Credicorp

Credicorp Ltd.

Type	Public BVL: BAP NYSE: BAP
Industry	Insurance, Commercial banking
Founded	1889
Headquarters	Lima, Peru
Key people	Dionisio Romero Chair, CEO
Products	Credit, Pension funds Life & Health insurance Demand deposits, microloans
Revenue	US$ 2.7 Billion 2010
Net income	US$ 575.3 Million 2010
Total assets	US$ 28.4 billion 2010[1]
Employees	19.641 2011
Website	Credicorp

Credicorp (BVL: BAP / NYSE: BAP) is the largest financial holding company in Peru. The company was founded in 1889 and is headquartered in Lima, and through its subsidiaries provides commercial banking, insurance and investment banking services in Peru and internationally.

Its commercial banking services include finance, corporate finance, and leasing services. The company's insurance products comprise commercial property, transportation and marine hull, mortgage/credit life, casualty, SOAT, home, automobile, life, health, and pension fund underwriting insurance. Its investment banking services include brokerage, asset management, trust, financial consultancy, custody and securitization, trading, and investment services.

Although it traces its roots back to the late 19th century it was established in its current form in 1995 shortly before going public on both the nyse and the Lima Stock Exchange in October of that year. It works through 4 subsidiaries each specializing in a different aspect of business, Banco de Credito del Peru (BCP) & Atlantic Security Holding Corporation (ASHC) deal with commercial and investment banking, El Pacífico-Peruano Suiza Compañía de Seguros y Reaseguros (PPS) offers insurance to a wide variety of clients (people interested in auto, life, or health insurance) and Prima AFP operates within the pension funds market. The bank which has over 3 million customers, celebrated its 15th year as part of the New York Stock Exchange by ringing of the opening bell.^[1]

The acquisition of 77% of Empresa Financiera Edyficar S.A. in September 2009 expanded its access to the lower income/small business market (Credicorp then sold a minority stake in that company to Banco de Credito del Peru in October 2009). The $96 million company (Empresa Financiera) has 195,000 clients and a loan book valued at $208 million (most of them microloans, before the deal Credicorp was the second largest microloan lender in Peru behind Mibanco)^[2]

External links

• Official website

References

1. ^ ^{a b} "Peru’s Credicorp rings Wall Street’s opening bell". 2010-10-25. http://www.livinginperu.com/news-13397-business-perus-credicorp-rings-wall-streets-opening-bell. 
2. ^ "BCP to acquire 77% stake in Financiera Edyficar". 2009-09-07. http://www.bnamericas.com/news/banking/BCP_to_acquire_77*_stake_in_Financiera_Edyficar.