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Credicorp

Four growth levers, Medium term

Improving lives by accelerating the changes that our countries need
Credicorp’s purpose

Four growth levers

Credicorp is Peru’s largest financial group: BCP, Mibanco, Pacifico, and Yape, the payments app most Peruvians use, with businesses in Chile, Colombia, Bolivia, and Panama. Its strategy is to run them as one financial ecosystem, with four growth levers.

2Digitalecosystem3Sharedcapabilities4Resilientreturns1Leadingpositions

Prioritizing Leading Market Positions in Underpenetrated Markets with Clear Growth Avenues

  • Room to growGrow in Peru, where low financial inclusion, low insurance cover, and high informality leave room to grow in payments, credit, insurance, and remittances.
  • Core businessesKeep its leading positions across its mature core businesses in banking, microfinance, insurance, and pensions.
  • 13 August 2026Loans grew 13.1% to S/159.4 billion, led by BCP and Mibanco, and the share of loans not being repaid fell to 4.1%.
  • 13 August 2026Deposits grew 17.7%, and low-cost deposits were 74.4% of the total.

Yape makes more from each user than it spends

Yape is a Peruvian app for payments, loans, and shopping. In the second quarter of 2026 each active user brought in S/11.1 a month and cost S/6.0, and Yape’s loans were four times their level a year earlier.

ThousandsHundredsTensUnitsActive usersa month16.7 millionTransactionsper user69Revenueper userS/11.1Costper userS/6.0LoansS/1,817 millionPromoterscore78

Each cord holds a whole number: active users in hundreds of thousands, revenue and cost per user in tenths of a sol, and loans in millions of soles. A cord with no knots at a place holds a zero there.

8 million people into the financial system by 2028

Many people in Peru work outside the formal economy and have no bank account. By June 2026 Credicorp had brought 7.0 million people into the financial system since 2020, 0.9 million of them in the past year.

7.0 million

1m2m3m4m5m6m7m8m8 million by 2028

People brought into the financial system through BCP since 2020, in millions: new clients with a savings account or on Yape, new clients with no debt in the financial system or with BCP in the past year, and clients averaging three transactions a month.

  1. Give disruption a budget.

    Credicorp lets its innovation portfolio cost up to 1.5 points of return on equity and 3.5 points of efficiency, and no more. We recommend setting how much a portfolio of new bets may cost the core, so the bets are funded and bounded at once.

  2. Count the people you reach.

    Credicorp tracks the people it has brought into the financial system each quarter, against 8 million by 2028. We recommend that a purpose about customers or society has one number that counts the people it reaches.

  3. Let ventures graduate.

    Credicorp’s ventures move through five stages, from origination to scaling, and join the core businesses once mature. We recommend stages with exits for new ventures, so they are neither smothered early nor left outside for ever.

Sources

  1. 1. Credicorp Ltd. (2026). Earnings release 2Q26. Form 6-K, exhibit 99.1, 13 August 2026. sec.gov
  2. 2. Credicorp Ltd. (2026). Annual report for 2025. Form 20-F, 27 April 2026. sec.gov

Headwater is not connected with Credicorp. Credicorp, BCP, Mibanco, Pacifico, Yape, Tenpo, iO, and Krealo are trade marks of their owners. Updated 30 September 2026.

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