How Does Credicorp Company Actually Work?

Banco de Credito del Peru (BCP) offers deposits, mortgages, debit/credit cards, and corporate loans; Mibanco provides microfinance lending; Pacifico Seguros issues health, life, and property insurance; Credicorp Capital delivers wealth management and investment banking; Yape powers digital payments, micro-loans, and marketplace services.

Retail consumers (over 14 million for BCP), informal entrepreneurs served by Mibanco, large corporates (about 90 percent of Peru's largest firms via BCP), insurance policyholders across Peru, and wealth clients across the Andean region; Yape reported ~16 million monthly active users in 2025.

Customers get access to integrated financial services that span savings, credit, protection, and investment, enabling financial inclusion and business growth; scale and trust matter: BCP's universal banking reach and Mibanco's microfinance portfolio (>$4.5 billion in 2024) lower friction for clients to move between products.

Market leadership in Peru's banking market, diversified revenue across banking, insurance, and capital markets, and a digital-first push via Yape make offerings convenient and sticky; strategic goals include Pacifico growing to 15 million clients by 2030. Read more on strategic direction in Where Credicorp Company Is Going.

Net Interest Income (NII) is Credicorp's largest revenue source, driven by the spread between lending yields and deposit costs; low-cost transactional deposits made up roughly 61.4 to 69.8 percent of funding by late 2025, enabling an industry-leading Net Interest Margin of 6.6 percent in late 2025.

Fee-based revenue comes from retail transactional services, asset management, and the Yape payments marketplace; these sources contributed about 7.2 percent of risk-adjusted revenues by end-2025, adding recurring, non-interest diversification to the Credicorp business model.

Pacifico (Credicorp subsidiary) collects insurance premiums and achieved a 21.4 percent ROE in 2025, contributing underwriting profits and investment income that complement banking operations.

Credicorp monetizes via interest spreads on loan portfolios, transaction fees, management fees, insurance premiums, and occasional investment-banking fees-mixing volume-driven margins with recurring subscription-like fee income from asset management and payments.

Credicorp holds roughly 34-37 percent of Peru's loan market and about 35 percent of deposits, which gives Credicorp how it works an effective pricing and low-cost funding advantage that competitors struggle to match.

Yape's scale lowers customer acquisition costs for Gen Z and Millennials, decoupling growth from branch expansion and strengthening Credicorp digital banking platforms as a growth engine.

About 88 percent of total assets are in Peru, creating high sensitivity to Peruvian macro and political shocks, notably the uncertainty around the April 2026 general elections.

Mibanco's portfolio is exposed to informal borrowers; nonperforming loans improved to 4.5 percent by December 2025, but a sharp downturn would disproportionately raise NPLs and provisioning.