Crediciorp Ltd.: Credicorp Highlights Growth Initiatives Driven by Innovation Strategy and Positive Outlook at the 2024 Strategic Update
Credicorp hosted its 2024 Strategic Update, highlighting growth initiatives driven by innovation and a positive outlook. The company remains on track to achieve a sustainable 18% ROE target despite challenging macroeconomic conditions. Key points include:
1. BCP achieved a 23.7% ROE in the first half of the year.
2. Yape reached break-even in May, earlier than forecasted.
3. The company aims to generate 10% of risk-adjusted revenues from new business models by 2026.
4. Innovation strategy focuses on market penetration, expanding TAM, and accelerating key capabilities adoption.
5. Investment in disruption is to 150 basis points of Credicorp's ROE and 350 basis points of Cost-to-Income per year.
Yape's 2026 aspirations include 16.5 million active users and S/ 600 billion in annual transactions. The company maintains a disciplined approach to growth, aligning with strategic objectives and prudent financial management.
Credicorp ha ospitato il suo Aggiornamento Strategico 2024, evidenziando le iniziative di crescita guidate dall'innovazione e un outlook positivo. L'azienda rimane in linea per raggiungere un obiettivo di ROE sostenibile del 18% nonostante le difficili condizioni macroeconomiche. I punti chiave includono:
1. BCP ha raggiunto un ROE del 23,7% nel primo semestre dell'anno.
2. Yape ha raggiunto il pareggio a maggio, prima del previsto.
3. L'azienda mira a generare il 10% dei ricavi aggiustati per il rischio da nuovi modelli di business entro il 2026.
4. La strategia di innovazione si concentra sulla penetrazione del mercato, l'espansione del TAM e l'accelerazione dell'adozione delle capacità chiave.
5. L'investimento nelle disruption incide per 150 punti base sul ROE di Credicorp e per 350 punti base sul rapporto Costi/Entrate all'anno.
Le aspirazioni di Yape per il 2026 includono 16,5 milioni di utenti attivi e S/ 600 miliardi di transazioni annuali. L'azienda mantiene un approccio disciplinato alla crescita, allineandosi con obiettivi strategici e una gestione finanziaria prudente.
Credicorp llevó a cabo su Actualización Estratégica 2024, destacando iniciativas de crecimiento impulsadas por la innovación y una perspectiva positiva. La compañía sigue en camino para lograr un ROE sostenible del 18% a pesar de las desafiantes condiciones macroeconómicas. Los puntos clave incluyen:
1. BCP logró un ROE del 23,7% en la primera mitad del año.
2. Yape alcanzó el umbral de rentabilidad en mayo, antes de lo previsto.
3. La compañía tiene como objetivo generar el 10% de los ingresos ajustados por riesgo a partir de nuevos modelos de negocio para 2026.
4. La estrategia de innovación se centra en la penetración de mercado, la expansión del TAM y la aceleración en la adopción de capacidades clave.
5. La inversión en disrupción afecta 150 puntos básicos del ROE de Credicorp y 350 puntos básicos en la relación Coste-Ingresos por año.
Las aspiraciones de Yape para 2026 incluyen 16,5 millones de usuarios activos y S/ 600 mil millones en transacciones anuales. La compañía mantiene un enfoque disciplinado hacia el crecimiento, alineándose con objetivos estratégicos y una gestión financiera prudente.
Credicorp는 2024 전략 업데이트를 개최하여 혁신에 의해 추진되는 성장 이니셔티브와 긍정적인 전망을 강조했습니다. 이 회사는 어려운 거시 경제적 조건에도 불구하고 지속 가능한 18% ROE 목표를 달성하기 위한 계획을 유지하고 있습니다. 주요 사항은 다음과 같습니다:
1. BCP는 상반기에 23.7%의 ROE를 달성했습니다.
2. Yape는 예상보다 이른 5월에 손익 분기점을 도달했습니다.
3. 이 회사는 2026년까지 새로운 비즈니스 모델에서 위험 조정 수익의 10%를 생성할 계획입니다.
4. 혁신 전략은 시장 침투, TAM 확장 및 주요 기능 채택의 가속화에 중점을 둡니다.
5. 파괴에 대한 투자는 Credicorp의 ROE에서 150bp, 연간 수익비용 비율에서 350bp에 해당합니다.
