Financial Performance - Net Income attributable to Credicorp increased 22.6% YoY to S/1,401 million, resulting in a ROE of 18.6%[5] - Net Income attributable to Credicorp reached S/1,401 million, up 1.2% QoQ and 22.6% YoY, with a ROE of 18.6%[30] - BCP Stand-alone reported 8.5% YoY growth in Net Income, mainly from an increase in Net Interest Income (NII)[35] - Net profit for 2Q23 reached S/1,429,817, reflecting a 22.1% increase year-over-year[38] - Total other income increased by 19.7% year-over-year to S/1,433,786 in 2Q23[38] Loan and Deposit Trends - Structural Loans measured in average daily balances declined 0.6% QoQ but increased 5.5% YoY, driven by growth in Retail Banking at BCP[5] - Total Deposits at quarter-end declined 3.5% QoQ and 2.7% YoY, with Credicorp maintaining a 40.6% market share in low-cost deposits[5] - Total loans as of June 2023 amounted to S/137,905 million, reflecting a QoQ decrease of 0.5% and a YoY increase of 1.6%[66] - Government Program Loans dropped 26.7% QoQ and 64.3% YoY, representing 3.9% of total loans at quarter-end[59] - The loan portfolio quality showed an NPL ratio of 5.64% in 2Q23, an increase of 46 basis points year-over-year[38] Risk and Provisions - The Structural NPL ratio increased 23 bps QoQ to 5.3%, influenced by social unrest and high inflation[6] - Structural Provisions increased 10.5% QoQ and 124.3% YoY, reflecting a challenging macroeconomic environment[7] - Structural Cost of Risk stood at 2.3%, reflecting the impact of adverse macroeconomic conditions on client payment capacity[22] - The coverage ratio of NPLs decreased to 98.7% in 2Q23, down 790 basis points year-over-year[38] - Provisions for credit losses on the loan portfolio rose to S/ 882,156,000 in 2Q23, reflecting a 10.4% increase QoQ and a 100.3% increase YoY[108] Efficiency and Cost Management - The Efficiency Ratio improved 310 bps YoY to 44.4% for 1H23, despite a seasonal increase in 2Q23[9] - The efficiency ratio improved to 44.6% in 2Q23, a decrease of 310 basis points year-over-year[38] - Operating expenses increased 9.1% YoY, primarily due to expenses at BCP and disruptive initiatives[29] - Total operating expenses reached S/2,103,072 in Q2 2023, reflecting a 3.2% QoQ increase[140] - Disruptive expenses surged by 69.6% YTD, representing 9.0% of total operating expenses, attributed to investments in various digital initiatives[147] Digital Engagement and User Metrics - Monthly active users (MAU) of Yape reached 9.0 million, with monthly revenue per MAU up 32% QoQ to S/2.5[10] - Yape reached 12.6 million users by the end of Q2 2023, with 9.0 million monthly active users (MAU), representing a 70% engagement rate[44] - In Q2 2023, Yape executed 615 million transactions, totaling S/53 billion year-to-date, averaging 25 transactions per MAU[44] - Yape users made over 34.4 million mobile top-ups in Q2 2023, marking a 13.3% increase from Q1 2023 and a 208% increase from Q2 2022[46] - Yape's Net Promoter Score (NPS) reached 78 points in Q2 2023, indicating strong user satisfaction[49] Capital and Regulatory Ratios - The CET1 Ratio for BCP at quarter-end was 12.8%, up 123 bps YoY and 87 bps QoQ[9] - Credicorp's Tier 1 ratio increased to 12.75% in 2Q23, up 89 basis points from the previous quarter[38] - The Global Capital Ratio at BCP Stand-alone reached 17.2%, up 75 bps QoQ, driven by the same factors affecting the IFRS CET1 Ratio[156] - Credicorp's Regulatory Capital Ratio stood 1.46 times above the minimum requirement, with a slight QoQ increase of 3 bps[153] - The structural allowance for loan losses stood at S/ 7,824 million, reflecting a QoQ increase of 0.6% but a YoY decrease of 3.6%[66] Economic Environment and Challenges - In 2Q23, the Peruvian economy is expected to have contracted around 0.5% YoY, marking its worst performance in 22 years, excluding the pandemic[163] - Inflation closed 2Q23 at 6.5% YoY, after remaining above or close to 8.0% for 14 consecutive months[166] - The annualized fiscal deficit rose to 2.6% of GDP in the last 12 months to June 2023, with tax revenues falling 14.2% YoY[168] - The trade balance surplus rose to USD 11.6 billion by May 2023, although exports fell 3.2% YoY to USD 64.9 billion[169] - The Central Reserve Bank of Peru maintained the monetary policy rate at 7.75%, its highest level since January 2023[166] IFRS 17 Implementation - The implementation of IFRS 17 resulted in a net equity increase of S/. 10 million for Pacifico Seguros by the end of December 2022 compared to IFRS 4[186] - The aggregate impact of implementing IFRS 17 on the net earnings of Credicorp was not material, amounting to S/. 15 million[192] - The recognition of insurance underwriting income under IFRS 17 is fundamentally different, requiring present value measurements of insurance obligations[190] - The adjustment in the Efficiency Ratio reflects a more accurate representation of the company's operational efficiency[199] - The company is transitioning to IFRS 17, which may affect future financial reporting and performance metrics[199]

