Credicorp Donates S/ 110 million to Support Vulnerable Peruvian Families

Lima, March 24, 2020 (GLOBE NEWSWIRE) -- Lima, PERU, March 23th, 2020 – Credicorp Ltd.announces that its subsidiaries, Banco de Credito del Peru (BCP) and Mibanco, decided to donate S/ 100 million and S/ 10 million, respectively, initiating a donation fund to support Peruvian families that are under a situation of poverty or extreme poverty, whose income has beenaffected by the national emergency declared related toCOVID-19. Moreover, BCP launched a campaign, to motivate other companies and individuals, to join and increase the donation fund solidarizing with the most vulnerable families.

Given the declaration of a national emergency by the Peruvian government through Supreme Decree No. 044-2020-PCM, which orders social isolation to prevent the transmission of COVID-19 in Peru, the most affected population will be those who live generating income on adaily basis. The Peruvian government is already supporting each of these families through a S/ 380 one-off payment (“solidarity bonus”), and Credicorp, through its subsidiaries BCP and Mibanco, is additionally committingto further support these families. 

Additionally, BCP proactively launched the campaign “Yo me sumo” (“I join”), motivating other companies and people in general to join this social initiative and donateresources to help the most needed population. As such, BCP is making available all its digital channels (Home Banking, Mobile Banking and Yape) to facilitate clientdonations. Non-clients will be able to donate through interbank transfers, and through branches and agentesacross Peru. ¨Porque cada sol suma, Yo me sumo”(Because each sol counts, I join the count), says the campaign.

As the leading financial institution operating for 131 years in Peru, BCP is committed, more than ever, to support the most vulnerable population during this difficult time, and through the “Yo me sumo” campaign, it expects to encourage other companies and individuals to do the same. Mibanco, joined this initiative showing strong commitment and contributing to alleviate basic needs of the affected population in Peru.

The distribution of the fund to the families will be made through the same mechanism the Ministry of Development and Social Inclusion has put in place to distribute the solidarity bonus to these families.

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: 

Investor Relations

Credicorp Ltd.