NYSE:BAP

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Executive Summary

Credicorp Ltd., a financial services holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. More Details


Snowflake Analysis

Excellent balance sheet with reasonable growth potential and pays a dividend.


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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: BAP's weekly volatility (8%) has been stable over the past year.


Market Performance


7 Day Return

16.4%

BAP

6.0%

US Banks

2.8%

US Market


1 Year Return

-26.6%

BAP

-17.4%

US Banks

20.9%

US Market

Return vs Industry: BAP underperformed the US Banks industry which returned -17.3% over the past year.

Return vs Market: BAP underperformed the US Market which returned 20.7% over the past year.


Shareholder returns

BAPIndustryMarket
7 Day16.4%6.0%2.8%
30 Day35.8%23.6%11.1%
90 Day19.3%17.6%6.5%
1 Year-21.5%-26.6%-14.3%-17.4%23.6%20.9%
3 Year-17.0%-26.6%-3.9%-11.9%47.3%37.6%
5 Year76.1%46.1%35.9%18.9%94.3%72.9%

Long-Term 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

Valuation

Is Credicorp undervalued compared to its fair value and its price relative to the market?

66.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BAP ($155.05) is trading above our estimate of fair value ($126.95)

Significantly Below Fair Value: BAP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BAP is poor value based on its PE Ratio (66.7x) compared to the US Banks industry average (11.4x).

PE vs Market: BAP is poor value based on its PE Ratio (66.7x) compared to the US market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: BAP is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: BAP is overvalued based on its PB Ratio (1.9x) compared to the US Banks industry average (0.9x).


Next Steps

Future Growth

How is Credicorp forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

80.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BAP's forecast earnings growth (80.6% per year) is above the savings rate (2.2%).

Earnings vs Market: BAP's earnings (80.6% per year) are forecast to grow faster than the US market (22% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BAP's revenue (11.7% per year) is forecast to grow faster than the US market (10.2% per year).

High Growth Revenue: BAP's revenue (11.7% 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?

-2.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BAP has high quality earnings.

Growing Profit Margin: BAP's current net profit margins (8.3%) are lower than last year (34.1%).


Past Earnings Growth Analysis

Earnings Trend: BAP's earnings have declined by 2% 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 (-84.3%) over the past year, making it difficult to compare to the Banks industry average (-4.3%).


Return on Equity

High ROE: BAP's Return on Equity (2.7%) 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 (9.6x) is low.

Allowance for Bad Loans: BAP has a sufficient allowance for bad loans (170%).

Low Risk Liabilities: 66% 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 (54%).

Low Risk Deposits: BAP's Loans to Deposits ratio (92%) is appropriate.

Level of Bad Loans: BAP has a high level of bad loans (4.2%).


Next Steps

Dividend

What is Credicorp current dividend yield, its reliability and sustainability?

5.36%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BAP's dividend (5.36%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: BAP's dividend (5.36%) is in the top 25% of dividend payers in the US market (4.08%)


Stability and Growth of Payments

Stable Dividend: BAP's dividend payments have been volatile 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 high payout ratio (357.6%), BAP's dividend payments are not 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 (36.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.6yrs

Average management tenure


CEO

Walter Bayly Llona (64 yo)

2.58yrs

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

NamePositionTenureCompensationOwnership
Luis Enrique Romero Belismelis
Executive Chairman of the Board0.42yrno datano data
Walter Bayly Llona
Chief Executive Officer2.58yrsno datano data
Cesar Rios Briceno
Chief Financial Officer2.58yrsno datano data
José Luis Rivera
Head of Accountingno datano datano data
Eduardo Dasso
Head of Investment Banking & Wealth Management1.83yrsno datano data
Milagros Cigüeñas
Investor Relations Officer1.25yrsno datano data
Barbara Falero
Chief Compliance & Ethics Officer12.75yrsno datano data
Guillermo Morales
Head of Legal2.58yrsno datano data
Enzo Tolentino
Head of On-Going Auditing & Corporate Developmentno datano datano data
Bernardo Sambra
Chief of Human Resources Officer2.58yrsno datano data
Alvaro Correa Malachowski
Deputy CEO and Head of Insurance & Pensions Funds7.08yrsno datano data
Reynaldo Llosa Benavides
Chief Risk Officer8.83yrsno datano data

2.6yrs

Average Tenure

Experienced Management: BAP's management team is considered experienced (2.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Luis Enrique Romero Belismelis
Executive Chairman of the Board0.42yrno datano data
Jose Raimundo Morales Dasso
Independent Vice Chairman of the Board11.83yrsno datano data
Fernando Fort Marie
Director21.67yrsno datano data
Patricia Lizarraga Guthertz
Independent Director3.67yrsno datano data
Irzio Pinasco Menchelli
Independent Director0.42yrno datano data
Maite Teresa Aranzabal Harreguy
Independent Director0.42yrno datano data
Alexandre Gouvea
Independent Director0.42yrno datano data
Antonio Abruña Puyol
Independent Director0.42yrno datano data
Leslie Diez Canseco
Director0.083yrno datano data

0.4yrs

Average Tenure

61yo

Average Age

Experienced Board: BAP's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.


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$12.312b
  • Shares outstanding: 79.41m
  • Website: https://credicorp.gcs-web.com

Number of Employees


Location

  • Credicorp Ltd.
  • Clarendon House
  • 2 Church Street
  • Hamilton
  • HM CX
  • Bermuda

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BAPNYSE (New York Stock Exchange)YesCommon SharesUSUSDOct 1995
BAPBVL (Bolsa de Valores de Lima)YesCommon SharesPEUSDOct 1995
BAP NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNOct 1995
D8VDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 1995
0U8NLSE (London Stock Exchange)YesCommon SharesGBUSDOct 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/28 23:08
End of Day Share Price2020/11/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.