Credicorp
Encyclopedia
Credicorp is the largest financial holding company in Peru
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The company was founded in 1889 and is headquartered in Lima
, and through its subsidiaries provides commercial banking, insurance and investment banking services in Peru and internationally.
Its commercial banking services include finance, corporate finance, and leasing services. The company's insurance products comprise commercial property, transportation and marine hull, mortgage/credit life, casualty, SOAT, home, automobile, life, health, and pension fund underwriting insurance. Its investment banking services include brokerage, asset management, trust, financial consultancy, custody and securitization, trading, and investment services.
Although it traces its roots back to the late 19th century it was established in its current form in 1995 shortly before going public on both the nyse and the Lima Stock Exchange in October of that year. It works through 4 subsidiaries each specializing in a different aspect of business, Banco de Credito del Peru (BCP) & Atlantic Security Holding Corporation (ASHC) deal with commercial and investment banking, El Pacífico-Peruano Suiza Compañía de Seguros y Reaseguros (PPS) offers insurance to a wide variety of clients (people interested in auto, life, or health insurance) and Prima AFP operates within the pension funds market. The bank which has over 3 million customers, celebrated its 15th year as part of the New York Stock Exchange by ringing of the opening bell.
The acquisition of 77% of Empresa Financiera Edyficar S.A. in September 2009 expanded its access to the lower income/small business market (Credicorp then sold a minority stake in that company to Banco de Credito del Peru
in October 2009). The $96 million company (Empresa Financiera) has 195,000 clients and a loan book valued at $208 million (most of them microloans
, before the deal Credicorp was the second largest microloan lender in Peru behind Mibanco)
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
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The company was founded in 1889 and is headquartered in Lima
Lima
Lima is the capital and the largest city of Peru. It is located in the valleys of the Chillón, Rímac and Lurín rivers, in the central part of the country, on a desert coast overlooking the Pacific Ocean. Together with the seaport of Callao, it forms a contiguous urban area known as the Lima...
, and through its subsidiaries provides commercial banking, insurance and investment banking services in Peru and internationally.
Its commercial banking services include finance, corporate finance, and leasing services. The company's insurance products comprise commercial property, transportation and marine hull, mortgage/credit life, casualty, SOAT, home, automobile, life, health, and pension fund underwriting insurance. Its investment banking services include brokerage, asset management, trust, financial consultancy, custody and securitization, trading, and investment services.
Although it traces its roots back to the late 19th century it was established in its current form in 1995 shortly before going public on both the nyse and the Lima Stock Exchange in October of that year. It works through 4 subsidiaries each specializing in a different aspect of business, Banco de Credito del Peru (BCP) & Atlantic Security Holding Corporation (ASHC) deal with commercial and investment banking, El Pacífico-Peruano Suiza Compañía de Seguros y Reaseguros (PPS) offers insurance to a wide variety of clients (people interested in auto, life, or health insurance) and Prima AFP operates within the pension funds market. The bank which has over 3 million customers, celebrated its 15th year as part of the New York Stock Exchange by ringing of the opening bell.
The acquisition of 77% of Empresa Financiera Edyficar S.A. in September 2009 expanded its access to the lower income/small business market (Credicorp then sold a minority stake in that company to Banco de Credito del Peru
Banco de Crédito del Perú
Banco de Crédito del Perú is a Peruvian bank, and the largest in the country. It is traded in the New York Stock Exchange and the Lima Stock Exchange . It is controlled by the Romero family...
in October 2009). The $96 million company (Empresa Financiera) has 195,000 clients and a loan book valued at $208 million (most of them microloans
Microcredit
Microcredit is the extension of very small loans to those in poverty designed to spur entrepreneurship. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit...
, before the deal Credicorp was the second largest microloan lender in Peru behind Mibanco)