Credicorp .(US:BAP) GlobeNewswire News Roomยท2024-09-26 20:49Core Insights - Credicorp Ltd. is committed to sustainable growth through innovation and disciplined digital disruption initiatives, aiming to achieve a sustainable ROE target of 18% despite challenging macroeconomic conditions [1][3]. Group 1: Strategic Goals and Performance - The company aims to generate 10% of its risk-adjusted revenues from new business models by 2026, supported by a disciplined growth approach and prudent financial management [2]. - Credicorp's BCP achieved a ROE of 23.7% in the first half of the year, with Yape reaching break-even in May 2024, indicating strong performance and positive trends expected to continue through 2025 and 2026 [3]. Group 2: Innovation and Market Expansion - The Chief Innovation Officer outlined strategies for self-disruption to gain market penetration, expand total addressable market (TAM), and accelerate key capabilities [4]. - Credicorp has set investment limits for disruptive initiatives to ensure they do not negatively impact ROE by more than 150 basis points or Cost-to-Income by more than 350 basis points annually [5]. Group 3: Future Aspirations - Yape's new aspirations for 2026 include reaching 16.5 million active users, an increase of 6.5 million from previous targets, and achieving S/ 600 billion in transactions per year, up from S/ 100 billion [7]. - The company is focused on penetrating markets with new value propositions and exploring untapped business segments while adopting transformative technologies [8]. Group 4: Company Overview - Credicorp Ltd. is the leading financial services holding company in Peru, with operations in Chile, Colombia, and Bolivia, and a diversified portfolio across Universal Banking, Microfinance, Insurance & Pension Funds, and Investment Banking & Wealth Management [9].