Credicorp : Settled the acquisition of a majority stake in IM Trust.
LIMA, PERU, July 31, 2012 -- Credicorp (NYSE: BAP).- After receiving the approval from the relevant regulatory authorities in Chile and Perú and confirming that the precedent conditions were fulfilled, today July 31, 2012, Credicorp's subsidiary Banco de Crédito del Perú ("BCP") has settled the acquisition of 60.6 percent stake in Inversiones IM Trust S.A. based on a total equity valuation of US$ 185 million.
CREDICORP is the leading financial service group in Perú, 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.
About IM Trust
IM TRUST is one of the leading financial corporations in Chile, with over 25 years of experience in the Chilean market, which gives them a deep knowledge of their local market and its main participants. It has a team of 180 employees, with partners actively involved in the transactions and executives with an outstanding career. Since 2005, it has placed over US$ 12 billion in transactions in the capital markets, advising on complex operations such as M&A, and in financial intermediation of domestic and international investments. In early 2008, they expanded operations to Perú and Colombia.
| Aida G. Kleffmann|
| Giuliana Cuzquén|