Financial Data and Key Metrics Changes - Net income increased by 22.6% year-on-year, with a return on equity (ROE) of 18.6% for the quarter, driven by strong results in Universal Banking and Insurance businesses [8][35] - Net interest income (NII) grew by 21.5%, primarily due to rising interest rates and structural loan dynamics, despite higher funding costs [13][28] - The structural cost of risk increased by 127 basis points to 2.3%, mainly driven by SME-Pyme and vulnerable individual segments [13][32] Business Line Data and Key Metrics Changes - Universal Banking and Insurance businesses were the main contributors to positive results, with BCP's NII increasing by 29.6% year-on-year [19][35] - Mibanco's profitability began to recover, with NII rising by 4.6% quarter-over-quarter, and ROE rebounding to 9.5% [22][24] - Grupo Pacifico's net income increased by 32.1%, driven by the Life business, with improved profitability in life insurance and property segments [25][35] Market Data and Key Metrics Changes - The Peruvian economy is expected to have contracted by 0.5% year-on-year in the first half of 2023, marking the most significant decline in 22 years, excluding the pandemic period [15][16] - Domestic demand fell by 2% year-on-year in the first half, driven by a sharp 10% decline in private investment [16] - The GDP growth forecast for Peru in 2023 is now 1%, with expectations of a rebound to around 2% in the second half [9][36] Company Strategy and Development Direction - The company is focusing on expanding its retail business and increasing non-interest income through adjacent businesses [5][6] - There is a commitment to enhancing governance and transparency while pursuing social impact initiatives [7] - The strategy includes investing in disruptive initiatives like Yape, which is expected to reach breakeven by 2024 [6][21] Management's Comments on Operating Environment and Future Outlook - Management noted that the political scenario improved, but social unrest and climate events impacted the first half of the year [8][9] - The company anticipates softer results in the second half of the year due to challenging macroeconomic conditions [14][36] - The impact of El Nino is being closely monitored, with expectations of a weak to moderate effect on the economy [10][36] Other Important Information - The efficiency ratio improved by 310 basis points to 44.6%, reflecting strong income growth [13][35] - The company maintained a market share of 41% in low-cost deposits, despite a system-wide contraction [12][28] - Yape's monthly active users reached 9 million, with significant growth in transaction volumes [21][22] Q&A Session Summary Question: ROE guidance and compensation for softer loan growth - Management maintained ROE guidance at 17.5%, expecting to offset softer loan growth with higher non-interest income and seasonal increases in expenses [40][43] Question: Cost of risk expectations for next year - Management indicated uncertainty for next year's cost of risk, with expectations for improvement based on risk management efforts [45][46] Question: Strategies to improve ROEs across subsidiaries - A transformation plan is in place for Mibanco aiming for ROE of 16% to 17% by 2025, while BCP Bolivia's ROE is stable compared to the banking system [48][49] Question: Yape's monetization and growth drivers - Growth in Yape's transaction volumes is driven by P2P transactions and merchant services, with ongoing efforts to enhance monetization [51][53] Question: Sustainability of insurance results - Management expects sustainable ROI around the low 20s for the insurance business, despite potential reductions in collective group life business [72][73] Question: Sensitivity of margin to lower rate environment - The sensitivity of margin to a 100 basis point cut in rates is around 25 basis points, with expectations to maintain current NIM levels [76][78]

