Credicorp
Market Cap
US$11.4b
Last Updated
2020/06/03 03:03 UTC
Data Sources
Company Financials +
Executive Summary
Credicorp Ltd., a financial services holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally.
Rewards
Risk Analysis
Snowflake Analysis
6 star dividend payer with excellent balance sheet.
Similar Companies
Share Price & News
How has Credicorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BAP's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
1.7%
BAP
-0.3%
US Banks
1.7%
US Market
1 Year Return
-35.2%
BAP
-21.3%
US Banks
8.5%
US Market
Return vs Industry: BAP underperformed the US Banks industry which returned -21.1% over the past year.
Return vs Market: BAP underperformed the US Market which returned 9.3% over the past year.
Shareholder returns
| BAP | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.7% | -0.3% | 1.7% |
| 30 Day | 1.6% | 5.8% | 9.5% |
| 90 Day | -25.1% | -18.2% | 0.1% |
| 1 Year | -30.0%-35.2% | -18.6%-21.3% | 11.0%8.5% |
| 3 Year | -3.8%-16.9% | -7.0%-14.3% | 32.2%23.5% |
| 5 Year | 25.2%3.9% | 12.6%-0.8% | 58.6%40.8% |
Price Volatility Vs. Market
How volatile is Credicorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 days ago | Simply Wall St
Is Now The Time To Look At Buying Credicorp Ltd. (NYSE:BAP)?1 month ago | Simply Wall St
Did Changing Sentiment Drive Credicorp's (NYSE:BAP) Share Price Down By 41%?1 month ago | Simply Wall St
What Type Of Shareholder Owns Credicorp Ltd.'s (NYSE:BAP)?Valuation
Is Credicorp undervalued compared to its fair value and its price relative to the market?
1.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BAP ($144.05) is trading below our estimate of fair value ($145.8)
Significantly Below Fair Value: BAP is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: BAP is poor value based on its PE Ratio (11.5x) compared to the Banks industry average (9.6x).
PE vs Market: BAP is good value based on its PE Ratio (11.5x) compared to the US market (15.7x).
Price to Earnings Growth Ratio
PEG Ratio: BAP is good value based on its PEG Ratio (0.7x)
Price to Book Ratio
PB vs Industry: BAP is overvalued based on its PB Ratio (1.7x) compared to the US Banks industry average (0.8x).
Next Steps
Future Growth
How is Credicorp forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
17.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BAP's forecast earnings growth (17.5% per year) is above the savings rate (2.2%).
Earnings vs Market: BAP's earnings (17.5% per year) are forecast to grow slower than the US market (22% per year).
High Growth Earnings: BAP's earnings are forecast to grow, but not significantly.
Revenue vs Market: BAP's revenue (9.1% per year) is forecast to grow faster than the US market (8.8% per year).
High Growth Revenue: BAP's revenue (9.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BAP's Return on Equity is forecast to be low in 3 years time (16.4%).
Next Steps
Past Performance
How has Credicorp performed over the past 5 years?
8.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BAP has a high level of non-cash earnings.
Growing Profit Margin: BAP's current net profit margins (29%) are lower than last year (33.6%).
Past Earnings Growth Analysis
Earnings Trend: BAP's earnings have grown by 8.3% per year over the past 5 years.
Accelerating Growth: BAP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BAP had negative earnings growth (-16.7%) over the past year, making it difficult to compare to the Banks industry average (2.8%).
Return on Equity
High ROE: BAP's Return on Equity (14.5%) is considered low.
Next Steps
Financial Health
How is Credicorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: BAP's Assets to Equity ratio (8.3x) is low.
Allowance for Bad Loans: BAP has a sufficient allowance for bad loans (126%).
Low Risk Liabilities: 68% of BAP's liabilities are made up of primarily low risk sources of funding.
Loan Level: BAP has an appropriate level of Loans to Assets ratio (58%).
