Credicorp

Gianfranco Ferrari (CEO)

Credicorp is a financial services holding company in Peru with a presence in Colombia, Bolivia, Chile, Panama and the United States. It currently has a universal banking, insurance and pension platform, with a microfinance, investment banking and wealth management presence in Latin America. Krealo, the innovative arm of the corporation, creates and invests in fintechs and startups in Latin America.

Its main operating subsidiaries are Banco de Crédito del Perú (BCP), Mibanco, BCP Bolivia, Atlantic Security Bank (ASB), Grupo Pacífico Seguros, Prima AFP, and Credicorp Capital. Credicorp has four lines of business: universal banking, microfinance, insurance and pensions, and investment banking and wealth management.

Credicorp was established in 1995 through the acquisition of the majority of the common shares of Banco de Crédito del Perú, Atlantic Security Holding Co. and Pacífico Seguros. The company was then listed on the New York Stock Exchange and the common shares have been traded there ever since.

History

Credicorp was founded in 1995 after acquiring the common shares of Banco de Crédito del Perú (BCP), Atlantic Security Holding Corporation and Pacífico Compañía de Seguros y Reaseguros S.A.: 90.1%, 98.2% and 75.8%, respectively. The shares began trading on the New York Stock Exchange after the exchange offering. In 1996, Credicorp acquired the remaining 1.8% of the shares of Atlantic Security Holding Corporation.

In 2012, Credicorp acquired the majority of the shares of Correval (Colombia) and IM Trust (Chile), thus forming the company known today as Credicorp Capital. In 2019, Ultraserfinco was acquired in Colombia.

Today, Credicorp has around 20 million clients at an international level in its different operations. It has more than 36 thousand employees serving around 10 million clients in universal banking, around 2 million in microfinance, around 5 million clients in insurance, and 2.4 million members in the pension business line.