Credicorp Ltd (NYSE:BAP) Q1 2023 Earnings Conference Call May 8, 2023 10:30 AM ET Company Participants Milagros Ciguenas - Investor Relations Officer Gianfranco Ferrari - Chief Executive Officer Cesar Rios - Chief Financial Officer Reynaldo Llosa - Chief Risk Officer Conference Call Participants Ernesto Gabilondo - Bank of America Rene Perez - Scotiabank Olavo Arthuzo - UBS Geoffrey Elliott - Autonomous Nicholas Walker - Goldman Sachs Tejkiran Magesh - WhiteOak Capital Alonso Aramburu - BTG Andres Soto - Sa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...

Exhibit 99.1 Annual and Sustainability Report 2022 1 Annual Report | --- | --- | --- | |--------------------------------------------------------|-------|-------| | Letter from the Chairman of t h e B o a r d | 3 | | | O u r P u r p o s e, Visio n a n d Valu e s | 7 | | | S t a t e m e n t o f r e s p o n sibilit y | 8 | | | C r e dic o r p a t a gla n c e | 9 | | | G r o u p D e s c rip tio n | 1 1 | | | O u r b u sin e s s e s in 2 0 2 2 | 1 8 | | | | | | | E c o n o mic E n vir o n m e n t | 2 1 | | | E c ...

Financial Data and Key Metrics Changes - Credicorp reported a net income growth of almost 30% for the full year, with a return on equity (ROE) of 16.7% [10] - The structural non-performing loan (NPL) ratio edged up to 4.95%, while the structural cost of risk increased by 85 basis points to 2.06% [15][36] - The company maintained a strong capital base and a diversified business portfolio, with a coverage level of 112.2% for structured and non-performing loans [17][36] Business Line Data and Key Metrics Changes - BCP achieved an ROE of 22% for the year, while Mibanco is on track to deliver expected ROEs [11] - Pacifico reached an ROE of 19.2%, showing improvement in its business performance [11] - The investment banking and wealth management business faced challenges, requiring a strategic review to enhance ROEs [11][30] Market Data and Key Metrics Changes - Peru's GDP is expected to grow around 2% in 2023, with social unrest impacting the economic outlook [19][40] - Inflation in the U.S. is trending downward, positively affecting metal prices, which is crucial for Peru's exports [18] - The Central Bank of Peru is likely to maintain high interest rates due to ongoing political and social challenges [19][40] Company Strategy and Development Direction - Credicorp is focusing on sustainability as a core part of its business strategy, aiming to drive financial inclusion and education in the Andean region [7][8] - The company is investing significantly in digital transformation and disruptive initiatives to enhance its competitive position [41] - A strategic review of the investment banking and wealth management business is underway to identify growth opportunities and efficiencies [30] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the political turmoil and social unrest in Peru, which pose near-term headwinds [12] - Despite challenges, the company remains optimistic about its ability to navigate volatility and achieve sustainable growth [10][40] - The guidance for 2023 includes expectations for structural loan portfolio growth of 6% to 10% and a return on equity around 17.5% [41] Other Important Information - Yape, a digital payment platform, has over 11 million users, with significant growth in transactional volume [24] - Mibanco's structural NPL ratio dropped to 5% due to write-offs, but profitability decreased due to increased provisions [26] - Grupo Pacifico's net income decreased 25.4% quarter-over-quarter, but showed recovery in the Life and Property & Casualty businesses [28] Q&A Session Summary Question: On operating expenses and digital investment strategy - Management believes the current digital strategy is appropriate and sees a faster path to monetization due to reduced competition [46][47] Question: On asset quality and provision charges - Management indicated that the cost of risk guidance reflects uncertainty in the macroeconomic environment and a shift towards retail lending [49][50] Question: On ROE guidance for 2023 - Management explained that the guidance for ROE at 17.5% considers various factors, including the expected cost of risk and growth in retail lending [52][54] Question: On deposits and funding breakdown - Management discussed the impact of the pandemic on deposit structures and the expected normalization of funding sources, with Yape contributing to deposit growth [71][74]