Yape의 2026년 목표에는 1,650만 활성 사용자와 연간 S/ 6000억의 거래가 포함됩니다. 이 회사는 전략적 목표와 신중한 재정 관리를 정렬하면서 성장에 대한 규율 있는 접근을 유지합니다.
Credicorp a organisé sa Mise à Jour Stratégique 2024, mettant en avant des initiatives de croissance pilotées par l'innovation et un outlook positif. L'entreprise reste sur la bonne voie pour atteindre un objectif de ROE durable de 18% malgré des conditions macroéconomiques difficiles. Les points clés incluent :
1. BCP a atteint un ROE de 23,7% au cours du premier semestre de l'année.
2. Yape a atteint l'équilibre en mai, plus tôt que prévu.
3. L'entreprise vise à générer 10% de ses revenus ajustés au risque à partir de nouveaux modèles commerciaux d'ici 2026.
4. La stratégie d'innovation se concentre sur la pénétration du marché, l'expansion du TAM et l'accélération de l'adoption des capacités clés.
5. L'investissement dans la disruption correspond à 150 points de base du ROE de Credicorp et 350 points de base du ratio Coûts/Revenus par an.
Les aspirations de Yape pour 2026 incluent 16,5 millions d'utilisateurs actifs et S/ 600 milliards de transactions annuelles. L'entreprise maintient une approche disciplinée de la croissance, en s'alignant sur des objectifs stratégiques et une gestion financière prudente.
Credicorp veranstaltete sein Strategisches Update 2024 und hob Wachstumsinitiativen hervor, die durch Innovationen vorangetrieben und eine positive Perspektive unterstützt werden. Das Unternehmen bleibt auf Kurs, um ein nachhaltiges ROE-Ziel von 18% zu erreichen, trotz herausfordernder makroökonomischer Bedingungen. Wichtige Punkte sind:
1. BCP erzielte im ersten Halbjahr einen ROE von 23,7%.
2. Yape erreichte im Mai den Break-even-Punkt, früher als prognostiziert.
3. Das Unternehmen plant, bis 2026 10% der risikoadjustierten Einnahmen aus neuen Geschäftsmodellen zu generieren.
4. Die Innovationsstrategie konzentriert sich auf Marktdurchdringung, Erweiterung des TAM und Beschleunigung der Einführung wichtiger Fähigkeiten.
5. Die Investition in Störungen hat Auswirkungen von 150 Basispunkten auf das ROE von Credicorp und 350 Basispunkten auf das Kosten-Einkommen-Verhältnis pro Jahr.
Die Ziele von Yape für 2026 umfassen 16,5 Millionen aktive Nutzer und S/ 600 Milliarden jährlich an Transaktionen. Das Unternehmen verfolgt einen disziplinierten Ansatz für das Wachstum, der sich mit strategischen Zielen und einer fundierten Finanzverwaltung in Einklang bringt.
- On track to achieve sustainable 18% ROE target
- BCP achieved 23.7% ROE in the first half of the year
- Yape reached break-even in May, earlier than forecasted
- Aiming to generate 10% of risk-adjusted revenues from new business models by 2026
- Yape's 2026 aspirations increased to 16.5 million active users and S/ 600 billion in annual transactions
- Unexpectedly challenging macroeconomic environment
Insights
Credicorp's 2024 Strategic Update reveals a strong performance trajectory and ambitious growth plans. The company is on track to achieve its 18% ROE target, with BCP already posting a
The focus on innovation and self-disruption is promising, aiming to generate
Yape's 2026 aspirations are significantly increased, targeting 16.5 million active users (up by 6.5 million) and
The company's disciplined approach to innovation, limiting its impact to 150 basis points of ROE and 350 basis points of Cost-to-Income annually, demonstrates a balanced strategy between growth and financial prudence.
Credicorp's strategic update reveals a company adeptly navigating market challenges while positioning for future growth. The focus on self-disruption and innovation is particularly savvy in the rapidly evolving financial services landscape.
The company's strategy to expand Total Addressable Market (TAM) and cover white spaces indicates a proactive approach to market penetration. This, combined with the acceleration of key capabilities adoption, suggests Credicorp is well-positioned to capitalize on emerging market trends.
