Banco de Crédito del Perú is the largest

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

and the largest supplier of integrated

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

Peru Peru, officially the Republic of Peru, is a country in western South America. It is bordered in the north by Ecuador and Colombia, in the east by Brazil, in the southeast by Bolivia, in the south by Chile, and in the south and west by the Pac ...

with approximately US$39 billion in total assets and a

market share Market share is the percentage of the total revenue or sales in a Market (economics), market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those ...

of 30.4% in total

loans In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt ( ...

and 33.5% in total

deposits A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. ...

Operations

BCP has more than 133 years of presence in the country and represents Peru's most valuable brand. Its network of more than 8,340 points of contact serves its more than 6 million clients. BCP is the main subsidiary of Credicorp
NYSE: BAP
, the largest financial holding in Peru. BCP's

Wholesale Banking Wholesale banking is the provision of services by banks to larger customers or organizations such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, ...

competes with local and foreign banks and provides its customers with short and medium-term loans in local and foreign currencies, foreign trade-related financing,

lease A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

financing, underwriting and

financial advisory Corporate services or business services are activities which combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) ...

. Its currently the market leader with a market share of more than 40% in corporate loans. BCP's

Retail Banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...

serves individuals and small-sized companies with a wide range of high value-proposition products with a market share of over 20%. In addition, BCP is the largest capital market and brokerage distribution system in Peru; its main activities include

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

, foreign exchange transactions, treasury, custody and trust, investment advisory services, and research activities.

History

Banco de Crédito del Perú (BCP), was founded by a group of Italian-Peruvian businessmen on April 9, 1889, and called during its first 52 years "''Banco Italiano''" ("Italian Bank"), adopting a credit policy based on the principles that would guide institutional behavior in the future. On February 1,

1942 The Uppsala Conflict Data Program project estimates this to be the deadliest year in human history in terms of conflict deaths, placing the death toll at 4.62 million. However, the Correlates of War estimates that the prior year, 1941, was th ...

, it was agreed to replace the old corporate name to Banco de Crédito del Perú. In order to achieve greater international presence, BCP opened branches in Nassau and

New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...

, which made it the only Peruvian Bank present in two of the most important financial centers of the world. The expansion of BCP's activities created the need for a new headquarter for central management. To that end, a building of 30,000 m2 approximately was built in the district of La Molina (In 2004 the Miami chapter of the

American Institute of Architects The American Institute of Architects (AIA) is a professional organization for architects in the United States. It is headquartered in Washington, D.C. AIA offers education, government advocacy, community redevelopment, and public outreach progr ...

awarded the Banco de Crédito headquarters building the AIA Test of Time Award.''AIA 2004 Chapter Awards''
AIA Miami Site
). Then, with the aim of improving its services, BCP established the National Network of Tele Process, which in late 1988 connected almost every office in the country with the central computer of

Lima Lima ( ; ), founded in 1535 as the Ciudad de los Reyes (, Spanish for "City of Biblical Magi, Kings"), is the capital and largest city of Peru. It is located in the valleys of the Chillón River, Chillón, Rímac River, Rímac and Lurín Rive ...

. Also, the Current and Savings Account National Book was created and an extensive network of ATMs was installed. In 2010, BCP acquired Edyficar, a

micro-finance Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; saving ...

company in

. Later, in 2014, Edyficar bought and merged with Mibanco, which made it the leader in the micro-lending business in the Peruvian Financial System. Walter Bayly Llona served as CEO from 2008 to 2018.

References

External links

* {{DEFAULTSORT:Banco de Credito del Peru 1889 establishments in Peru Banks of Peru Banks established in 1889 Peruvian brands