Lima, PERU, July 01, 2011 -- Credicorp (NYSE: BAP) reports that its subsidiary Pacífico EPS has reached an agreement to acquire a significant stake in two private hospitals in Perú. Both agreements are subject to conditions precedent.
These acquisitions are in line with Credicorp's strategy to selectively pursue investments in non financial activities, in order to effectively strengthen our competitive advantages in the financial business.
With these acquisitions, our insurance group seeks to address the growing demand for access to high quality customer focused health services. This investment in health services is a clear sign of confidence in the country's continued economic development and expansion of the Peruvian insurance market. Through this strategy we will offer the entire spectrum of health services including insurance products, health and wellness programs, primary and specialized ambulatory services, and comprehensive acute care services.
Credicorp Ltd. (NYSE: BAP) is the leading financial services holding company in Peru. It primarily operates via its four principal subsidiaries: Banco de Credito del Peru (BCP), Atlantic Security Holding Corporation (ASHC), El Pacífico-Peruano Suiza Compañía de Seguros y Reaseguros (PPS) and Grupo Credito (which includes Prima AFP). Credicorp is engaged principally in banking (including commercial and investment banking), insurance (including commercial property, transportation and marine hull, automobile, life, health and underwriting insurance), pension funds (including private pension fund management services), and brokerage and other (including brokerage, trust, custody and securitization services, asset management and proprietary trading and investment). BCP is Credicorp's primary subsidiary.
Aida Kleffmann Giulianna Cuzquen Silvanna Peraldo
IRO Investor Relations Investor Relations
(511) 313-2123 (511) 313-2170 (511) 313-2123 ext:33637
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