check
Peers on Argus
Peers show mixed moves, with names like HBAN, KEY and CFG up between 0.88% and 1.30%, while SHG and FCNCA are down modestly. This pattern, alongside BAP’s flat price action, points to stock-specific governance news rather than a coordinated sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 30 | Earnings call schedule | Neutral | +3.1% | Announced 4Q25 earnings release date and webcast conference call details. |
| Jan 22 | Quiet period notice | Neutral | +1.1% | Declared 4Q25 quiet period to limit communications before results release. |
| Jan 20 | Neobank license | Positive | +1.7% | Tenpo received final authorization, becoming Chile’s first licensed neobank. |
| Dec 29 | Bank acquisition | Positive | -0.4% | BCP agreed to acquire 100% of Helm Bank USA for USD 180 million. |
| Dec 12 | Results timetable | Neutral | -0.1% | Published 2026 quarterly earnings release and conference call schedule. |
Recent news has been largely operational and strategic, with positive strategic announcements sometimes met with modest or even negative short-term price reactions.
Over the last few months, Credicorp has focused on strategic growth and transparency. Announcements included Tenpo becoming Chile’s first licensed neobank with operations expected in H1 2026, and Banco de Crédito del Perú agreeing to acquire Helm Bank USA for USD 180 million. The company also laid out its 2026 results calendar and upcoming 4Q25 earnings release and call. Today’s board refresh and dividend policy confirmation fit into this broader narrative of governance, digital transformation, and disciplined capital allocation.
Market Pulse Summary
This announcement centers on Board renewal and capital return discipline. Credicorp proposes three new directors with expertise in technology, AI oversight, financial governance and long-term capital allocation, while women would continue to represent one-third of the Board. The company also confirms a dividend policy with a minimum payout of 25% of consolidated net profits. In context of recent strong 2025 results and ongoing digital initiatives, investors may watch how these governance changes influence strategy execution and risk management over time.
Key Terms
artificial intelligence technical
cloud platforms technical
cybersecurity technical
AI-generated analysis. Not financial advice.
Lima, Feb. 27, 2026 (GLOBE NEWSWIRE) -- Lima, Peru – February 27th, 2026 – Credicorp Ltd. (“Credicorp”) yesterday announced that its Board of Directors has approved the proposal of candidates to stand for election to the Board at the Company’s 2026 Annual General Meeting of Shareholders (“AGM”), to be held on Tuesday, March 31, 2026, at 3:00 p.m. (Peru time), as a pure virtual meeting.
The proposed nominees are the result of a structured, skills-based refreshment process designed to support Credicorp’s strategy, evolving risk profile, and capital allocation priorities. As the Company advances its digital transformation, strengthens operational resilience and continues to execute on its long-term value creation objectives across its diversified financial services platform, the Board has sought to further strengthen expertise in technology and AI-related oversight, financial and regulatory governance, and strategic execution.
The Board will propose the election of three new directors: María Inés Álvarez (Independent), Juan Paredes Manrique (Independent) and Manuel Romero Valdez (Non-Independent). If elected, they will join the Board effective March 31st, succeeding Antonio Abruña Puyol, Alexandre Gouvêa and Patricia Lizárraga Guthertz, who have announced their intention to retire from the Board. All other current Board directors will stand for re-election.
The 2026 nomination process was conducted by the Compensation and Nominations Committee, under the oversight of the Board, in accordance with the Company’s Bye‑laws, Corporate Governance Policies, Board Regulations and Committee Charters and included formal independence assessments and conflict-of-interest safeguards. The Audit Committee will remain fully composed of independent directors and will continue to include a financial expert in accordance with SEC requirements. Key committees will continue to operate under independent leadership, preserving robust oversight of financial reporting, risk management, executive compensation and nominations. Women would continue to represent one-third of the Board’s composition, maintaining Credicorp’s commitment to diversity of perspectives and balanced governance.
Proposed New Director Nominees
María Inés Álvarez Arnao (Independent)
Ms. Álvarez is a technology executive and board director with more than 30 years of experience in artificial intelligence, cloud platforms, cybersecurity and large‑scale technology operations. She most recently served as Vice President of Experimentation, AI Platform, Cloud & AI at Microsoft, and previously held senior technology leadership roles at Panda Security and Yahoo. She currently serves as a Board Member and Chair of the Information Security Audit Committee at Alkami Technology. Her experience strengthens the Board’s independent oversight of digital transformation, operational resilience, cybersecurity governance and technology‑related risks.
Juan Paredes Manrique (Independent)
Mr. Paredes is an independent consultant and director with more than three decades of experience in external audit, financial advisory and regulatory matters, particularly within financial institutions and regulated companies. He served as Audit Partner at EY Peru from 2002 to 2021, leading the firm’s Assurance practice, and currently serves as a Director of Banco de Crédito del Perú. His background reinforces the Board’s independent oversight of financial reporting, regulatory compliance and risk governance bringing deep familiarity with supervisory frameworks applicable to publicly listed companies.
Manuel Romero Valdez (Non‑Independent)
Mr. Romero is Chairman of Grupo Romero and brings extensive experience in corporate finance, strategy, transformation, mergers and acquisitions and, long-term capital allocation He previously served as Deputy Chief Executive Officer and Chief Financial Officer of Alicorp S.A.A., and worked in investment banking at Credit Suisse. He currently serves on the board of Alicorp S.A.A. and several private companies. His appointment supports long-term stewardship and generational continuity, contributing strategic perspective and capital discipline within the Board’s established governance framework.
In addition to the proposed new nominees, the Board will propose the re‑election of Nuria Aliño Pérez, María Teresa Aranzabal Harreguy, Raimundo Morales Dasso, Leslie Pierce Diez‑Canseco, Luis Romero Belismelis and Pedro Rubio Feijóo. These Directors bring continuity, deep institutional knowledge and broad experience across Credicorp’s businesses. For detailed information related to the professional backgrounds and qualifications of each of the existing directors, please refer to our latest 20-F filing (link).
At the 2026 Annual General Meeting of Shareholders, Antonio Abruña Puyol, Alexandre Gouvêa and Patricia Lizárraga Guthertz will retire from the Board. The Board expresses its sincere gratitude for their valuable professional and personal contributions during their tenure.
Detailed information regarding the director nomination process, the assessment of independence, the rationale supporting each proposed candidate, and the applicable voting procedures will be available at the Proxy Information document to be published at the Annual Materials section of Credicorp Web page (link) by March 2nd.
Other Board Resolutions
At the same meeting, the Board approved an update to the Company’s dividend policy, which maintains the minimum payout of
About Credicorp
Credicorp (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia, Bolivia, and Panama and United States. Credicorp has a diversified business portfolio organized into four lines of business (“LoBs”): Universal Banking, through BCP and Banco de Crédito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Management & Advisory, through Credicorp Capital, Wealth Management at BCP and ASB Bank Corp. Additionally, it complements its operations through Krealo, its Corporate Venture Capital arm.
For further information, please contact:
Investor Relations
Credicorp Ltd.
Investorrelations@credicorpperu.com
FAQ
Who are the director nominees for Credicorp (BAP) at the March 31, 2026 AGM?
What director departures will occur at Credicorp (BAP) after the March 31, 2026 AGM?
How does the Credicorp (BAP) Board change affect gender representation after the 2026 AGM?
What did Credicorp (BAP) change about its dividend policy on February 27, 2026?
Will Credicorp’s (BAP) Audit Committee remain independent after the 2026 board refresh?