Yape's ambitious 2026 targets reflect the growing importance of digital payment solutions in Latin America. The projected increase from
The company's ecosystem approach, fostering collaboration between entities like Krealo and Yape, could create synergies that drive growth across multiple segments. This integrated strategy may provide Credicorp with a competitive edge in capturing market share and defending against potential disruptors.
On track to Achieve Sustainable
Lima, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Lima, PERU, September 26, 2024 -- Credicorp Ltd. today hosted its 2024 Strategic Update during which senior management outlined how the Company is powering sustainable growth through innovation, its goals and disciplined approach to digital disruption initiatives and the milestones achieved. Management also discussed the pipeline of future projects and how initiatives are serving to decouple its results from macroeconomic trends. Key highlights from the event include a reaffirmation of Credicorp’s commitment to innovation and self-disruption, market expansion, and shareholder value creation summarized below:
Backed by strong performance across most of the Lines of Business, Credicorp remains on track to achieve the sustainable ROE target of
- The acceleration of digital transformation and innovation has positioned the Company to adapt and thrive in a rapidly evolving environment. Customer engagement and operational efficiency has significantly increased within the core businesses and the innovation strategy is geared toward generating
10% of Credicorp’s risk-adjusted revenues from new business models by 2026. - A disciplined approach to growth ensures alignment with the strategic objectives and a commitment to prudent financial management.
CEO Remarks
Gianfranco Ferrari, Chief Executive Officer of Credicorp, emphasized the company’s robust performance and long-term growth strategy, despite facing an unexpectedly challenging macroeconomic climate since setting an
CINO Remarks
Francesca Raffo, Chief Innovation Officer, discussed the process Credicorp employs for fostering self-disruptive initiatives and shared details of key initiatives and their primary goals, which include:
- Gaining and defending market penetration by self-disrupting before other players do;
- Expanding TAM and covering white spaces; and
- Accelerating the adoption of key capabilities.
“Our strategy is grounded upon Credicorp’s priorities, with clear objectives, boundaries, and governance. These are accompanied by improvements of our execution capabilities, including speed, flexibility, and a growth mindset,” said Francesca Raffo.
She further stated, “To ensure a disciplined approach to our innovation program, we have reaffirmed the boundaries of our investment appetite for disruption, which continues to be an amount that does not generate an impact of more than 150 basis points of Credicorp’s ROE and 350 basis points of Credicorp’s Cost-to-Income per year. These limits are reviewed annually together with the Board of Directors, to guarantee alignment around performance and strategic foresight.”
Fireside Chat
Raimundo Morales, CEO of Yape and Adolfo Vinatea, CEO of Krealo joined Francesca Raffo for a fireside chat that included a discussion of how Krealo originates and manages deals for its portfolio and how Yape launches and manages its pipeline of products. Additionally, the three speakers discussed collaboration opportunities across the Credicorp ecosystem, the future for Tenpo, a Chilean neobank, and the strong outlook for Yape.
Outlook for Yape
In the Company’s Strategic Updated 2024 - Appendix, posted on its website, it provided new 2026 Aspirations for Yape that include 16.5 million active users, an increase of 6.5 million from the 2026 Aspiration set two years ago, and to achieve S/ 600 billion in transactions per year as compared to S/ 100 billion in transactions per year set two years ago, among others.
Closing Remarks
The Strategic Update concluded with a Q&A session where senior management engaged with institutional investors and analysts. Gianfranco Ferrari, CEO, closed the event by stating, "Our key objectives focus on penetration of markets with new value propositions, exploring untapped business segments, and accelerating the adoption of transformative technologies. While we will continue to be on the forefront of shaping the financial products and customer experiences of the future, our disciplined approach ensures alignment with our strategic objectives and prudent financial management."
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 in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and ASB Bank Corp.
For further information please contact the IR team:
Investorrelations@credicorpperu.com
Investor Relations
Credicorp Ltd.
FAQ
What is Credicorp's ROE target for 2025?
When did Yape reach break-even according to the Credicorp 2024 Strategic Update?
What are Credicorp's (BAP) investment limits for disruption initiatives?
What are Yape's 2026 aspirations according to Credicorp's (BAP) Strategic Update?
What percentage of risk-adjusted revenues does Credicorp (BAP) aim to generate from new business models by 2026?
