Credicorp Ltd Stock Price, News & Analysis

LIMA, Peru--Latin America's investment landscape has evolved, showcasing diverse financial markets and rising domestic consumption. Credicorp Capital highlights the investment theme termed The Great Catch Up, where local companies emulate global success strategies. Mercado Libre, valued at $60 billion, leads regional growth. E-commerce in Latin America is set for rapid expansion, bolstered by increased smartphone usage, now projected at 80% by 2025. Over $10 billion has been raised by key e-commerce players for enhancements in delivery and fintech services, indicating strong future adoption.

Credicorp Ltd. has announced the candidacy of Leslie Pierce for election as the 9th director at a Special General Meeting on October 16, 2020. This follows a board expansion approved earlier this year. Pierce, with nearly 40 years of leadership experience in Peru, previously served as CEO of Alicorp and held various significant positions in business and government. His expertise in consumer-facing businesses is expected to enhance board decision-making. If elected, four of the nine directors will be independent, marking a step towards improved corporate governance.

Credicorp Ltd. (BAP) will release its 2Q20 Earnings Report on August 6, 2020, after market close. A conference call to discuss the results is scheduled for August 7, 2020, at 10:30 am EST. Key executives, including CEO Walter Bayly, will participate. This call can be accessed by dialing 1 877 271 1828 (U.S.) or 1 334 323 9871 (International), with a participant code of 643525. Additionally, the 2019 Annual Report was filed on April 30, 2020, and is available for download on Credicorp's website.

Credicorp (NYSE: BAP) announces the initiation of a quiet period from July 23 to August 6, 2020, prior to its 2Q20 earnings release. This decision aligns with corporate disclosure policies to ensure fairness and prevent leaks of financial results. During this period, the company will refrain from disclosing any financial information or responding to inquiries related to its financial results. Credicorp is a leading financial services holding company in Peru, with diversified operations in universal banking, microfinance, insurance, and investment banking.

Credicorp has announced the initiation of the process to elect a new ninth member to its Board of Directors following approval from shareholders. This comes after the recent amendment to the company’s bye-laws, allowing expansion from 8 to 9 members. Shareholders can propose candidates until July 15. The selection guidelines for the new nominee were established by the Compensation and Nominations Committee on June 25. Credicorp's latest Board is noted for being more independent and diverse.

Credicorp Ltd. (NYSE: BAP) has priced its public offering of USD 500 million in 2.750% notes due 2025. The notes offer an effective yield of 2.867%, reflecting a spread of 250 basis points above the benchmark US Treasury yield. This strategic move aims to enhance the company's liquidity and financial flexibility, allowing for potential investments and operational improvements.

Credicorp Ltd. announced a revamped Board of Directors, appointing Luis Enrique Romero Belismelis as Executive Chairman and Raimundo Morales Dasso as Vice Chairman, effective June 9, 2020. The new board structure, designed to enhance governance, includes a more independent and diverse composition. Romero Belismelis emphasized a commitment to best practices and long-term stakeholder value. The company, which operates in Peru and other South American countries, offers diverse financial services across various sectors, reinforcing its position as a leading financial services holding company.