Credicorp
Market Cap
US$16.7b
Last Updated
2019/10/19 23:45 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.
Snowflake
Fundamentals
Excellent balance sheet established dividend payer.
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
Market Performance
7 Day Return
0.5%
BAP
2.7%
US Banks
0.4%
US Market
1 Year Return
-4.3%
BAP
2.7%
US Banks
6.9%
US Market
Return vs Industry: BAP underperformed the US Banks industry which returned 2.7% over the past year.
Return vs Market: BAP underperformed the US Market which returned 6.9% over the past year.
Shareholder returns
| BAP | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.5% | 2.7% | 0.4% |
| 30 Day | -1.1% | 0.7% | -1.1% |
| 90 Day | -9.0% | 3.0% | -0.5% |
| 1 Year | -1.8%-4.3% | 5.7%2.7% | 9.3%6.9% |
| 3 Year | 52.4%39.0% | 52.1%41.6% | 45.8%36.4% |
| 5 Year | 56.5%38.4% | 69.2%50.7% | 62.9%45.1% |
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
1 week ago | Simply Wall St
Does Credicorp's (NYSE:BAP) Share Price Gain of 40% Match Its Business Performance?1 month ago | Simply Wall St
Is It Too Late To Buy Credicorp Ltd. (NYSE:BAP) At Its September Price?2 months ago | Simply Wall St
How Many Credicorp Ltd. (NYSE:BAP) Shares Do Institutions Own?Valuation
Is Credicorp undervalued compared to its fair value and its price relative to the market?
6.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Undervalued: BAP ($209.83) is trading below our estimate of fair value ($224.34)
Significantly Undervalued: 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 (13.4x) compared to the Banks industry average (12.6x).
PE vs Market: BAP is good value based on its PE Ratio (13.4x) compared to the US market (17.6x).
Price to Earnings Growth Ratio
Low PEG Ratio: BAP is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: BAP is overvalued based on its PB Ratio (2.2x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is Credicorp forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
11.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BAP's forecast earnings growth (11.2% per year) is above the savings rate (2.7%).
Earnings vs Market: BAP's earnings (11.2% per year) are forecast to grow slower than the US market (14.6% per year).
High Growth Earnings: BAP's earnings are forecast to grow, but not significantly.
Revenue vs Market: BAP's revenue (9.7% per year) is forecast to grow faster than the US market (7.2% per year).
High Growth Revenue: BAP's revenue (9.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
High Future ROE: BAP's Return on Equity is forecast to be low in 3 years time (17.7%).
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Past Performance
How has Credicorp performed over the past 5 years?
12.8%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: BAP's earnings have grown by 12.8% 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 (-3%) over the past year, making it difficult to compare to the Banks industry average (29.6%).
Return on Equity
High ROE: BAP's Return on Equity (16.6%) is considered low.
Return on Assets
ROA vs Industry: BAP has a higher Return on Assets than the Banks industry average last year.
Return on Capital Employed
ROCE Improving: Insufficient data to calculate BAP's Return on Capital Employed to determine if it has improved over the past 3 years.
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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
Inventory Level: BAP has a low level of unsold assets or inventory.
Debt Coverage by Assets: BAP's debt is covered by short term assets (assets are 1.617680x debt).
Financial Institutions Analysis
Asset Level: BAP's level of assets compared to its equity is low.
Allowance for Bad Loans: BAP has a sufficient allowance for bad loans.
Low Risk Liabilities: BAP's liabilities are made up of primarily low risk sources of funding.
Loan Level: BAP has an acceptable proportion of non-loan assets held.
Low Risk Deposits: BAP's loans are broadly funded by customer deposits.
Level of Bad Loans: BAP has a high level of bad loans (4.15%)
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Dividend
What is Credicorp's current dividend yield, its reliability and sustainability?
2.85%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: BAP's dividend (2.85%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: BAP's dividend (2.85%) is low compared to the top 25% of dividend payers in the US market (3.73%).
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 reasonably low payout ratio (38.1%), BAP's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BAP's dividends in 3 years are forecast to be well covered by earnings (45.5% payout ratio).
Next Steps
Management
What is the CEO of Credicorp's salary, the management and board of directors tenure and is there insider trading?
1.5yrs
Average management tenure
CEO
Walter Bayly Llona (63yo)
1.5yrs
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. ...
Management Age and Tenure
1.5yrs
Average Tenure
Experienced Management: BAP's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.
Board Age and Tenure
8.3yrs
Average Tenure
57yo
Average Age
Experienced Board: BAP's board of directors are considered experienced (8.3 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Management Team
Walter Bayly Llona (63yo)
Chief Executive Officer
- Tenure: 1.5yrs
Dionisio Romero Paoletti (54yo)
Executive Chairman of the Board
- Tenure: 10.8yrs
Alvaro Correa Malachowski
Deputy CEO & Head of Insurance and Pension Funds
- Tenure: 6yrs
Reynaldo Llosa Benavides
Chief Risk Officer
- Tenure: 7.8yrs
Bárbara Falero
Chief Compliance & Ethics Officer
- Tenure: 11.7yrs
César Ríos Briceño
Chief Financial Officer
- Tenure: 1.5yrs
José Luis Rivera
Head of Accounting
- Tenure: 0yrs
Guillermo Morales
Head of Legal
- Tenure: 1.5yrs
Bernardo Sambra
Chief of Human Resources Officer
- Tenure: 1.5yrs
Milagros Cigüeñas
Investor Relations Officer
- Tenure: 0.2yrs
Board Members
Benedicto Cigüeñas Guevara
Independent Director
- Tenure: 5.8yrs
Jose Raimundo Morales Dasso (73yo)
Independent Vice Chairman of the Board
- Tenure: 10.8yrs
Juan Carlos Verme Giannoni
Independent Director
- Tenure: 24.2yrs
Fernando Fort Marie
Director
- Tenure: 20.6yrs
Dionisio Romero Paoletti (54yo)
Executive Chairman of the Board
- Tenure: 10.8yrs
Luis Enrique Romero Belismelis (57yo)
Director
- Tenure: 2.6yrs
Patricia Lizárraga Guthertz
Independent Director
- Tenure: 2.6yrs
Martín Pérez Monteverde
Director
- Tenure: 5.6yrs
Company Information
Credicorp Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Credicorp Ltd.
- Ticker: BAP
- Exchange: NYSE
- Founded: 1995
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: US$16.684b
- Shares outstanding: 79.51m
- 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 |
| 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, I ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/19 23:45 |
| End of Day Share Price | 2019/10/18 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.