Low Risk Deposits: BAP's Loans to Deposits ratio (96%) is appropriate.
Level of Bad Loans: BAP has a high level of bad loans (3.9%).
Next Steps
Dividend
What is Credicorp's current dividend yield, its reliability and sustainability?
6.13%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BAP's dividend (6.13%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: BAP's dividend (6.13%) is in the top 25% of dividend payers in the US market (4.55%)
Stability and Growth of Payments
Stable Dividend: BAP's dividends per share have been stable in the past 10 years.
Growing Dividend: BAP's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (70.7%), BAP's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BAP's dividends in 3 years are forecast to be well covered by earnings (34.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.2yrs
Average management tenure
CEO
Walter Bayly Llona (63yo)
2.17yrs
Tenure
Mr. Walter Bayly Llona has been Chief Executive Officer of Credicorp Ltd. since April 1, 2018. Mr. Bayly Llona served as Chief Operating Officer of Credicorp Ltd. since April 2008 until April 1, 2018. Mr. ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 11.42yrs | no data | 0.16% PEN18.2m | |
| Chief Executive Officer | 2.17yrs | no data | no data | |
| Chief Financial Officer | 2.17yrs | no data | no data | |
| Head of Accounting | no data | no data | no data | |
| Head of Investment Banking & Wealth Management | 1.42yrs | no data | no data | |
| Investor Relations Officer | 0.83yr | no data | no data | |
| Chief Compliance & Ethics Officer | 12.33yrs | no data | no data | |
| Head of Legal | 2.17yrs | no data | no data | |
| Head of On-Going Auditing & Corporate Development | no data | no data | no data | |
| Chief of Human Resources Officer | 2.17yrs | no data | no data |
2.2yrs
Average Tenure
Experienced Management: BAP's management team is considered experienced (2.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 11.42yrs | no data | 0.16% PEN18.2m | |
| Independent Director | 6.42yrs | no data | no data | |
| Independent Vice Chairman of the Board | 11.42yrs | no data | no data | |
| Independent Director | 24.75yrs | no data | no data | |
| Director | 21.25yrs | no data | no data | |
| Director | 3.25yrs | no data | no data | |
| Independent Director | 3.25yrs | no data | no data | |
| Director | 6.25yrs | no data | no data |
8.9yrs
Average Tenure
56.5yo
Average Age
Experienced Board: BAP's board of directors are considered experienced (8.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Credicorp Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Credicorp Ltd.
- Ticker: BAP
- Exchange: NYSE
- Founded: 1889
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: US$11.438b
- Shares outstanding: 79.40m
- Website: https://www.credicorp.gcs-web.com
Number of Employees
Location
- Credicorp Ltd.
- Clarendon House
- 2 Church Street
- Hamilton
- HM CX
- Bermuda
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BAP | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Oct 1995 |
| BAP | BVL (Bolsa de Valores de Lima) | Yes | Common Shares | PE | USD | Oct 1995 |
| BAP N | BMV (Bolsa Mexicana de Valores) | Yes | Common Shares | MX | MXN | Oct 1995 |
| D8V | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Oct 1995 |
| 0U8N | LSE (London Stock Exchange) | Yes | Common Shares | GB | USD | Oct 1995 |
Biography
Credicorp Ltd., a financial services holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities. It also issues insurance policies to cover losses in commercial property, transportation, marine vessels, automobile, life, health, and pensions, as well as provides private pension fund management services. In addition, the company offers microfinance, including the management of loans, credits, deposits, and current accounts of the small and microenterprises. Further, it provides investment brokerage and management services to corporations, institutional investors, governments, and foundations; and engages in structuring and placement of issues in the primary market, as well as the execution and negotiation of operations in the secondary market. Additionally, it structures securitization processes for corporate customers and manages mutual funds, as well as investment advisory and financial planning services. The company was founded in 1889 and is based in Hamilton, Bermuda.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/03 03:03 |
| End of Day Share Price | 2020/06/02 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.