Tear Sheet: Banco de Credito del Peru

On the other hand, like in the banking industry, BCP's asset quality has been improving in recent quarters thanks to better local economic conditions, higher liquidity amid the seventh pension funds withdrawal, and banks' conservative underwriting of new loans. Although risks around political uncertainties and climate events in Peru have receded recently, we will continue monitoring these factors. BCP's good credit-loss provisions coverage and capitalization help keep pressures on asset quality manageable. We consider BCP as a core subsidiary of Credicorp given its importance to the group. The bank accounts for about 80% of the group's total assets and net income. Mibanco - Banco de la Microempresa S.A., Aug. 9, 2024 Credicorp Ltd., July 4, 2024 Banco de Credito del

...What's new: Steady investments in digital initiatives over past years have started to pay off, benefiting Credicorp and Banco de Credito del Peru's (BCP) competitiveness in the Peruvian financial industry. In particular, Yape, the most used digital app in Peru with about 15 million total users, has been increasing its functionalities and supplementing the group's banking and insurance products, allowing to increase its client base and benefiting its income and profitability. We expect investments in digitalization to continue in the coming years, supporting the bank and group's adaptability and competitive position in the Peruvian financial industry. On the other hand, like in the banking industry, BCP's asset quality has been improving in recent quarters thanks to better local economic conditions, higher liquidity amid the seventh pension funds withdrawal, and banks' conservative underwriting of new loans. Although risks around political uncertainties and climate events in Peru have receded...

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