Credicorp Ltd.: Credicorp completes acquisition of microfinance bank Bancompartir in Colombia
December 02 2019 - 7:23PM
Lima, PERU, December 2, 2019 – Credicorp Ltd.
(NYSE: BAP) announces that after obtaining the necessary regulatory
approvals, it has completed, through its subsidiary Credicorp
Holding Colombia S.A.S., the acquisition of 77.46% of the capital
stock of Banco Compartir S.A. (“Bancompartir”) for approximately
USD 76 million. Credicorp Ltd. had previously announced an
agreement for this acquisition on June 28, 2019.
Founded in 1985, Bancompartir is one of the top
four microfinance banks in Colombia with over 1,800 employees
serving 450,000 customers across 106 branches nationwide.
Bancompartir provides microfinance and SME financing solutions to
micro entrepreneurs and other underserved segments of the
population, generating opportunity for progress and quality of life
improvement to thousands of families in Colombia. As of September
30, 2019, Bancompartir had a loan portfolio of USD 230 million,
total deposits of USD 236 million and a book value of USD 46
million.
This acquisition represents an important step to
expand Credicorp Ltd.’s microfinance business in Latin America.
Colombia is one of the countries with the largest potential for
microfinance, and with Bancompartir and Encumbra, Credicorp Ltd. is
well positioned to become a market leader. With this acquisition,
Credicorp Ltd. has a combined microfinance loan portfolio of
USD 3.3 billion and over 2 million microfinance customers in Peru,
Colombia and Bolivia.
About Credicorp
Credicorp Ltd. (NYSE: BAP) is the leading
financial services holding company in Peru with presence in Chile,
Colombia and Bolivia. Credicorp has a diversified business
portfolio organized into four lines of business: Universal Banking,
through Banco de Credito del Peru - BCP and Banco de Credito de
Bolivia; Microfinance, through Mibanco and Encumbra; Insurance
& Pension Funds, through Grupo Pacifico and Prima AFP; and
Investment Banking & Wealth Management, through Credicorp
Capital, Wealth Management at BCP and Atlantic Security Bank.
For further information please contact the IR
team:
investorrelations@credicorpperu.com.pe
Investor Relations
Credicorp Ltd.
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