Credicorp continues with its plan to establish a regional investment bank

July 19, 2012 at 5:22 PM EDT

Lima, PERU, July 19, 2012 -- Credicorp (NYSE: BAP) announced today that its subsidiary Banco de Crédito del Perú (BCP) will transfer part of its equity, for a total of S/.138,277,561.30 (One hundred and thirty-eight million two hundred and seventy-thousand five hundred and sixty-one and 30/00 Nuevos Soles) that includes, among its main assets, stock shares in its subsidiaries Credifondo, Credibolso and Credititulos, to BCP Capital S.A.A. (BCP Capital), a subsidiary of Grupo Crédito and Banco de Crédito, which are, respectively, direct and indirect holders of 100% of its stock shares, as part of the strategic plan to create a regional investment bank. The equity to be split represents 2.13% of BCP's total book equity and the assets to be split represent 0.25% of BCP's total assets, as of June 30, 2012.

Thus, the split of this equity block of BCP in favor of BCP Capital is part of Credicorp's strategy to create an investment bank with a regional scope and approach within the ambit of the Latin American Integrated Market (MILA). The split, as well as the agreements reached to acquire majority holdings in Correval and IM Trust, will allow Credicorp to increase the value proposition offered to clients seeking to do business in these markets based on an integrated approach.

It should be noted that in its session held yesterday, July 18, BCP's Board of Directors approved the proposed split, which will be submitted for the consideration and approval of BCP's General Meeting of Shareholders, to be held on Tuesday August 21, 2012. Afterwards, the proposed will be submitted for approval by the Superintendency of Banking, Insurance and AFPs and the Superintendency of the Peruvian Securities Market - SMV.

About CREDICORP

CREDICORP is the leading financial service group in Peru, and operates primarily in commercial and investment banking through its main subsidiary Banco de Crédito del Perú (BCP), an institution with over 120 year of successful experience in the Peruvian financial market, that holds more than 40% market share in the corporate sector and over 20% in the retail business. Credicorp also holds other subsidiaries which are leaders in the insurance and asset management businesses. Credicorp is listed in the NYSE since 1995 and has a market cap of US$ 10.4 billion and average daily trading volumes equivalent to around US$ 50 million. More than 60% of Credicorp's capital is held by institutional investors which include the largest portfolio managers in Europe and the USA. In 2011, Credicorp reported revenues of US$ 2.34 billion, net profits of US$ 709 million, assets of US$ 30.73 billion, and a total of US$ 3.46 billion in net equity.

Investor Relations
Credicorp Ltd. 
Contact Information:

Aida G. Kleffmann                                             Giuliana Cuzquén
IR Officer                                                         Investor Relations
(511) 313-2123                                                   (511) 313-2170  
akleffmann@bcp.com.pe                                    gcuzquen@bcp.com.pe 


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