BCP
Local banking surpasses high national growth rates

Raimundo Morales General Director BCP

Peru’s leading bank for nearly two decades and commanding 32% of market share, Banco de Credito de Peru (BCP) is the main subsidiary of Credicorp Ltd., the country’s largest financial group and one of the two Peruvian companies listed on the NY stock exchange. Operating through its subsidiaries - BCP, Atlantic Security Holding Corporation, the Pacifico Peruano Suiza Insurance and Reinsurance Company, and Grupo Credito, Credicorp provides a full range of financial and insurance services. Banking services include trade finance, corporate finance, leasing services, and consumer, micro-business, and mortgage loans. The group’s insurance services include commercial property, transportation and marine hull, automobile, life and pension fund underwriting insurance. Credicorp also offers investment banking services, including brokerage, asset management and trust services, custody and securitization services, and trading and investment.

“Basically, our idea of one holding company that owns the Peruvian bank of BCP, the offshore Atlantic Security bank and 100% of our insurance company is to be able to provide our customers with all the financial services they will need throughout their lives,” comments BCP general director Raimundo Morales (INTERVIEW), adding that BCP is the platform through which most of the group’s services are provided. “Through providing all the financial products, we are making life easier for our customers.”

Mr Morales concludes, “We think that the growth of the financial sector in the next few years will be between 10% and 15%, and BCP is going to be able to grow at those rates as well.”