Second Party Opinion: Banco de Credito del Peru's 2023 Sustainability Financing Framework

BCP's overall business goal is to strengthen its long-term financial performance, competitiveness, and connection to society. To do so, the company has developed its 2020-2025 sustainability strategy composed of three pillars, which are to contribute to a more sustainable and inclusive economy, improve the financial health of citizens, and empower people to thrive.

...July 14, 2023 Banco de CrTdito del Per· (BCP) has been operating for over 100 years and is the largest and financial service provider in Peru, with a market share of about 33.4% of domestic loans and 36.1% of deposits. BCP provides a full range of retail and wholesale banking services for large corporates, small and midsize enterprises (SMEs), and individuals, and offers treasury activities. As part of its business plan, it aims to improve financial inclusion within Peru's large informal economy by offering microfinancing, mainly through its subsidiary MiBanco. BCP is majority owned by Credicorp Ltd., a financial conglomerate listed on the New York Stock Exchange. In our view, BCP's Sustainability Financing Framework 2023, published in July 2023, is aligned with: Social Bond Principles, ICMA, 2023 (with June 2022 Appendix 1) Green Bond Principles, ICMA, 2021 (with June 2022 Appendix 1) Sustainability Bond Guidelines ICMA, 2021...

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