NYSE:BAP

Stock Analysis Report

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

-1.5%

BAP

-0.7%

US Banks

-0.2%

US Market


1 Year Return

-6.6%

BAP

-6.4%

US Banks

1.1%

US Market

BAP underperformed the Banks industry which returned -5.6% over the past year.

BAP underperformed the Market in United States of America which returned 1.6% over the past year.


Share holder returns

BAPIndustryMarket
7 Day-1.5%-0.7%-0.2%
30 Day2.9%9.1%2.5%
90 Day-6.1%5.1%1.6%
1 Year-4.2%-6.6%-3.8%-6.4%3.4%1.1%
3 Year48.3%35.2%54.4%43.7%45.2%35.8%
5 Year56.2%38.1%64.6%46.8%62.6%44.8%

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

Valuation

Is Credicorp undervalued based on future cash flows and its price relative to the stock market?

7%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Credicorp's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Credicorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Credicorp is overvalued based on earnings compared to the US Banks industry average.

Credicorp is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Credicorp is poor value based on expected growth next year.


Price Based on Value of Assets

Credicorp is overvalued based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is Credicorp expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

11.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Credicorp's revenue is expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).

Credicorp's earnings are expected to grow by 11.8% yearly, however this is not considered high growth (20% yearly).

Credicorp's revenue growth is expected to exceed the United States of America market average.

Credicorp's earnings growth is positive but not above the United States of America market average.

Credicorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Credicorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

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

Credicorp's year on year earnings growth rate has been positive over the past 5 years.

Credicorp's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Credicorp's 1-year earnings growth is negative, it can't be compared to the US Banks industry average.


Return on Equity

Credicorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Credicorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Credicorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


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

Information is not available.

Information is not available.


Financial Institutions Analysis

Credicorp has an acceptable proportion of non-loan assets held.

Credicorp has a sufficient allowance for bad loans.

Credicorp's liabilities are made up of primarily low risk sources of funding.

Credicorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at Credicorp are broadly funded by customer deposits.

Credicorp has a high level of bad loans (greater than 2%).


Next Steps

Dividend

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

3.77%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Credicorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).

Credicorp's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.6x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).


Next Steps

Management

What is the CEO of Credicorp's salary, the management and board of directors tenure and is there insider trading?

1.4yrs

Average management tenure


CEO

Walter Bayly Llona (63yo)

1.4yrs

Tenure

0

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

1.4yrs

Average Tenure

The average tenure for the Credicorp management team is less than 2 years, this suggests a new team.


Board Age and Tenure

8.2yrs

Average Tenure

57yo

Average Age

The tenure for the Credicorp board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Walter Bayly Llona (63yo)

    Chief Executive Officer

    • Tenure: 1.4yrs
  • Dionisio Romero Paoletti (54yo)

    Executive Chairman of the Board

    • Tenure: 10.7yrs
  • Alvaro Correa Malachowski

    Deputy CEO & Head of Insurance and Pension Funds

    • Tenure: 5.9yrs
  • Reynaldo Llosa Benavides

    Chief Risk Officer

    • Tenure: 7.7yrs
  • Bárbara Falero

    Chief Compliance & Ethics Officer

    • Tenure: 11.6yrs
  • César Ríos Briceño

    Chief Financial Officer

    • Tenure: 1.4yrs
  • José Luis Rivera

    Head of Accounting

    • Tenure: 0yrs
  • Guillermo Morales

    Head of Legal

    • Tenure: 1.4yrs
  • Bernardo Sambra

    Chief of Human Resources Officer

    • Tenure: 1.4yrs
  • Milagros Cigüeñas

    Investor Relations Officer

    • Tenure: 0.08yrs

Board Members

  • Benedicto Cigüeñas Guevara

    Independent Director

    • Tenure: 5.7yrs
  • Jose Raimundo Morales Dasso (73yo)

    Vice Chairman of the Board

    • Tenure: 10.7yrs
  • Juan Carlos Verme Giannoni

    Independent Director

    • Tenure: 24.1yrs
  • Fernando Fort Marie

    Director

    • Tenure: 20.5yrs
  • Dionisio Romero Paoletti (54yo)

    Executive Chairman of the Board

    • Tenure: 10.7yrs
  • Luis Enrique Romero Belismelis (57yo)

    Director

    • Tenure: 2.5yrs
  • Patricia Lizárraga Guthertz

    Independent Director

    • Tenure: 2.5yrs
  • Martín Pérez Monteverde

    Director

    • Tenure: 5.5yrs

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$16.866b
  • Shares outstanding: 79.51m
  • 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
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 Analysis2019/09/20 00:23
End of Day Share Price2019/09/19 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.