Credicorp Ltd (NYSE:BAP) Q3 2022 Earnings Conference Call November 4, 2022 10:30 AM ET Company Participants Milagros Ciguenas - Head, IR Gianfranco Ferrari - CEO Francesca Raffo - Chief Innovation Officer Cesar Rios - CFO & Head, Finance Reynaldo Llosa - Chief Risk Officer Conference Call Participants Jason Mollin - Scotiabank Ernesto Gabilondo - Bank of America Merrill Lynch Thiago Batista - UBS Daer Labarta - Goldman Sachs Carlos Gomez - HSBC Sergey Dubin - Harding Loevner Andres Soto - Santander Yuri Fer ...

Financial Performance - Core income increased by 17.5% year-over-year, with a return on equity (ROE) of 19.6%[9] - Net Interest Income (NII) increased by 22.5% year-over-year, and fees increased by 6.6% year-over-year[48] - The Common Equity Tier 1 (CET1) ratio for BCP was 11.8% and for Mibanco was 16.0%[9,48] - Earnings contribution was 75.7% from Universal Banking, 9.9% from Microfinance, 12.5% from Insurance & Pensions, and 1.9% from IB & WM[48] Digitalization and Customer Engagement - BCP's digital clients represent 63% of their client base[9,36] - Digital clients have 2.8 products compared to 1.6 products for non-digital clients[32] - Digital monetary transactions are 19.2 times higher for digital clients compared to non-digital clients[32] - Yape has over 10 million users and aims for 150 billion S/ in annual volume transacted by 2024[43,45] Risk Management and Asset Quality - Structural Non-Performing Loan (NPL) coverage ratio was 113.3%[9] - Structural Cost of Risk (CoR) was 1.22%[9] - Structural loans increased by 10.8% year-over-year[48]

Financial Performance & Strategy - Credicorp's strategy is validated by key 2Q22 indicators and financial performance[8] - Credicorp remains focused on driving sustainable growth, highlighting consolidated profitability and building disruptors[11] - Credicorp is rearming its appetite for strengthening and consolidating leading core businesses[13] - Core income increased by 15% year-over-year[9] - Return on Equity (ROE) reached 16.9%[9] Key Business Units - Banco de Credito del Peru (BCP) standalone contributed 78.9% to earnings[42] with an ROE of 17.8%[43] - BCP's digital clients represent 58% of total clients[9, 43], with digital sales increasing by 37%[43] - Yape has over 9 million users and is evolving into a super app[45] - Microfinance, including Mibanco, contributed 10.5% to earnings[26] - Insurance & Pensions contributed 8.9% to earnings[27] Financial Metrics & Outlook - Structural loans increased by 14.1% year-over-year[25] - Net Interest Income (NII) increased by 18.7% year-over-year[26] - The structural cost of risk was 1.08%[26] - The company anticipates real GDP growth of 2.5% for the year[9]

Credicorp Ltd. (NYSE:BAP) Q2 2022 Results Conference Call August 12, 2022 10:30 AM ET Company Participants Milagros Cigüeñas - IRO Gianfranco Ferrari - CEO Cesar Rios - CFO Francesca Raffo - Chief Innovation Officer Reynaldo Llosa - Chief Risk Officer Diego Cavero - Head, Universal Banking Cesar Rivera - Head, Insurance and Pensions Conference Call Participants Ernesto Gabilondo - Bank of America Jason Mollin - Scotiabank Andres Soto - Santander Alonso Garcia - Credit Suisse Tito Labarta - Goldman Sachs Thi ...