Credicorp Ltd SEC Filings

Credicorp Ltd. reports that its Board of Directors unanimously approved a major allocation of 2025 profits into reserves. Based on total 2025 net income of S/6,925,376,887.42, the Board agreed to increase special reserves by S/6,885,724,133.16 and accumulated results by S/39,652,754.26 in line with its bye-laws.

The Board also stated it will evaluate the regular dividend distribution related to 2025 earnings at its usual April meeting, using these accounts as needed while maintaining Credicorp’s stated dividend policy.

Credicorp Ltd. has approved an updated dividend policy that targets annual cash dividends of at least 25% of the company’s consolidated net profit, based on its latest audited financial statements. The Board will consider factors it deems relevant when deciding the actual dividend.

Under Bermudan law, dividends can only be declared if Credicorp can pay its obligations as they fall due and if the realizable value of its assets is not less than the sum of its liabilities, issued capital stock and capital premium accounts. If these conditions are not satisfied, the Board may decide to pay a lower percentage than 25%.

The policy expects dividends to be paid once a year, within ninety calendar days after the Board meeting that approves them, and explicitly states that no interim dividends will be paid. The revised policy becomes effective thirty calendar days after its approval and will remain in force until changed or discontinued by the Board of Directors.

Credicorp Ltd. reported strong financial and operating results for 4Q25 and full-year 2025, highlighted by higher profitability, solid growth and better asset quality. Net profit attributable to Credicorp reached S/1,587.0 million in 4Q25 (down 8.7% QoQ but up 40.9% YoY), while full-year net income rose 25.9% to S/6,925.4 million, driving a 2025 ROE of 19.0% (16.9% in 4Q25).

Total loans grew 3.6% QoQ and 2.9% YoY, or 8.5% YoY on a FX‑neutral, Bolivia‑adjusted basis, led by retail and microfinance. Deposits increased 7.6% QoQ and 5.3% YoY, with low‑cost deposits up 11.1% and representing 73.0% of total deposits, supporting a lower funding cost of 2.3%.

Risk indicators improved meaningfully: the NPL ratio fell to 4.5% (down 26 bps QoQ and 71 bps YoY) and cost of risk declined to 1.6% for 2025. Risk‑adjusted net interest margin reached a record 5.55% in 4Q25, supported by loan mix and better credit performance.

Other income was robust, with other core income up 13.7% YoY and 12.2% for the year. The innovation portfolio contributed 8.1% of risk‑adjusted revenue in 4Q25, driven by platforms such as Yape, whose total income nearly doubled in 2025 and monthly revenue per active user rose to S/9.6.

Operating expenses increased 12.0% in 2025, reflecting investments in core businesses and digital initiatives; the efficiency ratio stood at 46.6%, slightly above the prior year but within company guidance. Capital levels remained strong, with robust regulatory ratios at BCP and Mibanco.

Strategically, Credicorp completed the full acquisition of Banmédica, consolidating health insurance and medical services, and signed an agreement to acquire 100% of Helm Bank in the U.S. to reinforce cross‑border capabilities. Management targets an ROE of around 19.5% for 2026, supported by faster retail loan growth, higher margins and a controlled cost of risk.

Dodge & Cox has updated its ownership in Credicorp Ltd. common shares, reporting beneficial ownership of 3,870,940 shares, or 4.1% of the class. It holds sole voting power over 3,748,155 shares and sole dispositive power over 3,870,940 shares, with no shared voting or dispositive power.

The filing indicates ownership of 5 percent or less of the class and states that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Credicorp Ltd.

Credicorp Ltd. describes its response to Peru’s securities regulator over a long‑running dispute about how a prior sanction was handled and disclosed. The Superintendency of the Securities Market (SMV) had earlier fined Credicorp 510 UIT (about S/1.9 million) for very serious violations linked to undisclosed political campaign contributions in 2011 and 2016, a fine Credicorp paid in 2021 and reported in its 2021 consolidated financial statements. Credicorp then filed an administrative court action seeking to annul the SMV’s deemed resolution that rejected its appeal. A Supreme Court civil chamber later issued an appellate decision upholding a 2023 first‑instance judgment that rejected Credicorp’s claim. Credicorp told the SMV it has not treated that appellate decision as a material event because it can still file a cassation appeal with another Supreme Court chamber and believes the case is not yet final. The company is assessing whether to pursue that cassation remedy and reiterates its view that only a final, unappealable judgment would require market disclosure as a material event under Peruvian securities rules.

Credicorp Ltd. filed a Form 6-K as a foreign private issuer to report a material event decided by its Board of Directors on January 29, 2026. The Board established that shareholders officially registered as of Friday, February 13, 2026 will be entitled to attend and vote at a referenced shareholders’ meeting. The company also states that the information in this Form 6-K is not deemed filed for purposes of Section 18 of the Exchange Act and is not incorporated by reference into Securities Act or Exchange Act filings.

Credicorp Ltd. reports that the Chilean Financial Market Commission (CMF) has granted operating authorization to Tenpo Bank Chile, a Credicorp subsidiary. This authorization allows Tenpo Bank Chile to operate as a bank that engages exclusively in banking activities under Chilean regulation. The CMF’s decision was notified on January 19, 2026, and the authorization requires that Tenpo Bank Chile begin operations within a maximum period of one year from that notification date. This step marks Credicorp’s formal regulatory clearance to launch its banking operations in the Chilean market through Tenpo Bank Chile.

Credicorp Ltd., through its subsidiary Banco de Crédito del Perú (BCP), has agreed to acquire 100% of the shares of Helm Bank USA from the Wilde family under a Stock Purchase Agreement. BCP will pay a purchase price of US$180,000,000, subject to a customary price adjustment as of the closing date.

Helm Bank is a Florida-chartered community bank supervised by the Florida Office of Financial Regulation and is a member of the FDIC. As of the end of September 2025, Helm Bank reported a loan portfolio of US$648.2 million, total assets of US$1,141.8 million, and shareholders’ equity of US$106.8 million, giving a sense of the scale of the institution being acquired.

The transaction will close only after required regulatory approvals in the United States (OFR and Federal Reserve) and in Peru (SBS) are obtained and other customary conditions are met. Once these conditions are satisfied or waived, the closing date is expected to occur within a few business days or another period agreed between BCP and the sellers.