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. (BAP) is a financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, Panama, and the United States, and a diversified portfolio spanning universal banking, microfinance, insurance and pension funds, and investment management and advisory. The Credicorp news stream highlights how this multi-line structure evolves over time through strategic decisions, regulatory developments, and capital markets communication.
News items for Credicorp often include announcements about earnings releases and conference calls, where the company informs shareholders and the market about scheduled publication dates for quarterly results and related webcasts. These releases outline when investors can expect financial reports and how to access management’s presentations and Q&A sessions.
The news flow also covers material events such as tax assessments involving its subsidiary Grupo Credito S.A., legal actions taken in response to those assessments, and clarifications of media coverage regarding dividend distributions. Credicorp uses press releases to explain the nature of these disputes, the amounts involved, and its stated intention to exercise legal rights while reaffirming its views on regulatory and tax compliance.
Another important category of Credicorp news relates to strategic initiatives and investor events. The company has announced and summarized Investor Day meetings, including a 30-year NYSE listing anniversary event, where leadership discusses its integrated strategy, digital transformation, financial inclusion efforts, and ecosystem-based growth model. In addition, Credicorp has reported on a stock purchase agreement for its subsidiary Banco de Crédito del Perú to acquire Helm Bank USA, a Florida state-chartered community bank, subject to regulatory approvals.
Visitors to the Credicorp news page can review these updates to understand how the holding company manages its multi-country financial operations, responds to regulatory matters, and communicates long-term plans and material transactions to the market.
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.
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.
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.
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.
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.
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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